According to FINRA, Ellen Gayle Reynard was fined $5,000 and suspended for five months in all capacities for falsifying forms submitted to her firm to effectuate money movements requested by customers.

Reynard directed customers to sign blank or incomplete forms, but neither she nor the customers completed or submitted the forms at the time she obtained signatures. Instead, Reynard maintained the blank, signed forms, which she later photocopied, completed, and submitted to the firm at customers' requests.

By falsifying forms associated with money movements from customer accounts, Reynard caused the firm to maintain inaccurate books and records. The firm's records showed forms that appeared to be signed on the dates they were submitted, when in fact the signatures had been obtained earlier on blank forms.

This practice is problematic for multiple reasons. Blank signed forms can be misused to conduct unauthorized transactions. The forms may not accurately reflect customer instructions given at the time of the actual money movement request. The falsified dates create inaccurate firm records. Customers who sign blank forms may not remember what they authorized when the forms are later completed.

Even if Reynard had no fraudulent intent and believed she was simply streamlining the process for her customers' convenience, the practice created unacceptable risks and resulted in falsified documentation. Representatives must obtain customer signatures on complete forms that accurately reflect the requested transaction at the time the signature is obtained.

The five-month suspension holds Reynard accountable for falsifying customer forms and causing the firm to maintain inaccurate records, even if done for perceived customer convenience rather than fraudulent purposes.