Roger Allan Duval of Spokane, Washington, a stockbroker registered with MML Investors Services LLC, was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $30,000.00 in damages based upon allegations that Duval failed to repay customer funds that Duval “borrowed” when he was associated with MML Investors Services LLC. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-03129 (September 15, 2021).
FINRA Public Disclosure shows that Duval has been referenced in two other customer initiated investment related disputes concerning Duval’s conduct while associated with securities broker dealers. On September 17, 2001, a NASD securities arbitration claim involving Duval’s conduct was settled for $60,000.00 in damages based upon allegations that Duval made unsuitable recommendations of options during the time that Duval was associated with A.G. Edwards Co. NASD Arbitration No. 00-04156.
On March 2, 2020, another customer filed an investment related complaint involving Duval’s conduct in which the customer requested compensation based upon allegations that Duval made omissions of material fact and misappropriated funds during the period that Duval was associated with Pruco Securities LLC.
FINRA Public Disclosure shows that Washington Securities Division suspended Duval’s securities salesman and investment adviser representative registrations based upon allegations that Duval engaged in unauthorized trading and misappropriated funds. Case No. S-19-2683-19-TO01 (May 24, 2019). Washington Securities Division alleged that $246,000.00 in unauthorized withdrawals were made from the accounts of Washington residents by Duval. The stockbroker allegedly misappropriated funds by placing investors’ money into an account under his control at a credit union.
On September 18, 2020, Duval was barred from associating with any FINRA member in any capacity because Duval converted funds. Letter of Acceptance, Waiver, and Consent No. 2019062789901.
According to the AWC, from June 2017 through April 2019, during the time that he was associated with MML and Pruco, Duval converted approximately $130,000.00 from senior customers for his own personal gain. FINRA states that Duval used the customers’ logins to access their accounts, and he wrote checks to himself for $130,000.00. This was done without the customers’ approval or knowledge. Duval deposited the checks into his personal account and later transferred a portion of the total into his personal brokerage account. Therefore, Duval violated FINRA Rules 2010 and 2150(a).
Duval was associated with MML Investors Services LLC in Spokane, Washington, as a stockbroker from March of 2017 to September of 2018, and associated with Pruco Securities LLC in Bellevue, Washington, as a stockbroker from September of 2018 to May of 2019.
