Zena Yofonovich, of Rosemont, Illinois, a stockbroker formerly registered with Pruco Securities, LLC, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she entered into an unauthorized agreement to borrow funds from a customer. Letter of Acceptance, Waiver and Consent, No. 1358792 (May 31, 2017).
According to the AWC, Yofonovich entered into a borrowing arrangement with a senior customer, wherein she received $63,500.00 in funds via a withdrawal from the customer’s variable annuity. Apparently, the loan with the customer was never made known to Pruco Securities, nor was it approved of by the firm beforehand. Critically, the AWC reported that Yofonovich never provided the customer with any repayment of the monies. Consequently, FINRA found that her conduct was violative of FINRA Rule 2010, as well as NASD Rules 2110 and 2370.
FINRA Public Disclosure reveals that on August 24, 2016, a customer filed an investment related written complaint involving Yofonovich’s conduct, in which the customer requested $63,500.00 in damages based upon allegations that Yofonovich defaulted on a promissory note repayment obligation to the customer after having received and accepted the funds.
Yofonovich’s registration with Pruco Securities, LLC, was terminated on November 7, 2016, based upon allegations that she committed a violation of her firm’s policies via borrowing from a customer without first obtaining authorization.
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