According to FINRA, William Noel Girasole was fined $5,000 and suspended from association with any FINRA member in all capacities for two months for forging electronic signatures of customers and registered representatives on life insurance applications.
Girasole forged the electronic signatures of five customers and three registered representatives on a total of six life insurance applications. The representatives and customers did not authorize Girasole to sign these applications on their behalf. Forging signatures on any documents is a serious act of dishonesty, but forging signatures on insurance applications is particularly problematic because these applications contain important representations about the applicant's health, financial situation, and insurance needs.
Life insurance applications require signatures from the proposed insured to certify that the information provided is accurate and complete. Insurance companies rely on these signed applications to assess risk and determine whether to issue coverage and at what premium rate. Applications may also require signatures from representatives to certify that they have properly explained the product and ensured the application is complete and accurate.
By forging signatures, Girasole circumvented these important safeguards. The customers whose signatures were forged were not given the opportunity to review the applications or certify the accuracy of information contained in them. The representatives whose signatures were forged did not have the opportunity to review the applications or fulfill their professional obligations regarding those transactions.
The insurance provider canceled all six applications before customers were charged any premiums, limiting actual customer harm. However, the lack of financial harm does not excuse the underlying misconduct. Forgery demonstrates dishonesty and disregard for proper procedures, raising serious concerns about an individual's fitness to work in the securities industry.
Acts of forgery or falsification of documents are treated very seriously by securities regulators because they reflect on an individual's integrity and trustworthiness. Registered persons in the securities industry are held to high ethical standards. They handle customer funds, execute transactions, and provide advice that can significantly affect customers' financial well-being. When a representative demonstrates dishonesty through forgery, it raises fundamental questions about whether that person can be trusted with customers' financial interests.
Even when forgery does not result in financial harm to customers, FINRA typically imposes significant sanctions because the conduct itself violates basic standards of honesty and integrity. The two-month suspension in this case reflects both the seriousness of forgery as misconduct and certain factors specific to this case, including that the insurance provider canceled the applications before customers paid premiums.
The suspension is in effect from January 20, 2026, through March 19, 2026. During this period, Girasole cannot function in any registered capacity.
For investors, this case serves as a reminder of the importance of carefully reviewing all documents before signing them and never allowing anyone to sign documents on your behalf without explicit written authorization.
