Christopher Barrett Reynolds after Allegations of Variable Annuity Switching
According to the Financial Industry Regulatory Authority (FINRA) on August 16th, 2024, the regulator has reportedly barred financial advisor Christopher Barrett Reynolds (CRD#: 5976029) from acting as a broker.
Reynolds was reportedly barred by FINRA for alleged misconduct, including purportedly forging customer signatures and making unsuitable investment recommendations. Without admitting or denying the allegations, Reynolds reportedly agreed to the sanctions.
FINRA found that he allegedly forged customer signatures on 11 account documents without their consent, including forms for asset transfers and annuity withdrawals. He also reportedly recommended annuity withdrawals or surrenders that were not in the customers’ best interests, resulting in over $32,000 in surrender fees and adverse tax consequences.
Reynolds purportedly failed to conduct proper analysis of the products and did not consider better alternatives like 1035 exchanges. His firm later reversed or compensated customers for the transactions. Additionally, Reynolds allegedly violated record keeping rules by using personal email and phone for securities-related communications without forwarding them to the firm for proper review.
FINRA BrokerCheck – Christopher Barrett Reynolds
The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.
Investors can use the tool to verify whether a broker or brokerage firm is registered with FINRA, as well as to review their employment history, licensing status, and any regulatory actions or complaints filed against them.
Christopher Barrett Reynolds was reportedly registered with the following brokerage firms during his career in the securities industry:
09/02/2021 – 01/24/2023 PRUCO SECURITIES, LLC. (CRD#:5685)
Canonsburg, PA
05/05/2017 – 03/05/2021 WESBANCO SECURITIES, INC. (CRD#:43276)
Ellwood City, PA
Broker Due Diligence
Under the “Regulation best interest” standard, broker-dealers are obligated to perform due diligence when evaluating any investment. If your financial advisor fails to perform due diligence on an investment before recommending it to you, they could be held liable for investment losses.
If your advisor unsuitably recommended an investment offering and you lost money, the securities attorneys at The White Law Group may be able to file a complaint for you. You may be able to recover losses by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.
Free Consultation with National Securities Attorneys
If you have suffered investment losses with Christopher Barrett Reynolds and Pruco Securities, the securities attorneys at the White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
About the White Law Group
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to helping investors in claims in all 50 states against their financial professional or brokerage firm. Since the firm launched in 2010, it has handled over 700 FINRA arbitration cases.
Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among many others.
With over 30 years of securities law experience, The White Law Group has the expertise to help investors to recover their securities fraud losses.
Last modified: September 27, 2024
