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.

Rod R. Cushing
AWC/2010021662101/January 2012

Cushing instructed administrative personnel at his member firm to prepare forms for clients’ approval that effected changes of address for the customers’ accounts from the customers’ own residential mailing addresses to Cushing’s address. The customers did not live at this address. Cushing caused administrative personnel to prepare forms for client approval that effected a change of address for an additional customer from the customer’s own residential mailing address to the address of Cushing’s neighbor, who also did not live at this address. Cushing then caused the forms to be signed by the customers and submittedto the firm, which made the firm’s books and records inaccurate.

Rod R. Cushing: Fined $15,000; Suspended 45 days

Tags:  Changes Of Address     |    In: Cases of Note : FINRA