Robert Leo Luley (also known as Rob Leo Luley Junior) of Clover, South Carolina, a stockbroker formerly registered with Madison Avenue Securities LLC, is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $250,000.00 in damages based upon allegations that Luley made unsuitable recommendations in connection with the sale of alternative investments including direct investments when Luley was associated with Madison Avenue Securities LLC. Financial Industry Regulatory Authority (FINRA) Arbitration No. 22-00671 (June 1, 2022).
FINRA Public Disclosure shows that Luley is referenced in seven more customer initiated investment related disputes concerning Luley’s activities while associated with securities broker dealers, including Madison Avenue Securities LLC. On November 25, 2020, a customer initiated investment related FINRA securities arbitration claim involving Luley’s conduct was settled for $132,535.55 in damages based upon accusations that Luley made unsuitable recommendations, overconcentrated the customer’s account, made misrepresentations and omissions, and violated FINRA rules in connection with the recommendation and sale of alternative investments when Luley was associated with Madison Avenue Securities LLC. FINRA Arbitration No. 20-01738.
Another customer initiated investment related FINRA securities arbitration claim involving Luley’s activities was settled for $101,732.98 in damages based upon allegations that Luley made unsuitable transactions in connection with the sale of GPB Automotive investments during the time that Luley was associated with Madison Avenue Securities LLC. FINRA Arbitration No. 20-03448 (November 25, 2020).
Luley is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $170,000.00 in damages based upon accusations that Luley made misrepresentations, omissions, and unsuitable recommendations in connection with the sale of BDCA and GPB investments when Luley was associated with Madison Avenue Securities LLC. FINRA Arbitration No. 20-01231 (June 17, 2021).
On April 12, 2022, a different customer initiated investment related FINRA securities arbitration claim involving Luley’s conduct was settled for $35,000.00 in damages based upon allegations that Luley made unsuitable recommendations in connection with the sale of non-traded real estate investment trusts and direct investments when Luley was associated with Madison Avenue Securities LLC. FINRA Arbitration No. 21-02508.
Luley’s registration with Madison Avenue Securities LLC was terminated on November 16, 2018. Luley was registered with Pruco Securities LLC between May 15, 2020, and March 8, 2022. Pruco Securities LLC discharged Luley based upon accusations that Luley failed to report customer complaints.
