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Written by 7:39 pm Broker Investigations

James Pelletiere, Pruco Securities Advisor, Barred by FINRA 

James Pelletiere, Pruco Securities Advisor, Barred by FINRA featured by top securities fraud attorneys, the White Law Group

FINRA Bars James Pelletiere after Allegations of Misconduct 

According to public records, the Financial Industry Regulatory Authority (FINRA) has barred James Pelletiere (CRD#: 2628708) from associating with any FINRA member at any time as of October 4, 2023. FINRA is the self-regulator who oversees brokers and brokerage firms. 

Pelletiere reportedly refused to provide information and documents requested by FINRA. The regulator was reportedly investigating whether Pelletiere had, among other things, misused customer funds and accepted cash payments from a client while he was affiliated with Pruco Securities. 

On December 16, 2022, Pruco Securities reported a customer complaint alleging that Pelletiere failed to disclose certain surrender fees associated with the purchase of a life insurance policy and an unrelated internal review involving, among other things, whether Pelletiere had mishandled customer funds. On March 31, 2023, Pruco reportedly disclosed that Pelletiere had accepted cash from a customer that he then deposited in his personal bank account.

James Pelletiere – FINRA BrokerCheck Profile   

According to Pelletiere’s FINRA Brokercheck report, he has 1 customer complaint filed against him.  

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.   

BrokerCheck provides investors with detailed information about the professional history, qualifications, and regulatory actions of brokers and brokerage firms. 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.   

According to his FINRA BrokerCheck report, Pelletiere was reportedly affiliated with the following firms during his career in the securities industry, among others: 

06/10/2019 – 10/31/2022, PRUCO SECURITIES, LLC. (CRD#:5685), DOWNERS GROVE, IL,
08/13/2008 – 06/07/2019, MML INVESTORS SERVICES, LLC (CRD#:10409), CHICAGO, IL
06/04/2004 – 08/04/2008, PARK AVENUE SECURITIES LLC (CRD#:46173), HIGHLAND PARK, IL 

Broker Due Diligence   

Brokers and brokerage firms owe a duty of care and loyalty to their customers. The broker must use the standard of care and diligence needed to protect the customer’s interest. Failure to fulfill that duty may constitute negligence or malpractice by a broker. The duty of loyalty requires that the broker refrain from self-dealing and place the interests of the customer first.    

FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial professional.  It provides investors with an opportunity to attempt to recoup their investment losses and is an alternative to filing such claims in court.     

If you have suffered losses investing with James Pelletiere, 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.

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 fraud losses.  For more information, please visit our website, www.whitesecuritieslaw.com.       





Tags: , , Last modified: October 17, 2023