Rda Financial Network, Inc.

Allegations: IN AUGUST 2017, PARKER DIRECTED HIS ASSISTANT TO IMPERSONATE A CUSTOMER IN ORDER TO OBTAIN A CHANGE IN BENEFICIARY FORM FOR AN INSURANCE ACCOUNT THAT THE CUSTOMER HELD DIRECTLY WITH THE INSURANCE COMPANY. BY INSTRUCTING HIS ASSISTANT TO IMPERSONATE THE CUSTOMER, PARKER ENGAGED IN UNETHICAL CONDUCT IN VIOLATION OF FIN RA RULE 2010. ALSO IN AUGUST 2017, PARKER FORGED A SECOND CUSTOMER'S INITIALS ON A SUITABILITY FORM AND FALSIFIED A TRANSFER OF ASSETS FORM FOR THAT CUSTOMER'S ACCOUNT; PARKER REUSED A PREVIOUSLY-EXECUTED SIGNATURE PAGE FROM ANOTHER FORM. BY FORGING THE INITIALS OF THIS CUSTOMER AND FALSIFYING THE FORM IN THE MANNER NOTED ABOVE, PARKER ALSO ACTED UNETHICALLY IN VIOLATION OF FINRA RULE 2010. A. PARKER CAUSED HIS ASSISTANT TO IMPERSONATE A CUSTOMER FINRA RULE 2010 REQUIRES ASSOCIATED PERSONS TO "OBSERVE HIGH STANDARDS OF COMMERCIAL HONOR AND JUST AND EQUITABLE PRINCIPLES OF TRADE." IN AUGUST 2017, ONE OF PARKER'S CUSTOMERS, MP, REQUESTED A CHANGE TO THE DESIGNATED BENEFICIARY ON AN INSURANCE POLICY SHE HELD DIRECTLY WITH THE POLICY ISSUER. IN ORDER TO OBTAIN MP'S POLICY INFORMATION AND THE FORM THAT WOULD NEED TO BE COMPLETED TO CHANGE THE BENEFICIARY DESIGNATION, PARKER DIRECTED HIS ASSISTANT TO OBTAIN THAT INFORMATION BY IMPERSONATING THE CUSTOMER. SPECIFICALLY, PARKER INSTRUCTED THE ASSISTANT TO HAVE ALL OF MP'S PERSONAL CONFIDENTIAL INFORMATION IN FRONT OF HER, INCLUDING MP'S BIRTHDATE, SOCIAL SECURITY NUMBER AND ADDRESS, AND TO EXPLICITLY MISREPRESENT TO THE INSURANCE CARRIER THAT SHE WAS MP. WHILE PARKER WAS OBTAINING THIS INFORMATION AS AN ACCOMMODATION TO MP, HE EXPLICITLY INSTRUCTED HIS ASSISTANT TO "GET AROUND" THE INSURANCE COMPANY'S PRIVACY POLICIES BY PRETENDING TO BE MP. AT PARKER'S DIRECTION HIS ASSISTANT CARRIED OUT HIS DIRECTIONS. BY VIRTUE OF THE FOREGOING, PARKER ACTED UNETHICALLY AND FAILED TO OBSERVE HIGH STANDARDS OF COMMERCIAL HONOR AND JUST AND EQUITABLE PRINCIPALS OF TRADE, IN VIOLATION OF FIN RA RULE 2010. ON JULY 26, 2017, ANOTHER OF PARKER'S CUSTOMERS, DM, SIGNED AN APPLICATION TO PURCHASE AN EQUITY INDEXED ANNUITY. USA FINANCIAL REJECTED THAT APPLICATION ON AUGUST 3, 2017, BECAUSE CERTAIN REQUIRED FORMS WERE EITHER MISSING OR INCOMPLETE. SPECIFICALLY, THE APPLICATION INCLUDED AN INCOMPLETE "FIXED INDEXED ANNUITY ACKNOWLEDGMENT" FORM AND THE REQUIRED CUSTOMER SUITABILITY PROFILE FORM WAS NOT SUBMITTED. IN