FINRA Permanently Bars Peter Thomas Lawrence for Refusing to Cooperate with Investigation into Alleged Signature Forgery

If you are a current or former client of Peter Thomas Lawrence and were recommended variable annuities or other investments while Lawrence was registered with American Portfolios Financial Services, Inc. or Questar Capital Corporation, you should know that according to BrokerCheck, FINRA has permanently barred Lawrence from the securities industry following his refusal to cooperate with a FINRA investigation into, among other things, allegations that he forged a customer’s signature.

According to the AWC, Peter Thomas Lawrence (CRD# 2695687) was previously registered as a General Securities Representative and General Securities Principal, and first became registered with FINRA through an association with a FINRA member firm in March 1996. According to BrokerCheck, Lawrence is not currently registered, and his most recent registration was with American Portfolios Financial Services, Inc. (CRD# 18487) in Hauppauge, New York, from January 2019 through November 2023. According to BrokerCheck, Lawrence’s BrokerCheck record reflects two regulatory events, 17 customer disputes, and two employment separations after allegations.

What FINRA Found

Without admitting or denying the findings, Lawrence consented to the sanction and to the entry of findings that he failed to provide documents and information, and to appear for on-the-record testimony, requested by FINRA in connection with its investigation of, among other things, allegations that he forged a customer’s signature.

According to the AWC, this matter originated from a September 2023 statement of claim filed against Lawrence, alleging that he made unsuitable product recommendations and provided inaccurate portfolio summaries to a customer. According to the AWC, on November 21, 2023, American Portfolios Financial Services, Inc. filed a Form U5 disclosing that it had terminated Lawrence and stating that “[a]mong other deficiencies, Representative provided unapproved reporting statements to a client, and the statements contained inaccuracies.” According to the AWC, on December 10, 2024, American Portfolios Financial Services, Inc. filed a Form U5 amendment disclosing that a former customer of Lawrence’s had filed a written complaint against him alleging that Lawrence “forged signatures to purchase a variable annuity in 2021.”

According to the AWC, on June 5, 2025, FINRA staff sent Lawrence a letter, pursuant to FINRA Rule 8210, requesting that he provide information and documents in connection with FINRA’s investigation of, among other things, allegations that he forged a customer’s signature. According to the AWC, when Lawrence did not respond, FINRA staff sent two additional letters on June 24, 2025 and July 11, 2025, seeking the production of information and documents initially requested in the June 5, 2025 letter. According to the AWC, Lawrence did not produce any of the requested information and documents.

According to the AWC, on August 18, 2025, FINRA staff sent Lawrence a letter requesting that he appear for on-the-record testimony on September 8, 2025 in connection with FINRA’s investigation. According to the AWC, when he failed to appear, FINRA staff sent a second letter on September 8, 2025, requesting that Lawrence appear for on-the-record testimony on September 30, 2025. According to the AWC, Lawrence did not appear for on-the-record testimony.

According to the AWC, by failing to produce the information and documents requested pursuant to FINRA Rule 8210, and by failing to appear for on-the-record testimony pursuant to FINRA Rule 8210, Lawrence violated FINRA Rules 8210 and 2010.

What BrokerCheck Shows

According to BrokerCheck, Lawrence’s BrokerCheck record includes 17 customer disputes, of which 11 have settled and 2 remain pending. The settled disputes involve total settlement payments of over $380,000, with Lawrence’s individual contribution listed as $0.00 in all 11 settled cases, reflecting firm-level settlements.

According to BrokerCheck, the largest settled dispute involved a customer who alleged that products purchased beginning no later than 2012 were unsuitable, and that Lawrence provided inaccurate portfolio summaries in breach of his fiduciary duty to the customer. According to BrokerCheck, that complaint evolved into a FINRA arbitration (Case #23-02596), with alleged damages of $100,000, and settled on July 22, 2024, for $145,000.

According to BrokerCheck, a separate complaint alleged that Lawrence forged customers’ signatures and executed unauthorized trades and transfers in variable annuities, with a settlement of $70,000 on June 10, 2024. According to BrokerCheck, additional settled complaints involve allegations that Lawrence forged signatures to purchase variable annuities in 2023, with one settling for $8,467.19 and another settling for $34,695.87.

According to BrokerCheck, two settled complaints allege that Lawrence purchased variable annuities in 2021 and 2023 without the customers’ knowledge and consent, settling for $11,442.03 and $12,868.28 respectively. According to BrokerCheck, four additional settled complaints involve allegations that variable annuities purchased in 2022 or 2023 were misrepresented or unsuitable, with individual settlement amounts ranging from $12,150.00 to $27,427.48. According to BrokerCheck, a separate settled complaint alleged that information on a disclosure form used for a 2023 variable annuity purchase was omitted and that the customer did not sign the form, settling for $10,804.37.

According to BrokerCheck, one dispute remains pending as of this report, alleging that Lawrence forged suitability documents to justify mutual fund purchases, with alleged damages of $12,500. A second pending disclosure reflects a stale broker-reported version of FINRA arbitration Case #23-02596, which the firm has since reported as settled on July 22, 2024 for $145,000, described above.

