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Financial Advisor Lee Diedrich Suspended by FINRA

Lee Diedrich (CRD#: 2636095) was dually registered as a Broker and Investment Advisor.

Broker’s Background

He entered the securities industry in 1995 and previously worked for Pruco Securities, LLC.

Current And Past Allegations Of Conduct Leading To Investment Loss

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in November 2022, FINRA sanctioned Lee Diedrich with a civil and administrative penalty of $5,000 and a suspension from all capacities for three months, beginning November 21, 2022 and ending February 20, 2023. The FINRA sanction states, “Without admitting or denying the findings, Diedrich consented to the sanctions and to the entry of findings that he forged customer signatures. The findings stated that Diedrich electronically signed customer names on account opening documents and variable annuity applications. Diedrich also listed his own email address as the customer email address on some of the account opening documents. Diedrich did not have prior permission or authority from any of the customers to electronically sign their names to the documents. The findings also stated that Diedrich submitted the documents to his member firm to be processed. By submitting documents with forged customer signatures and false customer email addresses, Diedrich caused the firm to create and maintain inaccurate books and records.”

For a copy of the FINRA sanction, click here.

In addition, Lee Diedrich was terminated by Pruco Securities after ”Registered representative admitted to submitting multiple non-genuine client signatures on multiple applications and, also in violation of Company policy, to logging into a client’s account using her credentials.”

For a copy of Lee Diedrich’s FINRA BrokerCheck, click here.

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Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

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Attorney Matthew Wolper

Attorney Matthew WolperMatt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. Mr. Wolper has handled hundreds of securities matters nationwide before the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (“AAA”), JAMS, and in state and federal court. Mr. Wolper has handled and tried cases involving complex financial products and strategies ranging from traditional stocks and bonds to options, margin and other securities-based lending products, closed/open-end mutual funds, structured products, hedge funds, and penny stocks. [Attorney Bio]