FINRA

Without admitting or denying the findings, Young consented to the sanctions and to the entry of findings that he falsified the signatures of three customers of his member firm on nineteen firm forms with the customers' permission. The findings stated that Young re-used one of the customer's previously obtained genuine signature on three account transfer forms. Young also re-used that customer's and another customer's previously obtained genuine signatures on fifteen mutual fund replacement forms. Further, Young affixed a copy of a third customer's signature to a life insurance product acknowledgement form. In each instance, the customers did not sign the documents but authorized Young to affix or re-use their signatures. Young also falsely stated on an annual compliance questionnaire that he had not signed or affixed any other person's signature on a document. The firm used eighteen of the falsified documents to authorize and record the sale, transfer, or disbursement of cash or securities from the customers' accounts. As a result of this conduct, Young caused his firm to maintain inaccurate books and records.

Acceptance, Waiver & Consent(AWC)

Civil and Administrative Penalty(ies)/Fine(s)

$5,000.00

Suspension

All Capacities

20 business days

7/3/2023

7/31/2023

LPL Financial LLC

Discharged

Violation of Firm Document Signature Policy for re-using customer signatures on account documents.

Compromise

Satisfied/Released