A recent article in InvestmentNews, states that the Financial Industry Regulatory Authority Inc. (FINRA) has barred CHRISTOPHER B REYNOLDS (CHRISTOPHER BARRETT REYNOLDS), on August 16, 2024. Reynolds had allegedly been forging clients’ signatures on annuities documents, with the goal of using proceeds of the liquidations of annuities to purchase units of a registered index-linked annuity product and violating Regulation Best Interest, as stated in the FINRA settlement.
According to FINRA’s BrokerCheck, CHRISTOPHER B REYNOLDS, had been in the securities industry for 5 years and was listed with 2 firms. Reynolds was registered at Pruco Securities, LLC of Canonsburg, Pennsylvania, from 09/02/2021 - 01/24/2023. Reynolds was previously listed with Wesbanco Securities, LLC in Ellwood City, Pennsylvania from 05/05/2017 - 03/05/2021.
There is a disclosure on Reynolds’ FINRA CRD report dated January of 2023, an “Employment Separation after Allegations,” discharging Reynolds from Pruco Securities following allegations of, “Registered Representative submitted non-genuine client signatures on multiple applications; with the intent to evade suitability review, failed to disclose transactions as replacements; and used his personal email address to transmit client documents.”
CHRISTOPHER B REYNOLDS agreed to the settlement with FINRA without admitting or denying the FINRA’s findings.
According to the InvestmentNews article, between September 2021 and January 2023 CHRISTOPHER B REYNOLDS allegedly forged the signatures of three customers on 11 documents, including documents concerning withdrawals or surrenders of annuities in violation of FINRA rules. Additionally, by forging clients’ signatures, Reynolds caused Pruco Securities to maintain inaccurate books and records. Also, during that time period, Reynolds recommended four clients make annuity withdrawals or surrenders and reinvest the proceeds in a registered index-linked annuity without having a reasonable basis to believe those transactions were in his clients’ best interests, which according to FINRA, is a violation of Regulation Best Interest.
The article goes on to state that CHRISTOPHER B REYNOLDS allegedly used his own personal email account and cell phone to exchange securities-related communications with firm clients, which is another violation of industry rules, which requires record keeping of advisors’ communications with clients.
If you’ve experienced investment losses due to the actions or recommendations of CHRISTOPHER B REYNOLDS formerly of Pruco Securities, LLC of Canonsburg, Pennsylvania, contact Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your financial losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents our clients nationwide before FINRA on a contingency fee basis.
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