Stephen Alan Hackett, a former registered representative with PFS Investments Inc. in Plant City, Florida, barred from FINRA.

Monday, March 29th, 2010

FINRA recently announced that Stephen Alan Hackett, a former registered representative with PFS Investments Inc., has been barred from association with any FINRA member firm in any capacity. The sanction was based on findings that Hackett borrowed $9,000 from a customer in contravention of PFS Investments Inc.’s written procedures forbidding registered representatives from borrowing funds from customers, except in certain limited circumstances, which did not apply to the loan from this customer. The findings further stated that Hackett failed to repay the loan and the customer was forced to file a civil action in the county court to enforce the terms of the loan agreement. Finally, the findings also stated that Hackett failed to respond to FINRA requests for information, documents and to appear for on-the-record testimony.

PFS Investments Inc. (Hackett’s employer from 2002 until the time he was barred from the industry) is a FINRA registered broker-dealer based in Duluth, Georgia. PFS Investments’ FINRA Broker Report (CRD) indicates that it has been the subject of 14 regulatory inquiries and at least two customer arbitrations.

If you have questions about investments you made with Stephen Alan Hackett, or if you believe that you have been the victim of a securities fraud, the Law Offices of David A. Carter, P.A. may be able to help. David A. Carter is a securities lawyer based in Boca Raton, Florida. He reviews securities fraud cases throughout the country and Florida, including reviewing securities fraud cases in Plant City, Tampa, Bradenton, St. Petersburg, Port Charlotte, Clearwater, and Orlando. For more information on the firm’s securities fraud practice, please visit http://www.carterpa.com. To contact the Law Offices of David A. Carter, P.A., please call 561-750-6999 or email us at contact@carterpa.com.

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