Re Sofela Kehinde Sowunmi, File No. 201328
The MFDA released reasons for decisions in relation to a settlement agreement reached in connection with incomplete and blank pre-signed forms used to process transactions. The MFDA noted that there was no evidence that any of the transactions in the account were unauthorized. The MFDA warned that the fact that the Respondent cited convenience to the client as reason for using the blank and pre-signed forms is not a mitigating factor.
The Respondent agreed to a fine of $2,000 and costs of $1,000.
The settlement agreement can be accessed here.