Ian Prukner Allegedly Engaged in Unauthorized Outside Business
Ian Prukner (CRD #: 5288581) was suspended by FINRA following allegations that he engaged in an unauthorized outside business. Ian Prukner was previously registered with PFS Investments. This is according to his BrokerCheck record, accessed on February 14, 2024. Keep reading if you have questions regarding his alleged conduct.
Two-Year FINRA Suspension
On November 28, 2023, FINRA suspended Ian Prukner following allegations that he engaged in an outside business as owner and co-CEO of a company that engaged in e-commerce without providing written notice to his firm. The findings state that certain PFS representatives and customers paid up-front fees of $40,000 per e-commerce storefront.
Ian Prukner allegedly verbally disclosed the e-commerce storefront and left out the digital real estate component of his outside business.
When PFS found out that the outside business had been marketed to other firm representatives, the firm had concerns that this would create a conflict of interest. PFS allegedly warned Ian Prukner to stop this conduct and requested further information about the company, including names of any firm customers or registered representatives who had purchased e-commerce storefronts. Ian Prukner allegedly failed to provide the requested information.
PFS Investments allegedly ordered Ian Prukner to stop engaging in marketing activities for the e-commerce storefront. He declined to do so and the firm told him to choose between his work with PFS and his outside business. He allegedly chose to continue with his outside business and left the firm after winding down his work with PFS.
Terms of the AWC
As part of the terms of the Acceptance, Waiver, and Consent agreement with FINRA, Ian Prukner consented to a $10,000 fine and a 24-month suspension.
FINRA Rule Regarding Outside Business
FINRA Rule 3270 requires brokers to disclose to their firm any business activities they engage in outside it, including any compensation they expect to receive.
Background Information
Ian Prukner has passed the following exams:
- Series 65 Uniform Investment Adviser Law Examination
- Series 63 Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 6 Investment Company Products / Variable Contracts Representative Examination
- Series 26 Investment Company Products/ Variable Contracts Principal Examination
Kurta Law Can Help
If you have worked with Ian Prukner and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.
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