Christopher Coffey Terminated Following Allegations

Christopher Coffey (CRD #: 6850994) has been fired by Allstate Financial Services. This is according to his BrokerCheck record, accessed on November 7, 2024. Keep reading if you have concerns regarding his alleged conduct as a broker. 

Suspension by FINRA

On October 29, 2024, Christopher Coffey consented to the entry of findings that he allegedly forged client signatures on two variable annuity withdrawal forms in September 2022.

According to a Letter of Acceptance, Waiver & Consent (AWC), he allegedly attached a genuine signature page from a previously-submitted withdrawal form then changed the date and submitted it with the new form. He allegedly also failed to inform the client before forging the signature and submitting the forms.

The AWC also alleged that Christopher Coffey caused his firm to maintain inaccurate books and records in violation of FINRA Rule 4511, and that these alleged forgeries violated FINRA Rule 2010. 

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Forgery violates this rule. 

FINRA Rule 4511

FINRA Rule 4511 requires firms to keep accurate and up-to-date books and records.

Sanctions

Christopher Coffey consented to the following sanctions:

• 2-month suspension from associating with FINRA members
• $5,000 fine

His suspension began on November 4, 2024, and January 3, 2025. You can read the full AWC here.

What is a Variable Annuity? 

Variable annuities are complex investments. They are insurance products that come with an investment component. The associated fees, surrender charges, and potential tax liability can negate any supposed benefits they offer. The issuer of the policy may also compensate the brokerage firm, which creates a conflict of interest. 

Termination by Allstate

On December 15, 2023, Allstate Financial Services fired Christopher Coffey following allegations that he submitted variable annuity withdrawal forms containing non-genuine signatures. 

Background Information 

Christopher Coffey has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 6 Investment Company Products / Variable Contracts Representative Examination 

During his five years of experience, he has registered with two firms: Allstate Financial Services (CRD #: 18272) and NYLIFE Securities (CRD #: 5167). 

Kurta Law Can Help 

If you have worked with Christopher Coffey and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.