Former Pruco Securities, LLC Broker Roger Duvall Barred by FINRA
Posted on Monday, February 8th, 2021 at 8:39 pm
Erez Law is currently investigating former Pruco Securities, LLC broker Roger Duvall (CRD# 2503718) who was barred by FINRA. Duvall was registered with Pruco Securities, LLC in Bellevue, Washington from 2018 to 2019. Previously, he was MML Investors Services, LLC in Spokane, Washington from 2017 to 2018 and previously with MSI Financial Services, Inc. in Spokane, Washington from 2007 to 2017.
In September 2020, FINRA barred Duvall after he “consented to the sanction and to the entry of findings that he converted approximately $130,000 from elderly customers for his own personal use. The findings stated that Duval convinced the elderly customers to establish and maintain brokerage accounts at a FINRA member firm, away from his employer member firms. Duval used the customers’ login credentials to access these accounts and wrote himself checks without their knowledge or authorization. Duval deposited these checks into his personal checking account and then transferred some of these funds into his personal brokerage account.”
In May 2019, the Securities Division of Washington “Entered a summary order to suspend registrations and notice of intent to enter an order to revoke registrations, deny future registrations, impose fines, and charge costs against Roger Allan Duval. The Summary Order alleges that between June 2017 and April 2019, Duval made unauthorized withdrawals totaling $246,400 from three Washington resident brokerage accounts. Duval misappropriated the funds by depositing them into a credit union account under his control. Two of the accounts are held by elderly residents, and one account was owned by a deceased resident, which Duval withdrew funds from soon after the resident’s death in 2017. The Summary Order suspends Duval’s investment adviser representative and securities salesperson registration and gives notice of the Securities Division’s intent to enter an order to revoke Duval’s securities registrations in Washington, to deny future securities registration applications by Duval, and to impose fines and costs.”
Duvall has been the subject of three customer complaints between 2000 and 2020, one of which was denied, according to his CRD report. The most recent complaint was regarding:
September 2020. “Claimants allege that, before becoming associated with the firm, the former representative obtained a loan in March 2018 that was not paid back, and that during and after his association with the firm, beginning January 2019, the representative transferred funds from accounts held away from the firm without their knowledge or consent, and made unspecified unsuitable recommendations.” The case is currently pending. The complaint took place while Duvall was registered with Pruco Securities, LLC and was regarding loans and unspecified accounts.
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, Pruco Securities, LLC may be liable for investment or other losses suffered by Duvall’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.