Robert L. Bryant III of Lincoln Nebraska a stockbroker formerly registered with Allstate Financial Services LLC has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Bryant forged customer account documents and caused Allstate Financial Services to hold false information about customers of the firm. Letter of Acceptance Waiver and Consent No. 2017054741201 (Mar. 27, 2019).
According to the AWC, in November of 2016, Bryant was asked by Allstate Financial Services to provide new account documents for one hundred fifty seven customers’ accounts. The documentation sought by the firm reportedly concerned the customers’ mutual fund transactions. Apparently, Bryant was expected to cooperate with the firm’s request and provide documents by January 31, 2017.
The AWC stated that as many as nine customers’ signatures had been forged by Bryant on new account documents. Evidently, customers neither knew or approved of their signatures being placed on the account documentation. Supposedly, Bryant provided unauthentic customer documents to the firm. FINRA found Bryant’s conduct violative of FINRA Rule 2010.
The AWC also stated that the firm held false records and books because of Bryant. FINRA stated that the account documents constituted records that needed to be maintained in accurate form by the firm. The AWC stated that since the forms contained forged customer signatures, the customers did not actually become apprised of the documentation or authorize Bryant’s activities. FINRA found Bryant’s conduct in this respect to be violative of FINRA Rules 2010 and 4511.
FINRA Public Disclosure confirms that Bryant was discharged by Allstate Financial Services LLC on June 15, 2017 supported by allegations that Bryant furnished documentation containing unauthentic customer signatures in reference to customers’ brokerage accounts. Bryant was employed by Chelsea Financial Services between July 13, 2017 and November 30, 2017.
