PNC Investments Regulatory Sanctions Review
Are you concerned about your investment with PNC Investments? The securities attorneys at The White Law Group are investigating potential claims involving the firm’s failure to properly supervise its representatives—particularly regarding variable annuity exchanges.
FINRA Sanctions PNC Investments – June 2025
According to a recent Letter of Acceptance, Waiver, and Consent (AWC) published by the Financial Industry Regulatory Authority (FINRA), PNC Investments (PNCI) was reportedly censured and fined $200,000 for supervisory failures related to variable annuity (VA) exchanges.
From at least June 2021 to the present, PNCI reportedly failed to establish and maintain a supervisory system reasonably designed to surveil the rates of deferred VA exchanges. Specifically, the firm’s written supervisory procedures (WSPs):
- Did not require a review of representatives with potentially excessive exchange rates;
- Failed to guide supervisors on how to identify or evaluate potentially unsuitable VA exchange practices;
- Did not require further review or tracking of brokers with potentially inappropriate levels of annuity exchange activity.
As a result, PNC Investments violated FINRA Rules 3110 (Supervision), 2330 (Variable Annuities), and 2010 (Standards of Commercial Honor and Principles of Trade).
Read the full AWC on FINRA’s website ›
PNC Investments – Background
PNC Investments LLC, a subsidiary of PNC Bank, is a FINRA-registered broker-dealer headquartered in Pittsburgh, PA. The firm offers a range of investment products and services, including mutual funds, annuities, and retirement planning.
As of June 2025, PNC Investments has over 1,000 registered representatives and operates in numerous states across the U.S. According to its broker report, the firm has a history of regulatory issues including 13 regulatory events and 6 arbitrations.
PNC Brokers with Customer Complaints
Several current or former PNC Investments brokers have been the subject of customer complaints and regulatory disclosures. These include:
- Maria Leon – reportedly discharged, then later barred after an investigation into misappropriation of customer funds.
- Kittiany Barios – Reportedly barred after allegations of outside business activities
- Philip Brunson – Involved in allegations of conversion of funds
Investors can review individual broker records using FINRA’s BrokerCheck tool.
FINRA Arbitration – Recovering Investment Losses
If you have concerns about your investments with PNC Investments or one of its financial professionals, you may be able to file a claim through FINRA arbitration. This private dispute resolution forum is used to resolve claims between investors and brokerage firms without going to court.
FINRA Arbitration
- Faster than traditional lawsuits (typically 12–18 months)
- Private process with industry-knowledgeable arbitrators
- Potential recovery of losses due to broker misconduct or firm negligence
Broker Due Diligence Failures
Firms like PNC Investments have a duty to supervise their brokers and ensure that investment recommendations—especially complex products like variable annuities—are suitable for the customer. When firms fail to properly monitor broker behavior or implement effective supervisory systems, investors can suffer significant financial harm.
Free Consultation with a Securities Attorney
If you believe that you lost money due to improper investment recommendations, unsuitable annuity sales, or a lack of supervision at PNC Investments, contact The White Law Group for a free consultation.
Our attorneys have recovered millions of dollars for investors nationwide through FINRA arbitration.
Call 888-637-5510 Or visit www.whitesecuritieslaw.com
Frequently Asked Questions
1. Can I sue PNC Investments for investment losses?
While you may not be able to sue in court, you can typically file a FINRA arbitration claim if the losses were due to misconduct or negligence by the firm or its representatives.
2. What is a variable annuity exchange and why is it risky?
A variable annuity exchange involves replacing one annuity with another. These transactions can carry high fees, surrender charges, and tax consequences—and may be inappropriate for certain investors, especially if done frequently.
3. What should I do if I believe my financial advisor acted improperly?
Start by reviewing your account documents and contacting a securities attorney to discuss your potential claim. You can also check your advisor’s record using FINRA BrokerCheck.
