Thomas Patrick Barton, of Pittsburgh, Pennsylvania, a stockbroker formerly registered with Mutual of Omaha Investor Services Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings of forgery and unauthorized transactions when Barton was registered with Mutual of Omaha Investor Services. Letter of Acceptance, Waiver, and Consent No. 2021071289801 (December 10, 2021).
According to the AWC, FINRA learned on April 28, 2021, that Barton was terminated by the parent company of Mutual of Omaha Investor Services, supported by accusations of Barton’s submission of insurance applications without authorization and his falsification of information relating to insurance policies.
The AWC states that in February of 2021, three fake supplemental health insurance policy applications were prepared by Barton. Individuals’ signatures were placed on applications by Barton, and the applications were processed at the insurance company. FINRA states that Barton never had discussions with the individuals concerning their purchases of insurance.
The regulator also states that Barton had his bank account linked to the policies for premium payments, and the individuals never knew that they had insurance. It is unknown whom Barton designated as the beneficiary of these policies, or how old were the customers.
FINRA states that in March of 2021, additional fake insurance policy applications were submitted to the insurance company by Barton. Barton lacked authorization from the individuals. He never discussed their purchase of insurance policies.
FINRA states that Barton violated FINRA Rule 2010.
Barton was registered with Mutual of Omaha Investor Services Inc. between August 13, 2020, and April 28, 2021.
