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Broker Thomas Barton III Barred By FINRA For Alleged Forgery

Thomas Barton III (CRD#: 6908590) is a previously registered Broker and previously registered Investment Advisor.

Broker’s Background

He entered the securities industry in 2019 and previously worked for Mutual of Omaha Investor Services, Inc.; and Cambridge Investment Research, Inc.

Current And Past Allegations Of Conduct Leading To Investment Loss

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in December 2021, FINRA sanctioned Thomas Barton III, barring him from all capacities indefinitely beginning December 10, 2021. The FINRA sanction states, “Without admitting or denying the findings, Barton consented to the sanction and to the entry of findings that he electronically signed the names of individuals on fictitious insurance policy applications without their prior permission and submitted the forged applications to an insurance company. The findings stated that on each application, Barton designated his own bank account for the automatic premium payments. In addition, after one of the individuals contacted the insurance company and inquired about why she and her spouse had been issued policies, Barton claimed that the policies had been issued by mistake. Barton did not disclose one of the unauthorized applications.”

For a copy of the FINRA sanction, click here.

In addition, Thomas Barton III has been the subject of one employment disclosure:

  • April 2021 – “Representative was terminated by the firm’s parent company for submitting unauthorized insurance applications, falsifying information and failing to follow e-signature procedures.” Thomas Barton III was separated from Mutual of Omaha Investor Services, Inc.

For a copy of Thomas Barton III’s FINRA BrokerCheck, click here.

We Help Investors Recover Investment Losses

FINRA regulations require that a customer’s written authorization is required before a broker-dealer can carry out transactions in the customer’s account. In addition, the broker-dealer’s member firm needs to approve the broker-dealer’s authorization. These measures are intended to protect the customer. Discretionary trading allows the broker-dealer to unilaterally decide to buy or sell securities at any price and not have to check with the client first. Exercising discretion without authorization can be costly to investors, and broker-dealers and their member firms, too.

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis.  Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (800) 931-8452 or by email at mwolper@wolperlawfirm.com.

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