NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.

Geraldine Ann Wert (Principal)
OS/2008015086401

Wert converted approximately $18,610 from an expense account her supervisors’ owned to pay for personal expenses. Wert took approximately $12,000 in unauthorized personal loans from the expense account, which she repaid shortly after withdrawing the funds. She forged her supervisors’ signatures on customers’ new account forms and advisory agreements without her supervisors’ authorization or knowledge. Wert failed to appear and provide testimony as FINRA required.

Geraldine Ann Wert (Principal): Barred

Tags: Conversion  Expenses  Forgery