May 15, 2019 Comments (0) Blog, Current Investigations

Derrick Trussell | Broker Investigation

Derrick Trussell - Broker Investigation, Featured by Top Securities Fraud Attorneys, The White Law Group

Derrick Trussell – PFS Investments – “Selling Away”

Are you concerned about investments you made with financial advisor Derrick Trussell? The White Law Group is investigating potential claims involving Trussell and the liability his employer may have for failing to properly supervise him.

According to the Financial Industry Regulatory Authority (FINRA), the regulator has barred Derrick Trussell from the securities industry.

Trussell is reportedly barred from association with any FINRA member in any capacity because he allegedly failed to request termination of his suspension within three months of the date of the Notice of Suspension; therefore, he is automatically barred.

The suspension was in connection to Trussell’s alleged outside business activities, according to FINRA.

According to his FINRA BrokerCheck report, Trussell was registered with PFS Investments Inc. in San Antonio, Texas from September 2006 thru May 2017 when he was dismissed for reportedly engaging “in an unapproved outside business activity and/or an undisclosed private securities transaction in which a client’s funds were used to purchase securities not offered by PFSI without the client’s knowledge or consent.”  He purportedly has 4 customer complaints filed against him for allegations of misrepresentation.

  “Selling Away”

The White Law Group is investigating the liability that Trussell’s former employer, PFS Investments, may have for his alleged outside business activities.

When a FINRA registered representative conducts business outside the scope of the brokerage firm where they are registered, the act can be considered “selling away.”

Some brokers, looking to supplement their income, will go outside the traditional market, trying to find other products to push.

If a registered broker “sells away” from their firm, the brokerage firm may still be liable for negligent supervision of their broker representative and may be responsible for investment losses in a FINRA dispute resolution claim.

If you have invested with Derrick Trussell and are concerned about your investments, the securities attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call our offices at 888-637-5510.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois.

For more information on The White Law Group, please visit our website at https://www.whitesecuritieslaw.com.

Click here for your FREE consultation.

 

 

 

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