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.

Joel Barrett
2008014006701

Without a bank customer’s knowledge or authorization, Barrett

• signed the customer’s name on a check withdrawal form requesting a $25,000 check from the customer’s account made payable to Barrett’s friend, and the funds were later deposited into the friend’s checking account; and
• activated and linked an ATM card to the bank customer’s savings account and used the card to withdraw $3,500 from the account for his own personal use and benefit.

Barrett failed to respond to FINRA requests for information and to appear and testify at an on-the-record interview.

Joel Barrett : Barred

Tags: ATM  Check  Bank