Erez Law is currently investigating former Regulus Advisors, LLC broker Kurt Berry (CRD# 4550773) regarding oil and gas sector losses. He was registered with Vanderbilt Securities, LLC in Elizabethton, Tennessee, from 2019 to 2022, Regulus Advisors, LLC in Rockford, Illinois, from 2016 to 2019, The O.N. Equity Sales Company in Rockford, Illinois, from 2011 to 2016, MML Investors Services, LLC in Loves Park, Illinois, from 2005 to 2011, and Pruco Securities, LLC in Newark, New Jersey, from 2003 to 2005, when he was terminated regarding, “registered representative made unsuitable recommendations in connection with the sale of variable annuities. allegations confirmed.”
In June 2024, FINRA suspended him for six months and sanctioned him to pay a $5,000 civil and administrative penalty and $8,000 in disgorgement. He consented to the sanctions and to the entry of findings that he “participated in private securities transactions involving customers without providing prior written notice to his member firms or receiving approval from them.” FINRA found that his customers invested $517,410 in oil and gas wells through a series of securities offerings.
Kurt Berry Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
November 2023. “When making the initial recommendations, Respondents affirmatively represented to Claimants that the investments were “safe” and consistent with their investment objectives of generating income with the ability to preserve principal. As set forth above, at the Claimants’ stage of life, they were not in a position to recover money loss. To this end, Respondents represented that the Resolute/Petrorock Investments were non-correlated alternatives to the stock market, which would not experience volatility. Respondents further touted the so-called tax benefits of investing in oil and gas securities structured like the Resolute/Petrorock Investments. Respondents never balanced the presentation with a discussion of risks. They downplayed the boilerplate disclosure language that appeared in the offering documents as mandatory disclosure language that would have no application.” The customer is seeking $473,000 in damages, and the case is currently pending. The complaint took place while he was registered with Regulus Advisors, LLC, and it was regarding direct investments and oil and gas sector securities.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Regulus Advisors, LLC may be liable for investment or other losses suffered by Kurt Berry’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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