Former Financial Advisor Fernando Corcuchia Barred by FINRA

• April 19, 2024
• Pruco Securities

Fernando Corcuchia (CRD#: 5394734) was a previously registered broker.

Broker’s Background

He entered the securities industry in 2009 and previously worked with New England Securities; NYLife Securities LLC; and Pruco Securities, LLC.

Allegations of Misconduct

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in April 2024, Fernando Corcuchia became the subject of FINRA regulatory proceedings. From May 12, 2023, NYLife filed a Uniform Termination Notice for Securities Industry Registration (Form U5) disclosing that Corcuchia has been permitted to resign after a review of his business practices revealed that he had violated company policy.

On February 23, 2024, in connection with an investigation into the circumstances giving rise to the Form U5 filed by NYLife, FINRA requested, pursuant to FINRA Rule 8210, that Corcuchia appear for on-the-record testimony. By refusing to appear for on-the-record testimony as requested pursuant to FINRA Rule 8210, Corcuchia violated FINRA Rules 8210 and 2010. As a result, Respondent consented to the imposition of the following sanction: a bar from associating with any FINRA member in all capacities.

For a copy of Fernando Corcuchia’s Disciplinary Action Details, click here.

In addition, Fernando Corcuchia has been the subject of one other disclosure:

• April 2023—NYLife Securities LLC, “Fernando Corcuchia was permitted to resign after a review of his business practices found, among other things, that he submitted an electronic life insurance application for an unrelated customer without her authorization or consent, used his personal bank accounts as client accounts, and used his business email address for clients in violation of company policy.”

For a copy of Fernando Corcuchia’s FINRA BrokerCheck, click here.

We Help Investors Recover Investment Losses

FINRA regulations require that a customer’s written authorization is required before a broker-dealer can carry out transactions in the customer’s account. In addition, the broker-dealer’s member firm needs to approve the broker-dealer’s authorization. These measures are intended to protect the customer. Discretionary trading allows the broker-dealer to unilaterally decide to buy or sell securities at any price and not have to check with the client first. Exercising discretion without authorization can be costly to investors, and broker-dealers and their member firms, too.

 

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