The Financial Industry Regulatory Authority Inc. has barred a brokerage assistant formerly employed by Transamerica Financial Advisors for signing a customer's name on forms and documents in connection with an account transfer.
The assistant, Francis Acosta, was never registered and was terminated by Transamerica in May 2017.
In December 2015, in order to speed up an account transfer for her broker's client, Ms. Acosta "caused someone to impersonate the customer during five telephone calls with his prior broker-dealer," Finra said in its letter of acceptance, waiver and consent. She also signed replacement forms that her broker was supposed to sign because he was not available.
Finally, in March 2017, Ms. Acosta admitted to causing another person to impersonate her broker's customer on five telephone calls with another broker-dealer. She also admitted to signing the customer's name on other forms.