NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.

Chuck Richard Hayworth
AWC/2007010709901

Hayworth prepared and submitted 403(b) Employee Retirement Income Security Act (ERISA) Distribution Request forms on public investors’ behalf authorizing the distribution of 403(b) assets to rollover Individual Retirement Accounts (IRAs) at his member firm. Although the investors had consented to the transfers, they were ineligible for rollovers because they were currently still employed by the 403(b) plan sponsor, and Hayworth was aware of their ineligibility but provided false employment-status information and forged the plan administrator’s signature on each distribution request form to facilitate the rollovers. 

Chuck Richard Hayworth: Barred