Pruco Securities Broker Engaged in Outside Business Activities

Posted on February 20th, 2015 at 10:40 AM
Pruco Securities Broker Engaged in Outside Business Activities

From the Desk of Jim Eccleston at Eccleston Law Offices:

According to FINRA reports, Terry J. Bagwell, a broker with Pruco Securities, is being subject to multiple customer complaints and arbitrations as a result of allegedly being engaged in the sale of unregistered securities, which may have been a Ponzi scheme.

Brokerage firms like Pruco Securities must strictly supervise stockbrokers like Terry Bagwell to ensure that they follow FINRA rules and only sell securities approved by the firm. In cases where a stockbroker sells securities not-approved by the firm, the brokerage firm itself may be held liable for “selling away” if investors suffer losses in unapproved investments. Regulators routinely bring enforcement actions against not only reps but also increasingly against supervisors. 

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: FINRA, Ponzi scheme, securities, Eccleston Law

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