Former Voya Financial broker, Rodger James Burskey (Burskey), recently settled allegations with the Financial Industry Regulatory Authority (FINRA) following an enforcement action. The underlying basis of the investigation involved allegations Burskey recommended unsuitable investments or engaged in discretionary trading. As a consequence of Burskey’s failure to cooperate with FINRA’s investigation, FINRA permanently barred him from the financial industry.
Burskey (FINRA CRD No. 1193951) entered the financial industry in 1983 as general securities representative. Over the course of his career, Burskey worked for various firms, including but not limited to: Mutual Service Corporation; Metlife Securities, Inc. and Voya Financial Advisors, Inc. (“Voya Financial”). Burskey is no longer associated with any FINRA-member.
FINRA’s Department of Enforcement initiated an investigation into Burskey’s alleged misconduct. FINRA specifically investigated whether Burskey recommended unsuitable investments or engaged in discretionary trading. In connection with this investigation, FINRA sent Burskey a request to provide on-the-record testimony pursuant to FINRA Rule 8210. According to FINRA, Burskey failed to cooperate with the investigation.
Based upon the foregoing alleged misconduct, FINRA asserted Burskey violated FINRA Rules 2010 and 8210. Specifically, FINRA Rule 8210 authorizes FINRA, in the course of its investigations, to require persons associated with a FINRA member to “provide information orally, in writing, or electronically . . . with respect to any matter involved in the investigation...” Here, Burskey failed to provide information in response to FINRA’s request, thereby violating FINRA Rule 8210.
Lufrano Law, LLC is a national securities litigation firm and has experience representing investors who have investment disputes with brokers and broker-dealers. If you suffered investment damages with Burskey while employed by Voya Financial, you may be able to recover your losses through FINRA arbitration. Our firm only receives a fee if you recover money. Please contact one of our attorneys at (800) 627-2179 to schedule a free consultation or complete our free case evaluator.