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.
2010
Linda Marie Allen AWC/2007010771801/ 2010
Registered Principal Allen's Office of Supervisory Jurisdiction (OSJ) manager was absent from the OSJ for extended periods, but during these extended absences, he signed Delegation Letters that were submitted to and approved by the member firm to delegate his supervisory responsibilities to Allen, who was also registered as a Principal. Allen signed the manager’s name on the firm’s internal documents with her manager’s authorization, with both of them believing that the Delegation Letters were intended to provide her with authorization to act and sign as the manager in his absence from the OSJ. Allen’s firm knew that her manager had delegated principal responsibilities to her, but the firm did not know that she had signed his name to firm documents. Allen never attempted to replicate her manager’s signature, but signed his name in her own handwriting to firm documents, thereby causing the firm to maintain inaccurate books and records.
Linda Marie Allen: Fined $5,000; Suspended 3 months