Brian Orlando Blanco of Bloomington, Illinois, a stockbroker formerly registered with State Farm VP Management Corp., has been fined $5,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he forged his customers’ signatures on applications when associated with State Farm VP Management Corp. Letter of Acceptance, Waiver, and Consent No. 2020066805601 (January 24, 2022).

According to the AWC, Blanco was prohibited by State Farm’s written supervisory procedures from signing or forging the name of a customer on any document. This prohibition extended to situations where a customer allowed their signature to be used by someone.

The AWC states that Blanco knew about the procedures relating to forgery. That did not stop him from signing sixteen applications for insurance. These applications related to three customers, all of whom did not know about Blanco’s actions or consent to them. The documents were submitted by Blanco to be processed by the firm. FINRA states that Blanco also falsified signatures of thirteen customers, all of whom knew Blanco or were in his family; however, those customers authorized his signatures.

FINRA states that Blanco violated FINRA Rule 2010.

Blanco voluntarily resigned from State Farm on May 10, 2020, based upon accusations of Blanco failing to comply with signature procedures and failing to supervise others within the company.