On August 7, 1992, Arthur Apostol entered the securities industry. From May 31, 2011 through May 11, 2012 Mr. Apostol was employed with LPL Financial. He is currently not registered with a FINRA member firm.
On February 5, 2013, Arthur Apostol and FINRA entered into a letter of acceptance, waiver and consent, known as an AWC (No. 2012032570701). According to the AWC, while Mr. Apostol was transitioning from one FINRA member to another he affixed at least four customers’ signatures onto new account forms without their consent. These forms were submitted to LPL Financial. In addition, Mr. Apostol asked other customers to sign blank account forms for future use. This activity constituted a violation of FINRA Rule 2010.
In connection with this activity, Arthur Apostol was fined $5,000 and was suspended for three months from associating with any FINRA member firm. For more information on Arthur Apostol’s fine and suspension, please visit FINRA’s website.