Category Archives: PFS Investments

Daniel W. Staudacher-PFS Investments Broker-Discloses Regulatory Sanction

January 2017- Dallas, Texas

According to publicly available records Daniel W. Staudacher , (CRD# 2878221) ,  a  stockbroker who is currently employed by PFS Investments disclose a recent FINRA regulatory action resulting in a one month suspension and a fine of $5,000.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Without admitting or denying the FINRA findings, Staudacher consented to sanctions and to the entry of findings that he executed unauthorized transactions in two different customer accounts.

Staudacher has been employed by PFS Investments since 5/1997.

If you have questions about an account in an account handled by Daniel W. Staudacher , contact us to discuss your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Malcolm J. Babin-Former PFS Investments Broker – Barred by Securities Regulators

July 30, 2015-Baton Rouge, LA

According to FINRA records, Malcolm Jamil Babin  entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he  failed to provide documents and information to FINRA in connection with an investigation into allegations that he converted non-Firm customer funds and engaged in undisclosed outside business activities. AWC NO. 20150454876-01

Babin  was  barred from the industry.

According to FINRA records, Babin joined PFS Investments in September 2007 and was voluntarily discharged in December 2008. He rejoined PFS Investments in September 2009.  He was discharged from PFS Investments in May 2015.

PFS Investments, a subsidiary of Primerica Finance Corp.  has been registered since 1981 and is headquartered in Duluth, GA.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Yuvraj Taneja=Former PFS Investments Broker-Barred from Industry for Selling Phony Insurance Policies

August19, 2015-Herndon, VA

According to FINRA records, Yuvraj Taneja , entered into a Letter of Acceptance, Waiver and Consent (AWC)  with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that she electronically submitted at least 53 fictitious applications for term life insurance policies on behalf of purported customers that did not exist and created fake names for the applicants. Taneja submitted and paid for these fictitious applications in order to wind a contest sponsored by the insurance company, according to the AWC. AWC  No. 2014043322301

Taneja was permanently barred from the securities industry. According to FINRA records, Taneja  was registered with PFS Investments in Herndon, VA.,  from 6/2014-11/2014.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Malcolm Babin-Former PFS Investments Broker from Baton Rouge Sanctioned by Securities Regulator

July 30, 2015

Malcolm Jamal Babin  of Baton Rouge, LA , entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he  failed to provide documents and information to FINRA in connection with an investigation into allegations that Babin converted non-Firm customer funds and engaged in undisclosed outside business activities.

AWC NO. 20150454876-01

Babin  was barred from the securities industry.   According to FINRA records he was registered with PFS Investments , Inc from 9/2015-5/2015.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

David Blasik-Former PFS Investments Broker -Sanctioned by Regulator

January 28, 2015- Vandalia, Ohio

According to FINRA records, David J. Blasik  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he failed to provide documents and information requested by FINRA in connection with an investigation into allegations that Blasik engaged in an unapproved and undisclosed outside business activity.

By failing to respond to FINRA’s request, Blasik violated FINRA Rules 8210 and 2010. Blasik was barred from associating with any FINRA member firm in any capacity. According to FINRA records he was registered with PFS Investments from 4/2006-12/2014. FINRA Case # 20140437906

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Jack R. Kelly, Former PFS Investments Broker, Barred by FINRA

In March 2014 the Financial Industry Regulatory Authority barred Millington, Tennessee, broker Jack Richard Kelly from the industry upon findings that he converted $85,000 from customers.

Findings state that a customer gave Kelly checks for a total of $40,000 to be invested in a fund that Kelly had represented would earn 7% interest. The $40,000 came from a trust account held at Kelly’s member firm that was intended to provide for the customer’s disabled sister. Instead of investing the funds, Kelly converted them to his own use.
Findings also state that an elderly customer gave Kelly $45,000 to be invested in a fund that Kelly had represented would provide 7% interest, but which were converted to Kelly’s own use.
According to FINRA records,  Kelly has a number of disclosure events and was registered with PFS Investments, Inc., which is headquartered in Waterloo, Iowa, from 12/1989-07/2013. He is not currently registered.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

PFS Investments Broker Huel Cox Barred by FINRA for Theft

The Financial Industry Regulatory Authority (FINRA) is the largest independent regulator for all securities firms doing business in the United States. FINRA’s chief role is to protect investors by maintaining the fairness of the U.S. capital markets.

All stockbrokers and broker dealers (brokerage firms) are required to be licensed by and subject to the rules and regulations of FINRA. Each month FINRA publishes disciplinary actions against brokers and broker dealers. Discipline can range from monetary fines and suspensions, or in extreme cases, revocation of licensing and a bar from the securities industry.

See the FINRA website for current and historical disciplinary actions.

July 2013
Huel Cox Jr. (CRD #1638341, Registered Principal, Phoenix, Arizona) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in anycapacity. Without admitting or denying the findings, Cox consented to the described sanction and to the entry of findings that he solicited a friend, who was also a customer of his member firm, to make various investments in real estate and a casino. The customer agreed to make the investments and, over a period of years, wrote personal checks payable to Cox for the purported investments. The findings stated that Cox did not make any of the promised real estate investments for the customer but, instead, misappropriated at least $206,398.89 of the customer’s funds for his own personal use without the customer’s authorization.

(FINRA Case #2011029621801)

PFS Investments is a subsidiary of Primerica Finance Corporation.

If you have questions about investment
losses or the way your brokerage account has been handled, please
contact us to discuss your legal rights.

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900