North Carolina Rep Fined and Suspended by FINRA

John Herman Fick (CRD #4197483, Registered Representative, Fuquay-Varina, North Carolina)

was fined $5,000 and suspended from association with any FINRA member in any capacity for 18 months. This fine must be paid either upon Fick’s reassociation with a FINRA member firm after his suspension, or before the filing of any application or request for relief from any statutory disqualification, whichever is earlier. Without admitting or denying the findings, Fick has consented to the described sanctions and to the entry of findings that he signed customers’ names to insurance policy-related documents without the customers’ knowledge or consent.

The FINRA findings said Fick falsified an insurance application for a customer. Fick was no longer associated with a member firm, and he was unable to sell his former firm’s insurance products, and never submitted to the former firm the application that the customer had completed and returned to him. Fick filled out an insurance application for the customer from his present firm’s parent company, using an incorrect address for the customer’s residence address on the application and incorrect information for the customer on the application. Without authorization to do so, Fick signed the customer’s name on the insurance application and submitted it to the insurance company. An official from the company canceled it before a policy was issued. FINRA's findings also stated that while associated with another member firm, Fick signed a customer’s name on an insurance policy receipt and a payment service form without authorization.  The firm terminated Fick when the unauthorized signatures were discovered.

The suspension is in effect from May 7, 2012, through November 6, 2013.

(FINRA Case #2010025071201 ) 

This information was on FINRA’s website under “Disciplinary and Other FINRA Actions, June, 2012. 

Securities Lawyer, Lars K. Soreide, of Soreide Law Group, PLLC, has represented clients before FINRA nationwide. If you have sustained investment losses due to your stock broker/dealer, or financial advisor’s recommendations, call for a free consultation on how to potentially recover your losses. To speak with an attorney call 888-760-6552, or visit our website at: https://www.securitieslawyer.com.