Synovus Securities, Inc. has agreed to pay a fine of $315,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).
From January 2022 to September 2025, Synovus failed to establish, maintain, and enforce a reasonably designed supervisory system, including written supervisory procedures (WSPs), concerning forgery and falsification of electronic signatures.
As a result, 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.
These forgeries and falsifications resulted in the firm maintaining hundreds of inaccurate books and records.
Therefore, Synovus violated FINRA Rules 3110, 4511, and 2010, Section 17(a) of the Securities Exchange Act of 1934, and Exchange Act Rule 17a-3.
On top of $315,000 fine, the firm has agreed to a censure.
Synovus Securities, Inc. has been a FINRA member since October 1983 and is a full- service broker-dealer for retail investors. The firm has approximately 250 registered representatives across approximately 90 branch offices and is headquartered in Columbus, Georgia.
