Tiffany Anne Keigley Accused of Unauthorized Trading

Tiffany Anne Keigley allegedly violated FINRA Rules 3260(b) and 2010 by exercising discretion in customer accounts without written authorization. FINRA determined that she entered hundreds of trades in client accounts without obtaining the required written approval, leading to a four-month suspension and a $7,500 fine.

Keigley first became registered with FINRA in 2002 and worked as a General Securities Representative through several firms. Most recently, she was associated with LPL Financial LLC until her termination in 2024. At the time of the alleged violations, she managed customer accounts at LPL but failed to comply with discretionary account requirements. She is no longer registered with a FINRA member firm but remains subject to FINRA’s jurisdiction.

FINRA Rule 3260(b) prohibits brokers from exercising discretion in a customer’s account unless the customer gives prior written authorization and the firm approves the account as discretionary in writing. In plain terms, a broker cannot decide what to buy or sell in a client’s account without written consent. For example, if a customer wants their broker to handle trading decisions on their behalf, the customer must sign an authorization form and the firm must formally approve the account. Similarly, if a broker rebalances a portfolio without permission, that action requires prior written authorization. A violation of this rule is also a violation of Rule 2010, which requires brokers to act honestly and fairly in all dealings.

According to FINRA, Keigley entered trades in customer accounts from 2020 through 2022 without securing the necessary written approvals. While some clients may have been aware she was placing trades, the lack of formal authorization and firm approval made the actions improper under FINRA’s rules. FINRA also noted that Keigley inaccurately stated on compliance questionnaires that she had not exercised discretion in customer accounts. These actions, taken together, violated both Rule 3260(b) and Rule 2010 and led to the sanctions imposed.

Lufrano Law, LLC is a national investment litigation firm and has experience representing investors who have investment disputes with brokers and broker-dealers. Please contact us at (800) 627-2179 for more information if you have been the victim of investment negligence or fraud.

The content on this site reflects personal opinions and does not constitute statements of fact. No findings have been made against the firms or individuals mentioned. This blog is intended solely for educational purposes, drawing on publicly available information to provide general insights and a basic understanding of the law. It is not a substitute for legal advice.