Andrew Timothy Durham of Greenwood, South Carolina, a stockbroker formerly registered with Allstate Financial Services, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded upon findings that Durham forged an Allstate Financial Services customers’ signature on a life insurance application. Letter of Acceptance Waiver and Consent No. 2021069433001 (November 10, 2021).
According to the AWC, in February of 2019, a life insurance application had been submitted by Durham to an insurance affiliate of Allstate Financial Services. The customer’s information was presented on that application, but with Durham’s own bank account information. The AWC states that Durham fabricated an email address on the application before forging the customer’s signature.
FINRA indicated that there was no authorization provided to Durham for his actions which resulted in Allstate creating the insurance policy. The AWC states that the insurance policy lapsed through the nonpayment of premiums. Durham violated FINRA Rule 2010 for forgery.
Durham was employed by Allstate Financial Services between March 22, 2017, and January 21, 2021.
