Wells Fargo Broker Suspended by FINRA for Falsified Forms
Sandra McCabe, a former registered representative employed with Wells Fargo Clearing Services, LLC, (Wells Fargo), submitted a Letter of Acceptance, Waiver, and Consent in which she consented to, but did not admit to or deny, the Financial Industry Regulatory Authority’s (FINRA) findings that she falsified documents by photocopying and re-using previously signed customer forms. FINRA’s findings state that on approximately 36 occasions, Sandra Jayne McCabe, of Holbrook, New York, photocopied and reused signed and partially completed customer forms rather than having them execute new forms. The forms included ACH authorization agreements which authorize transfers of funds. FINRA found that Ms. McCabe submitted the forms with non-original signatures and, in two cases, altered information on the forms as well. Although the customers authorized the underlying transactions, they did not authorize her to falsify the forms.
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