Leonard Feigenbaum Fined by States of Washington and New York

Leonard Feigenbaum (CRD #: 205579), a broker registered with Pruco Securities, was recently fined by two states, according to his BrokerCheck record, accessed on October 23, 2022. Keep reading if you want to know more about his conduct as a broker.

Fine by State of Washington

On July 29, 2022, the State of Washington Office of the Insurance Commissioner alleged that Leonard Feigenbaum failed to notify them within 30 days about administrative action imposed by the State of New York. Leonard Feigenbaum was fined $250.

Action by State of New York

On April 5, 2022, Leonard Feigenbaum entered into a settlement with the New York State Department of Financial Services in which he allegedly acknowledged mistakenly providing materially untrue and incorrect information on the renewal of his insurance. He was fined $750.

Investor Dispute

On October 20, 2020, an investor alleged that, in 2010, Leonard Feigenbaum made an unsuitable life replacement recommendation as well as misrepresented and omitted the terms of a universal life insurance policy. This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to determine whether an investment fits their client’s financial goals by examining the characteristics described in an investor’s profile. Investors’ profiles contain the following information:

• Age
• Financial goals
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration and potentially recover their losses.

FINRA Rule 2020

FINRA Rule 2020 bans the use of manipulative, deceptive, or otherwise fraudulent tactics to influence investors’ decisions. Misrepresenting or omitting information about an investment’s risks, requirements, or other features violates this rule.

Background Information

Leonard Feigenbaum has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 1 – Registered Representative Examination

Leonard Feigenbaum is a registered broker in seven states.

He has also worked for the following firms:

• Equitable Advisors (CRD#:6627)
• MML Investors Services (CRD#:10409)
• Park Avenue Securities (CRD#:46173)
• NYLIFE Securities (CRD#:5167)
• Lincoln Financial Advisors (CRD#:3978)
• The Lincoln National Life Insurance Company (CRD#:2580)
• Equity Services (CRD#:265)
• MetLife Securities (CRD#:14251)
• Metropolitan Life Insurance Company (CRD#:4095)
• Cadaret, Grant & Company (CRD#:10641)
• Carillon Investments (CRD#:14646)
• Mony Securities Corporation (CRD#:4386)
• Equico Securities (CRD#:6627)
• The Equitable Life Assurance Society of the United States (CRD#:4039)
• Pruco Securities (CRD#:5685)
• Penn Mutual Equity Services (CRD#:4031)
• Personal Economics Securities Corporation (CRD#:6862)
• Security Investment Services Corporation (CRD#:760)
• Integrated Resources Equity Corporation (CRD#:6403)

Kurta Law Can Help

If you worked with Leonard Feigenbaum and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and 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.