Alex Williams (CRD# 2646185), a broker and investment adviser based in New York, has received a pending customer complaint. According...Read More
Denise Bucci: Former Raymond James Broker Suspended; Forgery Allegations
A disciplinary action taken by the Financial Industry Regulatory Authority against former Conshohocken, Pennsylvania broker Denise Bucci (CRD# 1195774) suspended her over allegations she forged signatures. A former representative of Raymond James Financial Services, Bucci was fined $7,500 and suspended from acting as a broker for one year as a result of these findings.
According to a Letter of Acceptance, Waiver, and Consent (No. 2017055313301) dated April 2019, Denise Bucci “forged and falsified at least 99 signatures” between October 2013 and April 2017 while employed at Raymond James Financial Services. The signatures in question included those of her branch manager, on account documents, and firm clients, which she allegedly falsified “by photocopying signatures from previously signed forms and pasting them onto new ones.” FINRA’s findings state that these activities constituted violations of FINRA Rules 2010 and 4511.
FINRA’s findings state specifically that during the relevant period, Bucci was working as a sales assistant for a registered representative and branch manager at her member firm. When the firm’s Asset Management Services Department “rejected” a client form in or around April 2017 due to an outdated signature, according to FINRA, Bucci “submitted a new form that contained an identical signature with an updated date.” Upon being questioned by her manager, Bucci “admitted” she cut and paste the signature from an earlier form, and asserted that this was the sole incident of such activity.
However, according to FINRA, a branch examination found that Bucci had forged the branch manager’s signature “at least 74 times,” in some cases “to conceal from him the fact that she had falsified customer signatures.” The examination also determined that she had falsified client signatures on documents including transfer requests, limited trading requests, client agreements, IRA distribution requests, and ACH profile setup requests, according to FINRA’s findings. The findings state further that when the firm learned of these instances, “she admitted to her misconduct,” from which FINRA states she did not benefit financially. As a result of the foregoing alleged conduct, Denise Bucco was suspended from associating with any FINRA member in all capacities for one year, and was ordered to pay a fine of $7,500.
Denise Bucco is not currently registered as a broker. Her employment history includes Raymond James Financial Services in Conshohocken, Pennsylvania, Wells Fargo Advisors Financial Network, Wells Fargo Advisors, Gruntal & Company, First Union Securities, First Union Capital Markets Corporation, and Prudential Securities. She currently holds no state registrations and has passed three securities industry qualification examinations.