ROSALINE ALAM Barred by FINRA

On June 11, 2024, the Financial Industry Regulatory Authority (FINRA), permanently barred ROSALINE ALAM (ROSALINE ALRACHID), a former broker with Pruco Securities of Claremont, California, for allegedly refusing to turn over documents related to her firing from the securities firm for allegedly misappropriating an elderly client’s funds.

According to FINRA’s BrokerCheck, available to the public on FINRA’s website, without admitting or denying FINRA’s findings, ROSALINE ALAM consented to the sanction and to the entry of findings that she refused to provide documents and information requested by FINRA in connection to allegations made on her Form U5 by her member firm. FINRA’s findings stated that Alam was alleged to have misappropriated funds from an elderly client and, in violation of company policy, had been named a beneficiary in the client's will.

ROSALINE ALAM had been with Pruco Securities, a subsidiary of Prudential Insurance, from 08/18/2016 until 10/11/2023. According to a recent Financial Advisor article, Alam was terminated from Pruco in October for having been named a beneficiary in the elderly client’s will, violating company policy.

FINRA’s BrokerCheck states that ROSALINE ALAM was registered in the securities industry for 13 years and was listed with 4 firms. She was most recently listed with Lincoln Investment of Claremont, California, from 10/09/2023 until 04/10/2024.

If you or an elderly family member have experienced financial losses due to the actions or recommendations of ROSALINE ALAM, a broker formerly listed with Pruco Securities of Claremont, California, most recently listed with, Lincoln Investment of Claremont, California, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.

Soreide Law Group will represent you nationwide before FINRA.  We work on a contingency fee basis, no fee to you if no recovery.