Picture of a man with his fingers crossedKari Ann Buckles of Olean New York a stockbroker formerly registered with Allstate Financial Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that (1) Buckles converted a customer’s funds and (2) Buckles failed to cooperate with a FINRA investigation into allegations of her misconduct. Letter of Acceptance Waiver and Consent No. 2018058777101 (Aug. 27, 2019).

According to the AWC, in December of 2015, during the time Buckles ran an Allstate agency, she made arrangements with customer JN to allocate funds to JN’s Savings Incentive March Plan for Employees. The AWC stated that JN’s funds were allocated in the SIMPLE IRA through January 2016, at which point Buckles, without JN’s knowledge, stopped allocating the funds in the SIMPLE IRA account. Instead, Buckles intentionally utilized JN’s funds to pay for Buckles’ expenses. FINRA found Buckles’ conduct violative of FINRA Rule 2010.

The AWC stated that Buckles also failed to cooperate with FINRA when she was being investigated for the alleged conversion. On July 29, 2019, Buckles was instructed under Rule 8210 to provide FINRA with recorded testimony. Buckles corresponded with FINRA personnel that day to convey that she would not be providing any recorded testimony in reference to the accusations of her misconduct. FINRA concluded that Buckles’ failure to cooperate was violative of FINRA Rules 2010 and 8210.

FINRA Public Disclosure additionally confirms that Buckles is the subject of a customer initiated investment related written complaint on May 16, 2018 where the customer sought unspecified damages based upon allegations of Buckles’ misuse of the customer’s funds.

Buckles was discharged by Allstate Financial Services LLC on September 11, 2018 supported by accusations of her long-term misuse of SIMPLE IRA contributions.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

Questions or comments regarding the source or accuracy of any information, including any subsequent developments, should be directed to:  [email protected]

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer.

Guiliano Law Group, P.C.

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from all over the United States and several foreign countries. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at stockbrokerfraud.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com

Stockbroker Fraud. Securities Arbitration and Investment Fraud Lawyers.  
National Practice. Contingent Fee. Confidential Free Consultation.

 (877) SEC-ATTY

Tags: ,

No comments yet.

Leave a Reply

Name (required)

Email (will not be published) (required)

Website