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- CFTC Commissioner Quintenz Named Sponsor of the Technology Advisory Committee
- Harbour and Geneos Customers Win FINRA Arbitration Against Stockbroker - Bill Singer
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- At Jefferies, Like Wall Street, Trading Cedes to Banking
- Ex-SAC Trader Who Pleaded Guilty to Insider Trading Just Remembered He’s Innocent
- JPMorgan Turns to Amazon for Retail 'Customer Experience'
- Goldman Sachs Names Ken Hitchner as New Chairman for Asia Pacific
- Judge All but Tosses SEC Case Against ‘Rogue’ Trader And Ex-FBI Informant Guy Gentile
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- Fake Tax Returns - Your Next Worry After the Equifax Breach
- FINRA DR Recruiting Arbitrators, Mediators at Congressional Black Caucus Conference
- JPMORGAN: Here's who we think will replace Warren Buffett at Berkshire Hathaway
- Mueller to Search Facebook for Russia-Linked Accounts
- Mark Gomes, Market Analyst and Trade Scalper Settles with SEC
- Equifax Waives Credit Lock Fees For Consumers, Amid Criticism
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NEWSLETTERS & ALERTS
For this Double Dipping Broker, It’s STRIKE THREE
by Howard Haykin
Adriane Cagle agreed to pay a $5K fine and to serve a 2-month suspension to settle FINRA charges that she altered several documents that had already been signed by customers, and signed as a witness to customer signatures on certain documents without having actually witnessed the customers sign them.
BACKGROUND. Cagle, a resident of Fayetteville, GA, joined the securities industry in August 2013 as a registered rep with Merrill Lynch, Pierce, Fenner & Smith, where she remained until being U5’d on 8/25/16 for “conduct involving alteration of client documents." Cagle has not been associated with any other firm since her termination.
FINRA FINDINGS. In May 2014, Merrill Lynch disciplined Ms. Cagle in writing for altering certain documents after they had already been signed by a customer. Two years later, in April 2016, Cagle engaged in similar practices. Cagle added customer occupation information and signed as a witness to another customer's previously signed POA document, even though she had not actually witnessed the customer sign. Three months later, in July 2016, Cagle filled in dates and signed as a witness to another customer's previously-signed POA document even though she, once again, had not actually witnessed the customer sign.
Cagle’s alleged actions would cause the firm to maintain inaccurate books and records – a violation of FINRA Rule 4511.
FINANCIALISH TAKE AWAY. Ms. Cagle has proven herself to be untrustworthy. She may have doubled-dipped in violating FINRA Rule 4511, but according to our count, it’s STRIKE THREE.
This case was reported in FINRA Disciplinary Actions for June 2017.
For details on this case, go to ... FINRA Disciplinary Actions Online, and refer to Case #2016051146801.