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Mar 24, 2008 12:38 pm

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Shawna Lee Mendoza (Associated Person) 
AWC/2006006943001/March 2008

Mendoza was instructed by registered representatives at her member firm to complete missing items and obtain new customer signatures on Point of Sale-Variable Life (POS) forms that the customers had previously signed in connection with their applications for variable universal life insurance policies. Because Mendoza was unable to get timely responses from the customers and receive newly signed POS forms, she obtained information from other customer documents and, without the customers’ knowledge and consent, photocopied their signatures to the POS forms and inserted more recent dates tomake it appear that the customers had signed new POS forms.  Mendoza altered the dates on the POS forms next to the registered representatives’ signatures without their knowledge and consent. 

Shawna Lee Mendoza: Fined $5,000; Suspended 3 months

http://rrbdlaw.com/RegulatoryLinks/CASESOFNOTE/NASD/2008.htm

Mar 24, 2008 7:59 pm

Was Mendoza licensed?  Maybe a dumb question but…  If she didn’t pay fine, and left the business is she still liable for the fine and who receives the proceeds from the fine?

  Thanks.