Financial Industry Regulatory Authority (FINRA) BrokerCheck shows disclosures about securities broker Christopher Barrett Reynolds [CRD: 5976029, Canonsburg, Pennsylvania]. Reynolds worked for Pruco Securities LLC from September 2, 2021, to January 24, 2023, and Wesbanco Securities Inc. from May 5, 2017, to March 5, 2021. Recent client disputes and regulatory actions about Reynolds involve allegations of misconduct. Keep reading to learn more about these disclosures and their outcomes.
On August 16, 2024, FINRA initiated disciplinary action about Christopher Reynolds, accusing him of forging client signatures on 11 account documents for three clients without their permission. These documents, which included transfer of assets forms and withdrawal forms, were meant for the firm’s recordkeeping. Additionally, Reynolds supposedly violated the Securities Exchange Act of 1934 by recommending withdrawals from annuities and reinvesting the proceeds into registered index-linked annuities without considering the clients' best interests. He allegedly caused over $32,000 in penalties and adverse tax consequences for his clients. Pruco Securities LLC either reversed these transactions or paid restitution as a result. Notably, Reynolds was permanently barred from the securities industry.
On July 10, 2023, a client of Pruco Securities LLC made a complaint accusing Christopher Reynolds of failing to disclose important facts about the replacement of a policy, leading to taxable events. The client alleged $195,485 in damages due to the conduct. On June 25, 2024, the case settled, and the firm compensated the client $42,865.27.
On January 3, 2023, Pruco Securities LLC terminated Christopher Reynolds for allegedly submitting non-genuine client signatures on applications. The firm alleged that Reynolds aimed to bypass suitability reviews and failed to disclose that certain transactions were replacements. Supposedly, Reynolds used his personal email address to send client documents, a violation of firm policy.
If you’ve experienced issues related to Christopher Reynolds or other brokers, contact Soreide Law Group online or at (888) 760-6552 to speak with a securities attorney for more information. Reynolds and the firms he worked for deny any allegations of sales practice violations. Soreide Law Group has experience representing investors throughout the country. The firm handles cases on a contingency basis.
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