The Financial Industry Regulatory Authority barred a former rep at Prudential’s Pruco Securities from associating with any FINRA member in all capacities after he failed to appear and provide testimony as requested as part of an investigation, according to FINRA.
FINRA was probing whether Neil James Buono “forged customer signatures on variable annuity applications and submitted them to the firm for processing without his customers’ knowledge or consent,” according to FINRA.
(Related: FINRA Advances Rules on Senior Exploitation, E-Signatures)
By failing to appear and provide testimony as requested, he violated FINRA Rules 2010 (governing standards of commercial honor and principles of trade) and 8210 (provision of information and testimony), it claimed.
Without admitting or denying the findings, Buono signed a FINRA letter of acceptance, waiver and consent on Sept. 9. FINRA accepted the letter Monday.
Prudential did not immediately respond to a request for comment.