Paula Louise Harold, of Ontario, California, a stockbroker formerly registered with PFS Investments, Inc., has been fined $5,000.00 and suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that she completed forms to effect an annuity purchase that a customer never authorized. Letter of Acceptance, Waiver and Consent, No. 2016050696001 (Nov. 28, 2017).
According to the AWC, in April of 2016, during which time Harold was associated with PFS Investments, she completed an application for a customer’s fixed indexed annuity, where she conveyed information on the application that was false and even placed the customer’s signature on the documentation. The AWC stated that the documentation was never authorized by the customer to be completed or signed. Moreover, Harold reportedly placed her husband on the customer account documentation as a family member and beneficiary of the customer’s annuity. FINRA found that Harold’s conduct was violative of FINRA Rule 2010.
Harold’s employment with PFS Investments Inc. was terminated on November 17, 2016.
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