According to FINRA, John A. Ordonez was assessed a deferred fine of $10,000 and suspended from association with any FINRA member in all capacities for 13 months for backdating documents produced to FINRA in response to a request for information. When gathering documents, Ordonez saw that relevant cover sheets he was responsible for were blank. He signed and backdated the cover sheets to give the appearance of contemporaneous reviews, knowing his firm would submit the backdated documents to FINRA.

After FINRA informed the firm it intended to interview Ordonez, he disclosed his misconduct to his firm. The firm immediately placed him on administrative leave and notified FINRA. During his on-the-record interview, Ordonez acknowledged that he had backdated the cover sheets provided to FINRA.

Backdating supervisory documents is a serious form of obstruction that undermines regulatory oversight. Supervisory review cover sheets exist to document that required reviews actually occurred at the proper times. Backdating these documents creates a false record suggesting supervision took place when it did not, preventing FINRA from identifying supervisory failures.

The fact that Ordonez knew the backdated documents would be submitted to FINRA makes this particularly serious. It represents an attempt to deceive regulators about the firm's supervisory practices. While Ordonez eventually acknowledged his misconduct, the 13-month suspension reflects the gravity of creating false records for submission to regulators. This case serves as a warning that any attempt to deceive FINRA through false documentation will result in severe sanctions.