The Financial Industry Regulatory Authority has barred a former Pruco Securities rep for allegedly refusing to turn over documents related to the rep’s firing from the securities firm for allegedly misappropriating an elderly client’s funds.
Pruco, a subdidiary of Prudential Insurance, terminated rep Rosaline Alam in October for having been named a beneficiary in the client’s will, violating company policy, according to Finra.
Finra said it barred Alam “from associating with any FINRA member in all capacities.”
Alam consented to the sanctions under an agreement in which she neither admitted to nor denied the accusations, Finra said.
Alam was registered with Finra through association with Pruco from August 2016 through October 2023. She was registered with Finra as a rep with another firm between October 2023 and April 2024.
According to BrokerCheck, Alam worked for Lincoln Investment from 2023 to 2024. In her LinkedIn profile, the rep said she worked as a financial advisor for several firms, starting in 2009 with Waddell & Reed. Alam is now listed as self-employed author in Southern California since January 2021.
The profile touts the release of Alam’s memoir: “Preyed Upon: Multiple Generations of Parental Alienation,” which describes her alienation from her children and other life struggles.
“My passion,” Alam wrote in LinkedIn, “is to motivate others to fight for what they believe in no matter what life throws their way!”
Neither Alam nor her lawyer could immediately be reached for comment.
Finra said Alam violated its rule requiring “a member, person associated with a member, or any other person subject to FINRA’s jurisdiction to provide information orally, in writing, or electronically” regarding any Finra investigation.
Finra said Alam declined a request by the regulator in April to produce information related to her firing from Pruco
“Respondent acknowledges that she received FINRA’s request and will not produce the requested documents and information at any time,” Finra said.