Signator Investors: Information for Investors

Signator Investors (CRD#: 468) is a registered securities brokerage with a main office in Boston, Massachusetts. This company is licensed to sell securities in 52 U.S. states and territories. As of January 15th, 2018, there were 26 disclosures on Signator Investors’ profile. This number includes 13 regulatory events and 12 FINRA Arbitration filings.

In this article, our securities fraud lawyers list the seven most recent disclosures. To learn the full details regarding any disclosure, please refer to the Signator Investors BrokerCheck Report. This report comes directly from the Financial Industry Regulatory Authority, and it is the source of all of the information that is included in this post.

Signator Investors: FINRA Disclosures

Disclosure # 1

Date: 08/13/2015

Reporting Source: Self-Reported

Initiated By: United States Securities and Exchange Commission

Allegations: “An order instituting administrative proceedings contains allegations that Signator failed to adopt and implement written policies and procedures regarding the use of consolidated reports that were reasonably designed to prevent violation of section 203(e) of the Advisers Act, Section 15(b)(4)(e) of the Exchange Act and rules thereunder and that such failure contributed to Signator’s failing to prevent two former associated persons from soliciting investments not offered or approved by Signator. The order also alleges that Signator’s registered principal failed to follow the firm’s policies and procedures regarding client files reviews and branch audit program.”

Sanction Details: “A $450,000 fine was imposed on Signator”

Disclosure # 2

Date: 05/16/2007

Reporting Source: Self-Reported

Initiated By: Michigan Office of Financial and Insurance Services

Allegations: “Violation of the registration provisions of Section 201(a) of the Act, MCL 451.60(a); Section 201(b) of the Act, MCL 451.601(b) & administrative recordkeeping provisions of section 203(a) of the Act, MCL 451.603(a) & Rule 603.1, R451.603.1.”

Sanction Details: “Monetary/fine $1,500; cease and desist injunction”

Disclosure # 3

Date: 12/20/2005

Reporting Source: Regulator

Initiated By: Pennsylvania Contact

Allegations: “Signator Investors, Inc. employed an unregistered agent to transact securities business in PA in violation of the registration provisions of the PA Securities Act of 1972.”

Sanction Details: “Signator Investors, Inc. is ordered to pay $20,000.00 administrative assessment and $1,500.00 investigative and legal costs.”

Disclosure # 4

Date: 10/22/2003

Reporting Source: Regulator

Initiated By: NASD

Allegations: “A registered representative of the member firm misused and converted at least $260,000 of municipal employee funds by placing them into non-participant accounts and into his own account. The respondent member had inadequate written supervisory procedures relating to the supervision of accounts funded through employer payroll withholding; the firm’s supervisory system was not reasonably designed to prevent and detect diversion of funds by registered representatives responsible for the firm’s employer salary withholding accounts; and the firm’s supervisory system had inadequate checks and balances to, among other things, confirm whether particular participants were entitled to certain allocations and whether individuals receiving funds were actually legitimate employee participants.”

Sanction Details: “Without admitting or denying the allegations, Signator Investors, Inc. consented to the described sanctions and to the entry of findings, therefore, the firm is censured and fined $35,000.”

Disclosure # 5

Date: 05/29/2003

Reporting Source: Regulator

Initiated By: Massachusetts

Allegations: “Signator failed to adequately supervise the principal of one of its top-producing offices. The principal allowed two series 6 registered representatives to conduct what they described as a venture capital investment bank. The principal, Jeremiah Healey, signed an outside business activity form approving of the activity.”

Sanction Details: “Firm agrees to cooperate in ongoing investigation and administrative proceedings of individuals in this matter. Fine in amount of $175,000.”

Disclosure # 6

Date: 04/01/1997

Reporting Source: Regulator

Initiated By: State of Florida, Office of Attorney General

Allegations: “Applicant and control affiliates were alleged to have engaged in improper sales/marketing practices involving misrepresentations/omissions regarding insurance products (source & use of premium payments, surrender/lapse of life insurance policies, continuing obligation to make premium payments, and improper replacement disclosures).”

Sanction Details: “The applicant and control affiliates made a mandatory payment of $6,000,000 and agreed to implement a new complaint review procedure, audit and monitoring program and a plan for misrepresentation and fraud.”

Disclosure # 7

Date: 10/15/1998

Reporting Source: Regulator

Initiated By: NASD

Allegations: “In connection with the offer and sales of interests in various limited partnerships, distributed certain “internal use only” sales communications to its registered representatives who in turn provided certain sales communications to the public that omitted material information and included exaggerated, unwarranted or misleading statements or claims.”

Sanction Details: “Monetary/fine $100,000”