Hal Klein, NewEdge Broker, Suspended over Customer Signatures

Hal Klein (CRD# 1021759[1]), formerly a broker registered with NewEdge Securities, improperly signed customer signatures, according to a disciplinary action. MDF Law is investigating the former Seal Beach, California-based financial professional for similar conduct. If you are a former client with concerns about your investments, call us to speak with an attorney. 

The following post contains additional information about Mr. Klein’s disciplinary history. The details below are sourced from his BrokerCheck profile, a Financial Industry Regulatory Authority record examined on January 29, 2025. 

Sanction Alleges Hal Klein Signed Customer Account Documents

On October 15, 2025, FINRA published a Letter of Acceptance, Waiver, and Consent (No. 2021071463401[2]) outlining its disciplinary action against Mr. Klein. As the Letter alleges, FINRA found that he caused his member firm to maintain inaccurate books and records. He allegedly did so by electronically signing 58 customers’ signatures on account records. These customers included 46 senior citizens. 

As alleged, the documents in question “included account applications, account feature forms, and account transfer forms.” These were all books and records of the firm. The letter notes that none of Mr. Klein’s customers lodged complaints and that the underlying transactions were authorized. Additionally, FINRA found, he incorrectly attested on firm compliance questionnaires “that he had not signed or affixed another person’s signature on a document.”

According to the Letter, the regulator concluded that Mr. Klein violated FINRA Rules 4511 and 2010. As a result, it issued him a three-month suspension from associating with any member firm in all capacities. It also ordered him to pay a fine of $5,000.

Understanding FINRA Rules 4511 and 2010

As FINRA alleged, Mr. Klein violated two industry rules: FINRA Rule 4511 and Rule 2010. Under the former rule, member firms must make and preserve books and records in compliant with industry rules. These include records of brokerage accounts, which must be maintained accurately. Brokers who falsify firm records, FINRA explains, cause their firm to maintain inaccurate records. These are considered violations of Rule 4511, as well as violations of Rule 2010. Under the latter rule, brokers must observe high standards of commercial honor and just and equitable principles of trade. “Falsifying documents,” according to the AWC Letter, “is inconsistent with just and equitable principles of trade.”

Why Did Broker Resign from NewEdge Advisors?

On November 1, 2024, NewEdge Advisors disclosed Mr. Klein’s departure from the firm. As a disclosure on his BrokerCheck record reflects, he voluntarily resigned following FINRA’s disciplinary action suspending and fining him. 

This was not the first time Mr. Klein departed a member firm amidst alleged rule violations. On April 17, 2021, LPL Financial disclosed his firing. As his BrokerCheck record reflects, his termination stemmed from allegations that he “[e]lectronically signed account documents on behalf of customers.” 

FINRA: Broker Last Based in Seal Beach, California

Mr. Klein started working as a broker in 1981, when he joined WZW Financial Services. He went on to work at a number of firms over the years, including Wellington Securities, Associated Securities, and LPL Financial. He joined his most recent firm, NewEdge Securities, in 2021, and was based at its office in Seal Beach, California until 2024. Having been sanctioned by FINRA, he is currently suspended from acting as a broker.

At MDF Law, We Advocate for Investor Rights

MDF Law[3]’s team of seasoned investment fraud attorneys has recovered more than $100 million our clients’ losses. If you have complaints about investments or strategies recommended by Hal Klein, contact our team to discuss potential recovery options. Our lawyers offer free consultations across the US. Your time to file an arbitration claim may be limited, so don’t delay: call 800-767-8040 to speak with our team today.