Synovus Securities fined for alleged forgery, falsification of over 500 documents
Columbus-based Synovus Securities has accepted the findings of a federal agency’s investigation into allegations of forgery and falsification of electronic signatures, resulting in a $315,000 fine and a censure, according to a regulatory document.
William Brooks, chief compliance officer for Synovus Securities, signed Sept. 29 the letter of Acceptance, Waiver and Consent from the Financial Industry Regulatory Authority. Thomas Potter III of the Nashville law firm Burr & Furman, serving as counsel for Synovus Securities, also signed the waiver letter.
Asked whether Synovus has any comment about the allegations, Synovus communications director Audria Belton and Synovus communications manager Tiffany Capuano said Oct. 9 in an email to the Ledger-Enquirer they have “nothing further to provide on this issue.”
Then, on Wednesday, the Ledger-Enquirer received this statement from Belton: “Two years ago, Synovus Securities, Inc. discovered issues related to the electronic execution of some documents. We immediately investigated and corrected the issues. No financial harm was caused to our clients, and no clients have complained to Synovus Securities. Synovus Securities self-reported the incident to FINRA, which led to the regulator’s investigation and settlement.”
The FINRA letter notes that Synovus accepts and consents to the findings “without admitting or denying them.”
Allegations against Synovus Securities
Synovus Securities is a wholly owned subsidiary of Synovus Financial Corp., which is merging with Pinnacle Financial Partners of Nashville. Approximately 250 registered representatives across 90 branch offices work for Synovus Securities, according to FINRA.
From January 2022 to September 2025, Synovus Securities failed to establish, maintain and enforce “a reasonably designed supervisory system, including written supervisory procedures concerning forgery and falsification of electronic signatures,” the regulatory authority said in the Acceptance, Waiver and Consent letter.
As a result, the regulatory authority said, “the firm failed to detect that associated persons at one branch collectively forged or falsified more than 100 customers’ signatures on more than 150 documents, and that firm personnel forged or falsified registered representatives’ signatures on more than 500 documents.”
All of which means “these forgeries and falsifications resulted in the firm maintaining hundreds of inaccurate books and records,” according to the regulatory authority.
“This matter originated from … filings related to four of its former associated persons,” the regulatory authority said.
By signing the letter, Synovus Securities waived the right to appeal this decision to the National Adjudicatory Council, the U.S. Securities and Exchange Commission and the U.S. Court of Appeals, according to the regulatory authority.
FINRA also said, “Submission of the AWC is voluntary and will not resolve this matter unless and until it has been reviewed and accepted by the NAC, a Review Subcommittee of the NAC or the Office of Disciplinary Affairs.”
This story was originally published October 14, 2025 at 6:00 AM.
