Lisa Maria Idlett of Carteret, New Jersey, a stockbroker registered with Wells Fargo Clearing Services LLC has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity for six months based upon allegations that Idlett failed to provide information and documents to FINRA when it investigated possible violations of FINRA rules. FINRA Enforcement Action (AWC) No. 2022073947701 (Sept. 29, 2022).
According to the AWC, on January 31, 2022, Wells Fargo Clearing Services LLC filed a Uniform Termination Notice for Securities Industries Registration (Form U5) with FINRA, thereby terminating her registration with the firm. Wells Fargo Clearing Services LLC discharged Idlett based upon allegations that Idlett signed a customer’s name on checks. Although not investment related, FINRA then began an investigation into Idlett.
On February 8, 2022, FINRA sent Idlett a request for documents and information concerning her termination from Wells Fargo. FINRA required a response from Idlett by February 22, 2022. Idlett did not respond by the due date, so FINRA sent her another request with a due date of March 9, 2022. Idlett did not respond until March 11, 2022, and in the end, completed a late response to FINRA’s request on May 22, 2022. As a result of failing to respond in a timely manner, Idlett violated FINRA Rules 2010 and 8210.
Lisa Idlett was associated with Wells Fargo Clearing Services LLC in Carteret, NJ, as a stockbroker from October 1, 2000 to January 31, 2022.