Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) indicate that broker, Frederick Joseph Rock (CRD # 2548242) was recently suspended from the securities industry by FINRA’s Department of Enforcement after an investigation into his participation in unapproved sales of private placement securities.
The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Mr. Rock.
Registration Background for Frederick Rock
Mr. Rock first became registered in the securities industry in 1995. He was most recently registered with Tampa, FL based Pruco Securities, Inc. (CRD # 5685) from July 2014 to August 2019. His prior registrations include Fifth Third Securities, Inc. (CRD # 628) from May 2006 to November 2013, and Uvest Financial Services Group, Inc. (CRD # 13787) from June 2003 to May 2006.
FINRA’s Allegations Against Frederick Rock
According to FINRA Letter of Acceptance, Waiver and Consent (AWC) dated April 23, 2021, Mr. Rock consented to, without either admitting to or denying, the following findings by FINRA’s Department of Enforcement:
- “Between March and June 2019, [Mr.] Rock solicited private-placement investments in a start-up company developing waste-to-energy technology totaling $409,200 from 17 investors”;
- “[Mr.] Rock participated in these purchases by recommending the investments, helping the investors complete Stock Purchase Agreements (SPAs), and collecting their SPAs and investment checks to provide to the company”;
- “[Mr.] Rock did not provide Pruco with advance written notice of these activities, which were outside the regular course of his employment with the firm”; and
- By virtue of his actions, Mr. Rock violated FINRA Rule 3280, regarding private securities transactions and FINRA Rule 2010, regarding standards of commercial honor and principles of trade.
FINRA Suspends Frederick Rock from Securities Industry
As a result of such violations and in addition to the above described findings and conclusions, FINRA’s April 23, 2021 AWC also indicates that Mr. Rock consented to the following sanction(s):
- A five-month association with any FINRA member in all capacities; and
- A fine in the amount of $5,000.00
Frederick Rock Has A History of Securities Industry Customer Complaints
In addition to Frederick Rock being suspended by FINRA from the securities industry regarding unapproved sales of private placement securities, FINRA BrokerCheck for Mr. Rock reveals that he has a history of customer complaints and/or customer initiated arbitrations, including but not necessarily limited to the following:
- On November 8, 2011, a customer-initiated arbitration was filed naming Mr. Rock as a respondent, regarding alleged actions that occurred while he was associated with Fifth Third Securities, Inc. The customer alleged negligence, common law fraud, breach of fiduciary duty, violation of FINRA/NASD conduct rules and breach of contract. The customer further alleged damages in the amount of $600,000.00. On February 19, 2014, the arbitration was settled in the amount of $115,00.00.
If you or someone you know has or had a brokerage account with Frederick Joseph Rock and have concerns regarding losses in your investments or possible sales practice violations including fraud, you may be entitled to recover lost funds. The Law Office of Kevin J. Deloatch, Esq. has an extensive securities law practice and over 30 years of experience on Wall Street. Call today at (646) 792-2156 for a free consultation. The time to file your claim may be limited so you should call today to avoid delay.