Phillip J.Bucaro Allegedly Engaged in Outside Business Activity Selling Annuities Not Offered by Pruco
Between March 9, 2009 and May 11, 2011, Phillip J. Bucaro, of a Chicago, Illinois branch of The Prudential Insurance Company of America and Pruco Securities, LLC, engaged in outside business activities by selling equity indexed annuities not offered by his member firm, a FINRA Letter of Acceptance, Waiver and Consent (AWC) alleges. These outside business activities accrued $203,000 in compensation for sales of equity indexed annuities (EIAs), to 18 Pruco customers, the AWC reports. None of the instruments which Bucaro sold these 18 customers was on Pruco’s approved product list, FINRA alleges.
Bucaro Accepts Sanctions
Bucaro consented to the following sanctions: a four-month suspension from association with any FINRA-registered firm, and a $7,500 fine, the AWC alleges. Bucaro has no previous disciplinary history, the AWC notes.
Investment Fraud Lawyers Investigating
The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.
Broker: Phillip J. Bucaro
Status: INVESTIGATED by Peiffer Rosca.
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