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- Ex-UBS Compliance Officer, Day Trader Deny Insider Trading
- Private Equity’s Big Bets on Financial Tech
- Trump Reportedly Floats Making Rudy Giuliani Attorney General
- Mastercard Wins Dismissal of $18 Billion Class Action Suit
- Jailed Schroders Trader Also to Pay $456K for His 'Criminal Lifestyle'
- Raymond Lucia, Ex-Radio Host Asks U.S. Top Court to Rule On Administrative Law Judges
- As Trump Administration Circles the Drain, Anthony Scaramucci Finally Lands West Wing Job
- Internal Power Struggle Rattles Guggenheim Partners
- Why Most People Will Never Be Successful
- Top Deutsche Bank Trader Leaves After Risky Bets Led to $60Mn Loss
- Bank of America Picks Dublin as EU Hub Post Brexit
- E*Trade Rises 4% as Q2 Earnings Beat Estimates
- I Scream, You Scream, FINRA Screams For Ice Cream ... or ... FINRA Deep-Freezes Broker
- Senate Panel OK's David Kautter, Trump Pick for Top Treasury Tax Job
- OJ Simpson Granted Parole After 9 Years in Prison
- PayPal to Partner with JPMorgan
- BNY Mellon Beats on Q2 Earnings as Revenues Improve
- I Scream, You Scream, FINRA Screams for Ice Cream ... or ... FINRA Deep-Freezes a Broker
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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.