← Broker database 2024-12-09
Paul Edwards Suspended for Forging Customer Signatures and Falsifying Documents
According to FINRA, Paul Edwards was assessed a deferred fine of $5,000 and suspended from association with any FINRA member firm in all capacities for two months for forging customer signatures and falsifying firm documents.
Edwards electronically signed two customers' names on an insurance application without authorization. Upon learning of the forgery, one customer complained to Edwards' firm. Edwards never submitted the form to the insurance company or his firm.
Additionally, Edwards falsified seven documents by altering them after customers had signed them. Edwards requested that customers sign blank forms, which he then completed after they were signed and submitted to the firm. Five of the altered documents were required books and records of the firm, including automatic investment authorization forms, one-time distribution request forms, and an asset movement authorization form.
Although none of the customers who signed blank forms complained and the underlying transactions were authorized, this conduct is nonetheless serious. Having customers sign blank forms and later completing them creates risk that the completed documents may not reflect the customers' actual intentions.
Forging signatures and falsifying documents undermines the integrity of the client-advisor relationship and the firm's recordkeeping systems. Even when no customer harm results, this conduct demonstrates a disregard for proper procedures and customer consent.
The suspension was in effect from December 16, 2024, through February 15, 2025. Investors should never sign blank documents and should review all documents before signing.