FINRA’s Department of Enforcement investigated Llewellyn and found he affixed the signatures of at least 12 different customers on numerous insurance-related documents from November 18, 2012 to January 18, 2013. In total, Llewellyn falsified 12 life insurance applications, 12 nonmedical questionnaires and three (3) requests for insurance service account documents. During the relevant time period, Northwestern’s procedures prohibited firm employees from signing a customer’s signature with no exceptions. Nevertheless, Llewellyn affixed the client signatures in direct contravention to firm procedures.
Llewelyn’s alleged misconduct violated multiple FINRA Rules, including FINRA Rule 2010, which requires members to comply with “high standards of commercial honor and just and equitable principles of trade.” To make matters worse, Llewellyn intentionally misrepresented to FINRA’s investigative staff that he had not signed any customers’ names on any forms, which was not true and a separate violation of FINRA Rule 8210.
Lufrano Law, LLC is a national securities litigation firm and has experience representing investors who have investment disputes with brokers and broker-dealers. If you have any questions regarding Llewelyn’s misconduct, or if you believe that you have been a victim of securities and investment fraud including falsified documents, please complete our contact form below or contact one of our attorneys at (800) 627-2179.