Zena Yofonovich, a former registered representative with Pruco Securities, LLC, consented to, but did not admit to or deny, the Financial Industry Regulatory Authority’s (FINRA) findings that she borrowed money from an elderly customer, neglected to notify her member firm or obtain pre-approval for the loan, and has not repaid the loan.
Zena Yofonovich, of Glenview, Illinois, allegedly borrowed $63,500 from an elderly Pruco customer, withdrawing the funds from the customer’s variable annuity held at the firm. Ms. Yofonovich didn’t notify Pruco of the loan, nor did she obtain the necessary firm pre-approval. Further, FINRA states that Ms. Yofonovich has not repaid the loan. Due to the afore-mentioned misconduct, Zena Yofonovich was suspended from association with any FINRA member for two months. The suspension was in effect from June 5, 2017 through August 4, 2017.
Stockbrokers and other financial industry professionals have been known to engage in different types of misconduct which violate industry and firm rules, practices, and procedures. In order to protect customers from stockbroker misconduct, FINRA rules require broker dealers to establish and implement a supervisory system. The implementation of these rules require supervisors to monitor employees to ensure they comply with federal and state securities laws, securities industry rules and regulations, and the brokerage firm’s own policies and procedures. If broker dealers and/or their supervisors do not establish and implement these protective measures, they may be liable to investors for damages flowing from the misconduct. As a result, investors who have suffered losses because of their stockbroker’s prohibited conduct can file a claim to recover damages against broker dealers, like Pruco Securities, which should consistently oversee its employees in order to prevent stockbroker misconduct.
Have you suffered losses in your Pruco Securities investment account due to your stockbroker’s prohibited conduct? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce is accepting clients with valid claims against Pruco Securities stockbrokers for unauthorized stockbroker misconduct.
The most important of investors’ rights is the right to be informed! This Investors’ Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 35 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities, and investment law issues. The lawyers at our law firm are devoted to protecting investors’ rights throughout the United States and internationally! Please post a comment, call (800) 732-2889, send Mr. Pearce an email at firstname.lastname@example.org, and/or visit our website at www.secatty.com for answers to any of your questions about this blog post and/or any related matter.