A settlement isn’t an admission of wrongdoing. FINRA is clear on that, and so are we. Firms and brokers settle disputes for all kinds of reasons: litigation costs, customer relationships, business optics. We’re not saying the settlement proves anything. What we are saying is that the record exists, it’s public, and if you had a similar experience with Peter Thomas Lawrence, you deserve to know about it.

Prior Regulatory History

According to BrokerCheck, prior to the February 2026 bar, FINRA took a separate disciplinary action against Lawrence on October 3, 2024 in connection with the same investigation. According to BrokerCheck, pursuant to FINRA Rule 9552, Lawrence was suspended from association with any FINRA member firm in all capacities beginning October 28, 2024, with FINRA noting that if Lawrence failed to request termination of the suspension within three months, he would automatically be barred. According to BrokerCheck, the suspension was lifted on January 14, 2025.

According to BrokerCheck, Lawrence was discharged from American Portfolios Financial Services, Inc. on October 27, 2023, with the firm stating that “[a]mong other deficiencies, Representative provided unapproved reporting statements to a client, and the statements contained inaccuracies.” According to BrokerCheck, Lawrence’s record also reflects a voluntary resignation from Pruco Securities, LLC in December 2004 in connection with allegations that a manager had signed agents’ names to applications in an effort to assist them in meeting production requirements.

What the Rules Require

FINRA Rule 8210 gives FINRA the authority to require any person subject to its jurisdiction — including formerly registered brokers — to provide documents, information, and on-the-record testimony in connection with any investigation. The rule states that no member or person shall fail to provide information or testimony or to permit an inspection and copying of books, records, or accounts pursuant to the rule. The obligation survives the end of a broker’s registration: FINRA retains jurisdiction over individuals for two years after their last registration, and over individuals involved in pending matters regardless of registration status.

FINRA Rule 2010 requires associated persons to observe high standards of commercial honor and just and equitable principles of trade in the conduct of their business. A violation of FINRA Rule 8210 is independently a violation of Rule 2010.

A permanent bar for refusing to cooperate is one of the most serious sanctions FINRA imposes. Critically, the bar here does not mean FINRA proved that Lawrence forged signatures or made unsuitable recommendations — it means Lawrence refused to participate in the process FINRA uses to determine whether those things happened. The practical consequence is the same: Lawrence is permanently disqualified from the securities industry and may not work for any FINRA member firm in any capacity, including clerical or ministerial functions.

FINRA Rule 2330(b) imposes specific requirements before any registered representative can recommend the purchase or exchange of a deferred variable annuity. The representative must have a reasonable basis to believe the customer would benefit from the specific features of the annuity, including any living or death benefit, and must consider the customer’s investment objectives, financial situation, tax status, liquidity needs, risk tolerance, and time horizon. For exchanges, the representative must additionally consider whether the customer would incur surrender charges, lose existing benefits, or be subject to a new surrender period. Recommending a variable annuity purchase without a reasonable basis, or recording a transaction without the customer’s knowledge and consent, violates both Rule 2330 and Rule 2010.

FINRA Rule 12206 governs eligibility for arbitration claims. Investors considering a claim should consult with a securities arbitration attorney to evaluate whether their situation falls within the applicable timeframe.

Red Flags to Watch For

Review your account records carefully if you held variable annuity positions or invested in annuity products through your broker. Red flags in cases involving signature forgery and unsuitable annuity recommendations include:

• Variable annuity purchases that appeared in your account without your explicit direction or a conversation you remember having about the specific product
• Documents you may have signed in connection with an annuity that you do not recall reviewing in detail, or forms bearing your signature that you did not sign
• Portfolio summaries or account statements from your broker that did not match the statements you received directly from the annuity company or custodian
• Multiple variable annuity purchases or exchanges over a short period, generating new commissions and surrender periods with each transaction

If any of these patterns apply to your account, a free consultation with a securities law attorney can help you understand whether you have a potential claim for damages.

Sanctions

According to the AWC, Lawrence consented to a bar from associating with any FINRA member in all capacities. According to BrokerCheck, the bar is permanent, with a start date of February 19, 2026, and no end date. According to the AWC, a bar becomes effective upon approval or acceptance of the AWC.

Steps to Take Right Now

1. Gather your account statements, trade confirmations, and any correspondence with your broker or firm, including emails, texts, and written materials about the investments.
2. Look up your broker on FINRA BrokerCheck at brokercheck.finra.org to review their full disclosure record.
3. Contact a securities arbitration attorney for a consultation to evaluate your options.

Rosenberger + Kawabata represents retail investors in FINRA arbitration proceedings involving unsuitable variable annuity recommendations, unauthorized transactions, and signature forgery. Contact Rosenberger + Kawabata online for a free and confidential consultation, or call (310) 894-6921.

The information in this post comes from FINRA’s public records and BrokerCheck database. You can view the full detailed report (CRD# 2695687) here.

You can view the full April 2026 FINRA disciplinary actions report here.