Joshua R. Cook of Vernal, Utah, a stockbroker registered with LPL Financial LLC, has been fined $7,500.00 and suspended for ten months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Cook engaged in forgery and maintained inaccurate firm records at LPL Financial LLC. Letter of Acceptance, Waiver, and Consent No. 2022074655901 (March 4, 2024).
According to the AWC, Cook electronically signed the names of at least 160 customers on a total of 373 account documents without their prior permission. These actions occurred between November 1, 2019, and April 23, 2021. The documents included new account applications, transfer documents, and IRA-related forms, all of which are required to be accurate as part of the firm’s records.
By signing on behalf of the customers, he engaged in forgery in violation of FINRA Rule 2010. Additionally, Cook falsely attested in compliance questionnaires that he had not signed or used another person’s signature on any document. His actions caused LPL Financial LLC to maintain inaccurate records. Therefore, he violated FINRA Rule 4511.
Cook was discharged from LPL Financial LLC on March 11, 2022. The termination followed allegations that he electronically signed account documents on behalf of customers.
