Phillip J.Bucaro Allegedly Engaged in Outside Business Activity Selling Annuities Not Offered by Pruco

California stockbroker fraud attorneyBetween 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.

For brokercheck report and additional info click here!

Alan Rosca (1169 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.