Roger Duval Subject to Three Washington State Regulatory Actions

Roger Duval (CRD #: 2503718), a broker formerly registered with Pruco Securities, is involved in three pending state regulatory actions, according to his BrokerCheck record, accessed on November 13, 2024. Read on if you have questions about his alleged conduct as a broker.

Washington State Regulatory Actions

On November 5, 2024, Roger Duval was the subject of a regulatory action filed by the State of Washington. This action is currently pending.

On October 8, 2024, the Securities Division of the State of Washington entered a Statement of Charges against Roger Duval. The Statement of Charges alleges that Roger Duval violated the anti-fraud provisions of the Securities Act of Washington with regard to funds that he received from a senior client. This action is currently pending.

On May 24, 2019, the Securities Division entered a Summary Order to Suspend Registrations against Roger Duval, alleging that he misappropriated $246,400 in total from three client brokerage accounts. The Securities Division alleged that two of these clients were elderly and the last was deceased.

Roger Duval’s registration as an investment adviser representative and broker was suspended by the state.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 2150

FINRA Rule 2150 prohibits the improper use of investors’ funds.

What are Blue Sky Laws?

Blue sky laws are state securities regulations that provide investors with an extra layer of protection against fraud. They frequently also define what investments qualify as securities in the state.

Bar by FINRA

On September 18, 2020, Roger Duval consented to the entry of findings that he allegedly converted approximately $130,000 from three elderly investors.

According to a Letter of Acceptance, Waiver & Consent (AWC), Roger Duval allegedly convinced these three clients to open brokerage accounts at a firm away from his employing firms starting in 2013.

The AWC alleges that, from June 2017 through April 2019, Roger Duval used these clients’ login credentials to access their accounts without authorization and write himself checks totaling approximately $130,000. He allegedly deposited these checks into his personal checking account and transferred some of this money to his personal brokerage account.

The AWC concluded that this alleged misconduct violated FINRA Rules 2150(a) and 2010.

Sanctions

Roger Duval was permanently barred by FINRA, starting on September 18, 2020. You can read the full AWC here.

Investor Dispute

On March 2, 2020, an investor alleged that Roger Duval misappropriated funds and failed to fully disclose facts related to investment objectives. This dispute was denied by the firm.

However, investors should be aware that firms can deny disputes without an external review. Investors can still recover damages following a denial by pursuing FINRA arbitration.

Background Information

Roger Duval 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 7 – General Securities Representative Examination
• Series 8 – General Securities Sales Supervisor Examination (Options Module & General Module)

He previously worked for the following firms:

• Pruco Securities (CRD#:5685)
• MML Investors Services (CRD#:10409)
• MSI Financial Services (CRD#:14251)
• AllState Financial Services (CRD#:18272)
• Edward Jones (CRD#:250)
• Salomon Smith Barney (CRD#:7059)
• A. G. Edwards & Sons (CRD#:4)
• D.A. Davidson & Company (CRD#:199)

Kurta Law Can Help

If you worked with Roger Duval 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 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.