ADDITION, A REQUIRED "TRANSFER OF ASSETS" FORM WAS COMPLETED BUT NOT SIGNED BY DM. PARKER MET WITH DM THE FOLLOWING DAY TO HAVE HIM COMPLETE AND EXECUTE ALL OF THE REQUIRED FORMS, BUT LATER DISCOVERED THAT DM HAD FAILED TO INITIAL THE CUSTOMER SUITABILITY PROFILE FORM. AFTER DISCUSSING THIS OMISSION WITH DM, PARKER INITIALED THE FORM FOR HIM, AS DM HAD REQUESTED. PRIOR TO RE-SUBMITTING THE NEW APPLICATION AND THE NEWLY-COMPLETED AND EXECUTED FORMS TO THE FIRM, PARKER COULD NOT LOCATE THE NEWLY-COMPLETED TRANSFER OF ASSETS FORM. PARKER DID NOT DISCUSS THIS MISSING FORM WITH DM AND DID NOT HAVE DM COMPLETE AND EXECUTE A NEW TRANSFER OF ASSETS FORM. INSTEAD, PARKER COMPLETED A NEW TRANSFER OF ASSETS FORM HIMSELF. HE THEN ATTACHED THE SIGNATURE PAGE FROM DM'S EARLIER, REJECTED APPLICATION. AFTER ATTACHING THE PREVIOUSLY EXECUTED SIGNATURE PAGE TO THE TRANSFER OF ASSETS FORM, PARKER DIRECTED HIS ASSISTANT TO SUBMIT THE FORMS FOR PROCESSING. NO ASSETS WERE TRANSFERRED AGAINST DM'S DIRECTION. BY VIRTUE OF THE FOREGOING, PARKER FAILED TO OBSERVE HIGH STANDARDS OF COMMERCIAL HONOR AND JUST AND EQUITABLE PRINCIPLES OF TRADE, IN VIOLATION OFFINRA RULE 2010. Status: Final Sanction Detail: FINRA HAS STATED THEY DON'T EXPECT BRIAN TO PAY THE FINE UNLESS HE WOULD REQUEST TO BE REGISTERED WITH FINRA AGAIN. Summary: IN AUGUST 2017, PARKER DIRECTED HIS ASSISTANT TO IMPERSONATE A CUSTOMER IN ORDER TO OBTAIN A CHANGE IN BENEFICIARY FORM FOR AN INSURANCE ACCOUNT THAT THE CUSTOMER HELD DIRECTLY WITH THE INSURANCE COMPANY. BY INSTRUCTING HIS ASSISTANT TO IMPERSONATE THE CUSTOMER, PARKER ENGAGED IN UNETHICAL CONDUCT IN VIOLATION OF FIN RA RULE 2010. ALSO IN AUGUST 2017, PARKER FORGED A SECOND CUSTOMER'S INITIALS ON A SUITABILITY FORM AND FALSIFIED A TRANSFER OF ASSETS FORM FOR THAT CUSTOMER'S ACCOUNT; PARKER REUSED A PREVIOUSLY-EXECUTED SIGNATURE PAGE FROM ANOTHER FORM. BY FORGING THE INITIALS OF THIS CUSTOMER AND FALSIFYING THE FORM IN THE MANNER NOTED ABOVE, PARKER ALSO ACTED UNETHICALLY IN VIOLATION OF FINRA RULE 2010. A. PARKER CAUSED HIS ASSISTANT TO IMPERSONATE A CUSTOMER FINRA RULE 2010 REQUIRES ASSOCIATED PERSONS TO "OBSERVE HIGH STANDARDS OF COMMERCIAL HONOR AND JUST AND EQUITABLE PRINCIPLES OF TRADE." IN AUGUST 2017, ONE OF PARKER'S CUSTOMERS, MP, REQUESTED A CHANGE TO THE DESIGNATED BENEFICIARY ON AN INSURANCE POLICY SHE HELD DIRECTLY WITH THE POLICY ISSUER. IN ORDER TO OBTAIN MP'S POLICY INFORMATION AND THE