Roger Allan Duval (CRD #2503718) Has Regulatory, Customer Dispute, and Judgment/Lien Disclosures on FINRA BrokerCheck

Roger Allan Duval (CRD #2503718) is the subject of multiple disclosure events, according to his FINRA BrokerCheck report accessed on January 24, 2026. The report reflects four regulatory events, five customer disputes, and four judgment/lien disclosures. If you invested with Roger Allan Duval and you have concerns, keep reading for more details.

BrokerCheck link: BrokerCheck
BrokerCheck report: BrokerCheck Report (PDF).

Regulatory Action(s)

Roger Duval’s FINRA BrokerCheck report reflects four regulatory event disclosures. Two examples are below:

On September 18, 2020, FINRA issued an Acceptance, Waiver & Consent (AWC) in which Roger Duval was permanently barred from association with any FINRA member in any capacity. According to the disclosure, FINRA found that he converted approximately $130,000 from elderly customers for his personal use. The disclosure states that he used customer login credentials to access brokerage accounts, wrote checks to himself without authorization, and deposited the funds into his personal checking account before transferring some funds to his personal brokerage account. The AWC is available here: AWC (PDF).

On October 8, 2024, the Washington Securities Division issued a Statement of Charges against Henry Duval (formerly known as Roger Duval). The disclosure states that the Statement of Charges alleges violations of the anti-fraud provisions of the Securities Act of Washington in connection with funds he received from a senior citizen client. According to the disclosure, the Securities Division intends to seek a cease and desist order, impose a fine, and charge costs, and the Respondent has a right to request a hearing. This matter remains pending.

BrokerCheck reflects two additional regulatory event disclosures not detailed here.

Investor Disputes / Customer Complaints

Roger Duval’s FINRA BrokerCheck report reflects five customer dispute disclosures. Two examples are below:

On November 12, 2025 A customer alleged that Roger Duval’s recommendations, advice, and activities were negligent and improper and caused losses and damages, and further alleged that he stole funds from the claimant. The disclosure lists the product type as equity listed (common and preferred stock) and options, with alleged damages of $166,000. The disclosure lists FINRA docket/case number 25-02448, filed on November 6, 2025.

On March 2, 2020 A customer alleged that Roger Duval did not fully disclose all facts regarding investment objectives and misappropriated funds. The disclosure lists the product type as “Other: Advantage/Command,” with alleged damages of $0 and no specific damage amount alleged. The complaint denied on March 24, 2020.

BrokerCheck reflects three additional customer dispute disclosures not detailed here.

Judgment / Lien

Roger Duval’s FINRA BrokerCheck report reflects four judgment/lien disclosures. Two examples are below:
Roger Duval’s FINRA BrokerCheck report reflects a tax lien filed on November 20, 2014 in the amount of $25,970.27, with the IRS listed as the lien holder. The disclosure states that the lien remains outstanding.

Roger Duval’s FINRA BrokerCheck report reflects a tax lien filed on August 23, 2013 in the amount of $16,880.00, with Spokane County listed as the lien holder (docket/case number 6241455). The disclosure states that the lien remains outstanding.

BrokerCheck reflects two additional judgment/lien disclosures not detailed here.

Rule summary #1: FINRA Rule 2150 (Improper Use of Customers’ Securities or Funds)

FINRA Rule 2150 is intended to protect customers’ securities and funds from improper use, including conversion or misuse of customer assets.

Rule summary #2: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)

FINRA Rule 2010 requires members and associated persons to observe high standards of commercial honor and just and equitable principles of trade, and it is frequently cited in cases involving dishonest or unethical conduct.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation designed to strengthen the standard of conduct that broker-dealers owe to retail investors when making recommendations about securities transactions or investment strategies. Adopted by the U.S. Securities and Exchange Commission and effective as of June 30, 2020, Reg BI aims to enhance investor protection while preserving investor access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in the best interest of the retail customer at the time a recommendation is made, and not to place their own financial or other interests ahead of the customer’s. This represents a higher standard than the historical “suitability” requirement, which only required that recommendations be suitable, not necessarily optimal or conflict-free.

Reg BI is built around four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and recommendations, including fees, scope of services, and conflicts of interest.

Care Obligation – Recommendations must be made with reasonable diligence, care, and skill, considering costs, risks, and alternatives.

Conflict of Interest Obligation – Firms must identify, disclose, and mitigate or eliminate conflicts, particularly those that create incentives to favor one product over another.

Compliance Obligation – Firms must establish policies and procedures designed to ensure compliance with Reg BI as a whole.

Importantly, Reg BI applies at the recommendation level, not as a continuous duty like the fiduciary standard applicable to registered investment advisers. Still, it significantly narrows the gap by emphasizing cost considerations, conflict management, and investor-focused decision-making.

Overall, Regulation Best Interest seeks to promote transparency, improve the quality of investment recommendations, and reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information

Based on his FINRA BrokerCheck report, Roger Duval:

Is not currently registered as a broker.

Has passed the Series 7, Series 8, Series 63, Series 65, and Securities Industry Essentials (SIE) exams.

Was previously registered with securities firms that include Pruco Securities, LLC, MML Investors Services, LLC, and MSI Financial Services, Inc.

Kurta Law Can Help

If you have worked with Roger Duval and you have concerns about your investments, Kurta Law may be able to help you evaluate your legal options. A securities attorney can help you assess potential causes of action and determine whether your losses may be recoverable through FINRA arbitration or other avenues. Contact Kurta Law at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

Helpful resources: Stockbroker Theft | What a Securities Attorney Can Do