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FINRA Suspends Ellen Reynard for Allegedly Falsifying Client Forms

Jan 19, 2023 FINRA Suspension

Ellen Reynard (CRD #: 6148906), a broker formerly registered with Raymond James Financial Services, has been suspended by FINRA, according to her BrokerCheck record, accessed on January 11, 2023. Read on to learn more about her alleged conduct as a broker.

FINRA Suspension

On November 10, 2022, Ellen Reynard consented to the entry of findings that she allegedly falsified 171 money movement forms submitted to Raymond James Financial Services from December 2018 to May 2021.

According to a Letter of Acceptance, Waiver & Consent (AWC), Ellen Reynard allegedly directed clients to sign blank or incomplete request forms and later completed the forms herself and submitted them for processing.

The AWC alleged that 168 of these forms authorized $23,000 in money movements from five client accounts. Two of the remaining forms allegedly established Automated Clearing House (ACH) profiles for one client, and the remaining form was allegedly a standing letter of authorization for a different client.

The AWC concluded that these alleged falsifications violated FINRA Rules 4511 and 2010.

FINRA Rule 4511

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

FINRA Rule 2010

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

Sanctions

Ellen Reynard consented to the following sanctions:

  • $5,000 fine
  • 5-month suspension

Her suspension began on November 21, 2022, and ended on April 20, 2023.

You can read the full AWC here.

Termination from Raymond James Financial Services

On September 28, 2021, Ellen Reynard was fired from Raymond James Financial Services following allegations that she violated industry standards of conduct.

Background Information

Ellen Reynard has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 24 – General Securities Principal Examination

She previously worked for Raymond James Financial Services (CRD#: 6694).

Kurta Law Can Help

If you worked with Ellen Reynard and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and 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. 

 

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