Tim Hetrick: Boise Broker Sanctioned Over Alleged Forgeries
Former US Brokerage broker Tim Hetrick (CRD# 2048466) has been sanctioned by the Financial Industry Regulatory Authority (FINRA) in connection to allegations he refused to cooperate with an investigation into forged customer signatures. Previously associated with the firm’s office in Boise, Idaho, he was barred from associating with FINRA.
According to a Letter of Acceptance, Waiver, and Consent (No. 2018057098801) dated April 2020, Tim Hetrick was associated with US Brokerage as a General Securities Representative from 2002 until his voluntary departure in August 2019. FINRA initiated an investigation into “potential forgeries… of customer signatures on penny stock disclosure and authorization forms,” in connection with which it sent him a request on March 26, 2020 to provide on-the-record testimony to FINRA. The findings state that he indicated to FINRA via an email from counsel on that date that he would not appear for the requested testimony “at any time.” FINRA concludes that this refusal violated FINRA Rules 2010 and 8210. As a result of the foregoing alleged conduct, he was barred from association in any capacity with any FINRA member firm.
His BrokerCheck report also lists one customer complaint against him. Filed in 2017, the complaint alleged that as a representative of US Brokerage, he converted funds, executed unauthorized trades, breached contract, breached his fiduciary duty, violated the Idaho Uniform Securities Act, acted negligently, and committed fraud in connection to penny stock investments. The complaint resulted in an award to the customer of $35,000.
Tim Hetrick is currently not registered as a broker. His previous registrations include US Brokerage, Paulson Investment Company, Northwestern Mutual Investment Services, and Robert W. Baird & Company. He has passed three securities industry qualifying examinations: Uniform Securities Agent State Law Examination, or Series 63; Securities Industry Essentials Examination, or SIE; and General Securities Representative Examination, or Series 7. His BrokerCheck report lists zero state securities licenses. (Information current as of June 3, 2020.)
