FINRA Fines, Suspends Sagamore Hills, Ohio Broker
Last month, FINRA fined and suspended broker Edward Charles Bartlett III (CRD #1808797) of Sagamore Hills, Ohio. Bartlett submitted a Letter of Acceptance, Waiver and Consent (AWC) in which, without admitting or denying the findings, he consented to a fine of $5,000 and suspension from association with any FINRA member in any capacity for five months. The suspension is in effect from April 4, 2011, through September 3, 2011.
The entry of findings contained in the AWC states that Bartlett signed customers' names of four customers on several documents related to purchases of mutual funds and insurance products without authorization. While the customers authorized Bartlett to purchase the securities or insurance products for them, only one of the customers orally authorized Bartlett to sign his name. FINRA findings also stated that Bartlett signed customers' names to a number of forms, including new account applications, client profiles, risk questionnaires, insurance applications, and transaction confirmation forms. In one instance, Bartlett forged a customer's signature because he was concerned that he would lose a substantial commission if he went back to the customer to obtain her actual signature on a form.
Bartlett was a associated with AXA Advisors LLC from May 16, 2008 until his termination on October 13,2009. The actual AWC can be found on FINRA's new Disciplinary Actions Online Database. (FINRA Case #2009019969201)
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