- September 15, 2020
- BMO Harris
Lori Ann Sacco (CRD # 5527270) was a Financial Advisor at BMO Harris Financial Adivsors, Inc. in Wauwatosa, WI. Lori Ann Sacco was in the securities industry from 2008 to 2018 and previously worked at Fifth Third Securities, Inc., and Associated Investment Services, Inc. in Chicago, IL.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on September 9, 2020, Lori Ann Sacco was sanctioned by FINRA for allegedly altering client account documents. Lori Ann Sacco was suspended for a period of six months and fined $10,000. According to the FINRA sanction:
“Without admitting or denying the findings, Sacco consented to the sanctions and to the entry of findings that she falsified member firm customer account documents, without the customers’ prior knowledge or consent, by forging and cutting and pasting the customers’ signatures or initials on the documents that she then submitted to the firm for processing as if they had been properly executed. The findings stated that these firm documents included new account applications, ACH authorization forms, transaction acknowledgement forms, an inter-brokerage account transfer form, and a letter submitted to a court stating location of domicile. As a result of this conduct, Sacco created and submitted documents that purported to have actual customer signatures and initials affixed, when in fact they did not, and therefore forged and falsified the documents. The findings also stated that by forging and falsifying signatures or initials on these forms, Sacco caused the firm to make and preserve inaccurate books and records.”
For a copy of the FINRA sanction, click here
In addition, Lori Ann Sacco had an employment separation November 2018 after allegations. According to FINRA Lori Ann Sacco was permitted to resign “while accused of violating regulations and industry standards of conduct. Permitted to resign after allegations were made that accused her of altering documents.”
For a copy of Lori Ann Sacco’s CRD, click here
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