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.

David John Klecka Jr. (Principal)
OS/2010021189601

Klecka created a non-genuine email purporting to be from the Arizona Department of Insurance (AZ DOI) regarding the agency’s investigation into Klecka’s activities at his former firm, and then provided a copy of the email to the member firm with which he was associated.

Klecka’s firm commenced an internal investigation of Klecka concerning questionable business activities related to his sale of life insurance policies. During the course of the firm’s review, it was learned that Klecka was the subject of an investigation being conducted by the state regarding activities that occurred while Klecka was associated with another member firm.

Klecka forwarded an email from his personal email address to his managing director at the firm --the forwarded email was purportedly from the state insurance department, which contained a timeline documenting Klecka’s contact with the agency, and the email bore what appeared to be the typed signature of an investigator with the AZ DOI. However, Klecka subsequently admitted that he was not truthful on the dates and fabricated the email to lead his firm to believe that the state investigation was more recent than it actually was. The forged document provided an explanation for Klecka’s failure to disclose the investigation to the firm earlier than he did.

The firm subsequently terminated Klecka for, among other reasons, creating a non-genuine email purporting to be from the AZ DOI regarding its investigation into Klecka’s activities at his former firm. In addition, Klecka failed to appear for a FINRA on-the-record interview.

David John Klecka Jr. (Principal): Barred

Tags: Forgery  Email