[ by Melanie Gretchen ] An RR in Belmont, California, was fined $4,000 and suspended for 30 days following allegations by FINRA that customers of a variable annuity contract she opened received their statement, erroneously showing an increase of some $57,000 in the account value since its opening.  Although the registered rep knew the account was overstated, when she surrendered the contract and liquidated the account, she demanded that her customers receive the amount. FINRA's Findings and Allegations. Allyson Marta Saldana opened the contract, for which the initial premium paid was $169,236.  After the customers received the inaccurage statement, a customer contacted Saldana who in turn contacted the company representative to report the error and find a resolution. The company wholesaler told Saldana that she could attempt to surrender the contract and liquidate the account, thus allowing her customers to get the overstated account value.  In addition, the wholesaler told the RR that it was possible that the account would be adjusted to reflect the actual value of the account at any time prior to the submission of the surrender. Surrendering the Contract. Going forward, Saldana informed the customers and her supervisor regarding her discussion with the wholesaler.  Toward surrendering the contract, the customers returned the surrender documents, which Saldana submitted to the company.  The company told Saldana that it was in the process of updating the customers' account to show the correct account value. With her supervisor, Saldana called the company wholesaler and his supervisor, during which the supervisor told Saldana that, because the increase to the account was the result of an error, her customers could not receive the incorrect account value reflected on their statement if they went forward with liquidating the contract. Even though she knew the amount was overstated, Saldana insisted that her customers should receive the entire amount, including the amount erroneously credit to the account, on the grounds that her customers had already made financial decisions based on their expectation that they would be receiving this amount. When the company refused to provide to provide her customers with the erroneous account value, she withdrew the surrender of the account. FINRA Sanctions. Saldana was suspended from 12/19/11 through 1/17/12. For further details, go to [FINRA AWC #2009021036601].