Investors potentially experienced sales practice violations by securities broker Michael Scott Arteca [CRD: 4550695, Melville, New York], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Michael Arteca worked for Ameritas Investment Corp. from September 7, 2010, to July 27, 2017, for Pruco Securities LLC from September 5, 2017, to November 14, 2024, and has been registered with LPL Enterprise LLC since November 14, 2024. Investors should continue reviewing this article to learn more about disclosures involving Michael Arteca.
Evidently, on August 8, 2023, a Pruco Securities LLC client filed a complaint about Michael Arteca. Mainly, the client alleged that Arteca made omissions regarding fees, guarantees, and risk associated with distributions and spousal benefits. For this reason, the client allegedly incurred damages related to variable annuities. Therefore, the client requested compensation from Pruco Securities LLC or Arteca. The complaint was later denied on October 6, 2023.
Also, a client filed a complaint about Michael Arteca. Primarily, the client alleged that Arteca made omissions by not fully disclosing all the facts regarding suitability and surrender charges. Because of this, the client allegedly sustained damages associated with life insurance products. As a result, on February 13, 2023, PRUCO Securities LLC settled this matter by paying the client $76,675.60 in damages.
Notably, a client of Ameritas Investment Corp. disputed Arteca’s sales practices, according to a complaint. Allegedly, Arteca made misrepresentations in connection with the purchase of variable annuities and life insurance products. It appears that Arteca allegedly caused the client to sustain damages connected to life insurance products and variable annuities. Consequently, Ameritas Investment Corp. opted to settle the matter on April 23, 2018, by compensating the client in the amount of $64,227.67.
Do you need clarification on any investment losses relating to Michael Arteca? You can contact Soreide Law Group online or at (888) 760-6552 and talk to a securities lawyer regarding a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States. Also, the firm takes cases on a contingency fee arrangement and advances all costs. Arteca and brokerage firms Arteca worked for deny accusations of sales practice violations.
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