According to FINRA, Bruce Allen Rathkamp (CRD #1358696), based in Chillicothe, Ohio, was sanctioned on January 31, 2024, through a Letter of Acceptance, Waiver and Consent (AWC). Rathkamp was fined $5,000 and suspended from association with any FINRA member firm in all capacities for four months.

FINRA found that Rathkamp forged or falsified the electronic signatures of customers, some of whom were seniors, on account documents, and forged the electronic signature of another registered representative on some of the documents. As a result, Rathkamp caused his member firm to maintain inaccurate books and records.

The findings stated that the documents signed by Rathkamp included account applications and account transfer forms, which were required books and records of the firm. FINRA noted that none of the customers complained and the underlying transactions, which did not generate any commissions for Rathkamp, were authorized. However, Rathkamp also falsely attested to his firm on a compliance questionnaire that he had not signed or affixed another person's signature on a document.

Signature forgery on account documents is a serious violation of FINRA rules and securities regulations, regardless of whether the underlying transactions were authorized. Customer signatures on account documents serve as verification that the customer has reviewed, understood, and agreed to the terms of the transaction or account change. By forging these signatures, Rathkamp deprived customers of this important safeguard and caused the firm to maintain records that were fundamentally inaccurate.

The forgery of another registered representative's signature adds an additional dimension to the violation. It means that supervisory and compliance functions dependent on knowing which representatives approved or participated in particular transactions were compromised.

The involvement of senior customers is particularly concerning given FINRA's heightened focus on protecting older investors. Seniors are recognized as a vulnerable population that deserves additional safeguards, and forging their signatures on financial documents is especially troubling from a regulatory perspective.

The false attestation on the compliance questionnaire compounds the seriousness of the misconduct. By affirmatively stating that he had not signed another person's name on documents, Rathkamp actively concealed his conduct and undermined his firm's compliance program.

Investors should review all documents associated with their accounts to ensure they contain only their own authentic signatures. If you discover unauthorized signatures on your account documents, contact your firm's compliance department immediately and consider filing a complaint with FINRA.

The suspension was in effect from February 5, 2024, through June 4, 2024 (FINRA Case #2022075368501).