FORM THAT WOULD NEED TO BE COMPLETED TO CHANGE THE BENEFICIARY DESIGNATION, PARKER DIRECTED HIS ASSISTANT TO OBTAIN THAT INFORMATION BY IMPERSONATING THE CUSTOMER. SPECIFICALLY, PARKER INSTRUCTED THE ASSISTANT TO HAVE ALL OF MP'S PERSONAL CONFIDENTIAL INFORMATION IN FRONT OF HER, INCLUDING MP'S BIRTHDATE, SOCIAL SECURITY NUMBER AND ADDRESS, AND TO EXPLICITLY MISREPRESENT TO THE INSURANCE CARRIER THAT SHE WAS MP. WHILE PARKER WAS OBTAINING THIS INFORMATION AS AN ACCOMMODATION TO MP, HE EXPLICITLY INSTRUCTED HIS ASSISTANT TO "GET AROUND" THE INSURANCE COMPANY'S PRIVACY POLICIES BY PRETENDING TO BE MP. AT PARKER'S DIRECTION HIS ASSISTANT CARRIED OUT HIS DIRECTIONS. BY VIRTUE OF THE FOREGOING, PARKER ACTED UNETHICALLY AND FAILED TO OBSERVE HIGH STANDARDS OF COMMERCIAL HONOR AND JUST AND EQUITABLE PRINCIPALS OF TRADE, IN VIOLATION OF FIN RA RULE 2010. ON JULY 26, 2017, ANOTHER OF PARKER'S CUSTOMERS, DM, SIGNED AN APPLICATION TO PURCHASE AN EQUITY INDEXED ANNUITY. USA FINANCIAL REJECTED THAT APPLICATION ON AUGUST 3, 2017, BECAUSE CERTAIN REQUIRED FORMS WERE EITHER MISSING OR INCOMPLETE. SPECIFICALLY, THE APPLICATION INCLUDED AN INCOMPLETE "FIXED INDEXED ANNUITY ACKNOWLEDGMENT" FORM AND THE REQUIRED CUSTOMER SUITABILITY PROFILE FORM WAS NOT SUBMITTED. IN ADDITION, A REQUIRED "TRANSFER OF ASSETS" FORM WAS COMPLETED BUT NOT SIGNED BY DM. PARKER MET WITH DM THE FOLLOWING DAY TO HAVE HIM COMPLETE AND EXECUTE ALL OF THE REQUIRED FORMS, BUT LATER DISCOVERED THAT DM HAD FAILED TO INITIAL THE CUSTOMER SUITABILITY PROFILE FORM. AFTER DISCUSSING THIS OMISSION WITH DM, PARKER INITIALED THE FORM FOR HIM, AS DM HAD REQUESTED. PRIOR TO RE-SUBMITTING THE NEW APPLICATION AND THE NEWLY-COMPLETED AND EXECUTED FORMS TO THE FIRM, PARKER COULD NOT LOCATE THE NEWLY-COMPLETED TRANSFER OF ASSETS FORM. PARKER DID NOT DISCUSS THIS MISSING FORM WITH DM AND DID NOT HAVE DM COMPLETE AND EXECUTE A NEW TRANSFER OF ASSETS FORM. INSTEAD, PARKER COMPLETED A NEW TRANSFER OF ASSETS FORM HIMSELF. HE THEN ATTACHED THE SIGNATURE PAGE FROM DM'S EARLIER, REJECTED APPLICATION. AFTER ATTACHING THE PREVIOUSLY EXECUTED SIGNATURE PAGE TO THE TRANSFER OF ASSETS FORM, PARKER DIRECTED HIS ASSISTANT TO SUBMIT THE FORMS FOR PROCESSING. NO ASSETS WERE TRANSFERRED AGAINST DM'S DIRECTION. BY VIRTUE OF THE FOREGOING, PARKER FAILED TO OBSERVE HIGH STANDARDS OF COMMERCIAL HONOR AND JUST AND EQUITABLE PRINCIPLES OF TRADE, IN VIOLATION OF FINRA RULE 2010.