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.

Matthew Mark Rairigh
AWC/2009018240001

Rairigh submitted false life insurance applications to an insurance carrier in order to generate commissions and to inflate his production numbers. The proposed insureds had never agreed to apply for the policies and the policies were submitted without their knowledge or consent. The Rairigh completed the life insurance applications, falsified the customers’ signatures, listed his business address as the address to send the next quarterly premium notice and paid the initial premium. After the life insurance policy was issued, Rairigh would take the policy to the customer and seek to convince the customer to keep the policy by explaining that the customer merely had to continue to pay the quarterly premiums in order to keep it.

Matthew Mark Rairigh : Barred

Tags: Production Quota