Steven John Sosnowski of Bloomington Illinois a former State Farm VP Management Corp. registered representative has been fined $5,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he forged a customer’s signature on a life insurance policy. Letter of Acceptance Waiver and Consent No. 2018057468601 (Oct. 11, 2018).

According to the AWC, in December of 2016, during the time that Sosnowski was associated with State Farm VP Management Corp., he placed a customer’s signature on a term life insurance contract without the customer having known or consented to Sosnowski’s activities. Evidently, Sosnowski forged the customer’s signature so that he could be eligible for benefits, including traveling arrangements, provided by an affiliate of State Farm.

The AWC stated that the customer subsequently discovered that a policy had been issued in the customer’s name, prompting the customer to contact State Farm to complain. The firm ultimately investigated Sosnowski’s activities, at which time Sosnowski admitted to having forged the customer’s signature. Consequently, FINRA found Sosnowski’s conduct violative of FINRA Rule 2010.

The AWC revealed that on February 14, 2018, Sosnowski was terminated from State Farm based upon the allegations of his misconduct as referenced in FINRA’s disciplinary action against him.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer

Guiliano Law Group

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from across the United States. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or a no obligation evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com