Signator Investors, Inc. Fined $450,000 for Supervisory Failures

August 13, 2015

Signator Investors, Inc. and Gregory J. Mitchell, Agency Compliance Specialist for Signator’s Vienna, Virginia office entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA).  Signator was charged with failing to have adequate procedures regarding the use of consolidated reports, failing to adequately review incoming and outgoing correspondence and having inadequate procedures related to branch audit reviews.

Mitchell was charged with failing to enforce firm policies and procedures relate to client file and reviews and branch audits.

AWC NO. 20120327824-02

 

Signator was censured and fined $450,000. Mitchell was put on 7 month supervisory suspension and fined $10,000.

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