Marie P. Goforth of San Antonio Texas a stockbroker formerly employed by LPL Financial LLC has been suspended by the Texas State Securities Commissioner from engaging in securities business in the State of Texas according to findings that Goforth maintained blank forms signed by customers and reused customer signatures to effect securities transactions. Acceptance Waiver and Consent No. REG17-SUS-04 (May 4, 2017).
According to the AWC, Goforth’s retention of the blank signed forms and recycling of customer signatures violated the written supervisory procedures of LPL Financial. The Texas Securities Commissioner found Goforth’s investment advisor and securities based practices to be inequitable and violative of Texas Securities Act.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Goforth has been identified in two customer initiated investment related disputes containing allegations of Goforth’s violative conduct while associated with LPL Financial LLC. In particular, on July 15, 2003, a customer filed an investment related complaint regarding Goforth’s activities where the customer requested $20,000.00 in damages based upon accusations that misrepresentations had been made to the customer concerning the nature of a variable annuity investment, and was sold an annuity that was not appropriate for the customer.
Moreover, on February 23, 2016, a customer initiated investment related complaint involving Goforth’s conduct was resolved for $7,348.00 in damages supported by allegations of the unauthorized liquidation of the customer’s two annuities and subsequent unauthorized purchase of mutual funds with the proceeds of the annuity liquidation.
LPL Financial LLC terminated Goforth’s registration on July 22, 2016 based upon her failure to conform to the firm’s customer documentation policy. Since January 10, 2017, Goforth has been registered with Capital Financial Services Inc.
