Richard Connally Faces Year-Long FINRA Suspension

Richard Connally (CRD #: 2570561), a broker formerly registered with FBL Marketing Services, has been suspended by FINRA, according to his BrokerCheck record, accessed on November 15, 2024. Keep reading to learn more about his alleged conduct as a broker.

Suspension by FINRA

On October 3, 2024, Richard Connally consented to the entry of findings that he allegedly forged or falsified client signatures on hundreds of insurance account documents from at least November 2007 through September 2022.

According to a Letter of Acceptance, Waiver & Consent (AWC), Richard Connally was allegedly both a broker for FBL Marketing Services and an insurance agent with the firm’s affiliate life insurance company, and forged and/or falsified documents were submitted to that affiliate. These documents allegedly included insurance applications, money movement forms, policy service and change of beneficiary requests, and verification forms.

Richard Connally allegedly also falsely attested that he had not signed a client’s name on any documents on at least three annual compliance questionnaires.

The AWC concluded that these allegations constitute violations of NASD Rule 2110 and FINRA Rule 2010.

FINRA Rule 2010

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

Sanctions

Richard Connally consented to the following sanctions:

• 1-year suspension from associating with FINRA members
• $7,500 fine

His suspension began on October 7, 2024, and will end on October 6, 2025. You can access the full AWC here.

Termination from FBL Marketing Services

On November 2, 2022, Richard Connally was fired from FBL Marketing Services after an investigation by the firm’s affiliate life insurance company allegedly found that he had fraudulently applied client signatures without their permission to process policy requests. He allegedly also violated affiliate insurance company policies concerning paying client premiums and fees on fixed insurance contracts.

Background Information

Richard Connally 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

He previously worked for FBL Marketing Services (CRD#:5309).

Kurta Law Can Help

If you worked with Richard Connally 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 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.