Roger Turcotte Subject of a Regulatory Fine
Roger Turcotte (CRD #: 1180997), a broker registered with Cetera Investment Services, has been suspended by FINRA. This is according to his BrokerCheck record, accessed on October 22, 2024. Keep reading if you have questions regarding his alleged conduct.
Regulatory Action
On September 3, 2024, Roger Turcotte entered into an Acceptance, Waiver, and Consent agreement (AWC) in which he consented to the allegations that he caused his member firm to make and preserve inaccurate books and records by mismarking unsolicited order tickets.
The findings alleged that four of the transactions Roger Turcotte mismarked as unsolicited involved solicited purchases of low-priced, over-the-counter (OTC) securities. He allegedly received $3,696.97 in commission for these four transactions. Had he marked the securities accurately, they allegedly would have been canceled.
Unsolicited trades do not receive the same supervisory scrutiny as solicited trades. Firms need to review solicited trades to ensure they fit a customer’s risk tolerance. OTC securities are often too risky for investors. Unscrupulous brokers may mismark trades as unsolicited in order to avoid meeting regulatory requirements.
As part of the terms of the AWC, Roger Turcotte consented to a $10,000 fine and a two-month suspension. You can read a copy of the AWC here.
Background Information
Roger Turcotte has passed the following exams:
- Series 66 Uniform Combined State Law Examination
- Series 63 Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
- Series 6 Investment Company Products/ Variable Contracts Representative Examination
- Series 26 Investment Company Products / Variable Contracts Principal Examination
He is a registered broker in 18 states and is a registered investment adviser in Florida and Texas.
Roger Turcotte has registered as a broker with Cetera Investment Advisers (CRD #: 105644) and Foresters Financial Services (CRD #: 305).
Kurta Law Can Help
If you worked with = and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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.