Investor Alleges Willie Rosser Omitted Information Involving Fees and Charges
Willie Rosser (CRD #: 6139449), a broker formerly registered with Pruco Securities, was involved in a recent investor dispute, according to his BrokerCheck record, accessed on July 13, 2022. Keep reading if you have questions about Willie Rosser’s conduct as a broker.
On May 9, 2022, an investor alleged that Willie Rosser failed to disclose charges, expenses, and fees. The client also alleges he violated the FINRA suitability rule and the free look provision of an unspecified policy. The investor further alleges he failed to consider their investment objectives. This dispute was denied by the firm.
However, investors should know that firms can deny disputes without an external review. Investors may be able to recoup their losses following a denial by seeking out FINRA arbitration.
FINRA Rules 2020 and 2111
The omission of information related to investments violates FINRA Rule 2020, which bans the use of deceptive, manipulative, and otherwise unethical tactics to influence the purchase or sale of securities.
FINRA Rule 2111 requires brokers to tailor their recommendations of investments and investment strategies to investors’ profiles. These profiles contain information about an investor, such as their tax status, risk tolerance, and age.
Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.
Termination from Pruco Securities
On March 25, 2022, Willie Rosser was fired from Pruco Securities after allegedly admitting to soliciting and accepting investment funds from a firm client as part of an unauthorized outside business activity, as well as misrepresenting his involvement with that activity.
Other Outside Business Activities
Willie Rosser’s detailed BrokerCheck report lists the following outside business activities:
- Owner and CEO of Flawless Facilities, LLC, a commercial cleaning company, where he is a silent partner.
- Adjunct professor at Morehouse College, teaching a Series 7/SIE preparatory course.
- Deacon and trustee at Mt. Olive Church of God Holiness, where he assists with the operation and leadership of the church.
- Board member of Zest Preparatory Academy, an elementary school, where he provides strategic guidance.
- Author of a book of poetry, Soul in a Glass.
- Owner of Street Tees, a clothing retailer, where he also has creative control.
FINRA Rule 3270
FINRA Rule 3270 requires brokers to disclose to their firm any business activities they partake in outside of their firm. This disclosure must explain the broker’s role and any compensation they may receive, and brokers must receive approval from their firm before they can participate in the activity.
Willie Rosser filed for bankruptcy on January 7, 2020.
Willie Rosser has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
He previously worked for Pruco Securities (CRD#:5685) and Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691).
Kurta Law Can Help
If you worked with Willie Rosser and you have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org 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.