The American Financial Industry Regulatory Authority (Finra) fined Synovus Securities, Inc. 315,000 dollars and blamed after the claim that the company failed to properly supervise the electronic signatures, which led to widely forgery and forgery of customer and employees’ documents.
According to the letter of acceptance, concession and approval, violations occurred between January 2022 and September 2025.
According to Synovus’s failure to maintain a supervisory system capable of discovering electronic forgery, it led to fraud to the signature of more than 100 customers through more than 150 documents and more than 500 forged employee signature.
It is said that misconduct has left the company “hundreds of books and inaccurate records.
The organizer said that Synovus has violated many major rules, including the Finra 3110, 4511 and 2010 rules, as well as section 17 (A) of the 1934 securities exchange law and the Accedate Sriet 17A-3 law, which requires companies to maintain accurate books and records.
Finra added that the company failed to investigate the red flags or implement sufficient controls, noting that its written supervisory procedures did not address the electronic signature until April 2024.
The problem was discovered only after operating employees noticed violations in September 2023. Synovus later confirmed that all affected clients had authorized transactions and implement new guarantees.
The company agreed to the sanctions without recognizing or rejecting Venra’s results. The organizer said that the issue emphasizes the importance of strong supervision of digital documents and electronic authentication operations in the stock industry.