Sandra Jayne McCabe, of Melville, New York, a stockbroker formerly registered with Wells Fargo Advisors, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she effected unauthorized transactions involving the recycling of customers signatures on documents. Letter of Acceptance, Waiver and Consent, No. 2017053422801 (July 24, 2017).
According to the AWC, between July of 2015 to September of 2016, McCabe reused the signatures of customers on approximately thirty-six occasions to effect transactions. McCabe evidently took photographs of customers signatures, or otherwise furnished forms that customers had previously signed without completing fully. The AWC stated that customers neither consented to McCabe’s altering of their documents, nor consented to the forms having been used repeatedly. McCabe’s conduct, which included utilizing ACH forms to effect transfers of funds, served as the basis of the firm’s termination of her on February 2, 2017. FINRA found that McCabe’s conduct in this regard was violative of FINRA Rule 2010 and 4511.
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