FINRA Suspends Marcella Cofre After Alleged Forgery
Marcella Cofre (CRD #: 1507819), a broker formerly registered with Allstate Financial Services, has been suspended by FINRA, according to his BrokerCheck record, accessed on July 9, 2022. Keep reading to learn more about Marcella Cofre’s conduct as a broker.
On May 23, 2022, Marcella Cofre consented to the entry of findings that she forged a client’s signature on an insurance application submitted to Allstate Financial Company’s insurance affiliate in violation of FINRA Rule 2010.
In October 2019, Marcella Cofre allegedly electronically signed a client’s name on an insurance application with their consent, but without indicating that she was signing on the client’s behalf. Based on the application, the firm’s insurance affiliate issued the client a life insurance policy.
FINRA Rule 2010
Forgery and impersonation violate FINRA Rule 2010, which requires brokers to uphold high standards of commercial honor and ethical conduct.
Marcella Cofre consented to the following sanctions:
- $5,000 fine
- Two-month suspension
You can read the full AWC here.
Discharge by Allstate Insurance Company
On January 6, 2021, Marcella Cofre was fired by Allstate Insurance Company following allegations she provided inaccurate payment information on life insurance policies and forged a client’s signature on a life insurance application.
Marcella Cofre filed for bankruptcy in 2016 and 2019.
Marcella Cofre 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
In the past, she worked for the following firms:
- Allstate Financial Services (CRD#:18272)
- MetLife Securities (CRD#:14251)
- Metropolitan Life Insurance Company (CRD#:4095)
- Source Capital Group (CRD#:36719)
- Nationwide Securities (CRD#:11173)
- 1717 Capital Management Company (CRD#:4082)
Kurta Law Can Help
If you worked with Marcella Cofre and you have concerns about your investments, please contact us today at 877-600-0098 or email@example.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.