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Robert Bryant: Former Chelsea Financial, AllState Broker Suspended
A disciplinary action taken by the Financial Industry Regulatory Authority against former Lincoln, Nebraska broker Robert Bryant (CRD# 2494572) suspended him over allegations he forged customer signatures. A former representative of Chelsea Financial Services and Allstate Financial Services, Bryant was suspended for three months and fined $5,000.
According to a Letter of Acceptance, Waiver and Consent (No. 2017054741201) dated March 2019, Robert Bryant was a General Securities Representative at Allstate Financial Services when, in November 2016, the firm requested he “obtain updated new account documents” concerning the mutual fund investments in about 157 accounts of his customers. He was given a time period ending January 31, 2017 to file the documents in question. According to FINRA’s findings, while he was updating documents in compliance with Allstate’s request, he “signed client names on missing updated new account documents for nine of his Firm customers” in January and February 2017. FINRA’s findings state that these customers did not provide authorization or consent for the affixing of their signatures on the documents in question, and that consequently Bryant submitted documents that included forged signatures. FINRA’s findings state further that his submission of the new account documents with forged signatures caused his firm to maintain inaccurate books and records. As a result of the foregoing alleged conduct, Robert Bryant was suspended from association with any FINRA member in any capacity for three months. He was also ordered to pay a fine of $5,000.
Robert Bryant was also sanctioned by the Nebraska Department of Banking and Finance in September 2017 in connection to allegations he signed customer signatures on new account documents. In that action, he was ordered to pay a fine of $1,000, plus $1,000 in costs, and was issued a 20-day suspension.
Robert Bryant is not currently registered as a broker or investment advisor. His employment history includes Chelsea Financial Services, Allstate Financial Services in Lincoln, Nebraska, TransAmerica Financial Services, and Smith Hayes Financial Services Corporation. He currently holds no state registrations and has passed four securities industry qualification examinations.