In some cases, records indicated employees received the associated two-factor authentication codes on their own cell phones, and in other cases, the same IP address was associated with both the Thrivent worker sending the email and the individual who signed it electronically.
The enforcement action follows a pair of filings from Thrivent notifying the self-regulatory organization that it had terminated certain employees, according to FINRA.
On Friday, a spokesperson for Thrivent told Law360 via email, “Thrivent takes pride in our strong culture of integrity and business ethics.”
“After identifying inappropriate uses of electronic signatures, Thrivent Investment Management Inc. took steps to address the instances of misuse and continues to refine its controls while working with FINRA to resolve the issues and improve our practices,” the representative said.
FINRA declined to comment on Friday.
FINRA is represented by its own John-Michael Q. Seibler. Thrivent is represented by Jeffrey A. Ziesman of Bryan Cave Leighton Paisner LLP.
