Scott Buck Allegedly Executed an Unauthorized Transaction in a Deceased Investor’s Account
Scott Buck (CRD #: 1374445), a previously registered broker with LPL Financial, has been suspended by FINRA. This is according to his BrokerCheck record, accessed on August 26, 2024. Keep reading if you have questions regarding his alleged conduct.
Regulatory Action
On July 22, 2024, Scott Buck consented to the findings that he effected three unauthorized transactions in a customer’s account to fund the customer’s required minimum distributions, including one transaction after the customer died. He allegedly learned of the customer’s death after placing the third trade and falsely indicated to his firm that he had attempted to reach the customer on the day of that trade.
Scott Buck also allegedly used an unapproved cell phone to communicate with a customer regarding firm-related business, including securities recommendations and orders. His firm was therefore not able to preserve those communications.
As part of the terms of the Acceptance, Waiver, and Consent agreement (AWC), Scott Buck consented to a $7,500 fine and a two-month suspension.
FINRA Rule 4511
FINRA Rule 4511 requires firms to keep accurate and up-to-date books and records.
High Standards of Commercial Honor
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Unauthorized trading violates this rule.
Background Information
Scott Buck 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
During his 39 years of experience, he has registered with five firms:
- LPL Financial (CRD #: 6413)
- UBS Financial Services (CRD #: 8174)
- McDonald Investments (CRD #: 566)
- The Ohio Company (CRD #: 628)
- Butler, Wick & Co. Inc. (CRD #: 120)
Kurta Law Can Help
If you worked with Scott Buck and you 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.
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