Stephenie Ashley Collins (CRD #5903192, Clinton, Oklahoma)

An AWC was issued in which Stephenie Ashley Collins (CRD #5903192) was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Collins consented to the sanction and to the entry of findings that she converted customer premium payments for her personal use and benefit. The findings stated that pursuant to the requirements of her member firm’s insurance affiliate, Stephenie Ashley Collins maintained a premium fund account, a bank account in her name into which she was required to deposit insurance customers’ premium payments. The insurance customers’ premium payments deposited into the premium fund account became the property of the firm’s insurance affiliate. Only customer premiums were permitted to be deposited into this account, and Collins had no right to use customer premium funds for any other purpose. Stephenie Ashley Collins converted in excess of $13,000 from the customer premium fund account for her own personal and business use by improperly withholding funds tendered to her by customers that should have been deposited in the premium fund account. In addition, Stephenie Ashley Collins created inaccurate deposit records for the premium fund account. (FINRA Case #2023078014501)