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.

Debra Ann Friend (Principal)
AWC/2006007045701

Submitted a friend became aware that her member firm had not processed a public customer’s rollover form and fixed and a variable annuity application, so she completed a new application with a more current date. Without authorization,Friend cut out the public customer’s signature from the first application and pasted it on a new application, changed the date on the rollover form because the firm had not processed this form, and submitted both documents for processing.

Debra Ann Friend (Principal): Fined $5,000; Suspended 4 months