In June 2013,  FINRA reported that it had fined and suspended for five months New York Registered Representative Sheila J. Justin.

During her association with Hazard & Siegel, Inc., Ms. Justin was listed as the broker of record on several accounts and variable annuity transactions, but allowed another individual to service the accounts and effect the transactions.  The findings state that she knew that the individual signed her name on at least 332 variable annuity applications, thus rendering these records and related books and records of her member firm inaccurate.  This conduct constitutes violations of FINRA’s rule prohibiting unethical conduct and recordkeeping.

In settling this matter, Sheila J. Justin neither admitted nor denied the charges, but consented to the entry of FINRA’s findings.  It is unclear whether any of the 332 customers initiated FINRA arbitration proceedings, or any other type of securities arbitration.