{"id":9508,"date":"2020-11-24T11:49:39","date_gmt":"2020-11-24T16:49:39","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=9508"},"modified":"2020-11-24T11:49:39","modified_gmt":"2020-11-24T16:49:39","slug":"finra-suspends-broker-hector-luna-after-making-his-family-beneficiaries-for-elderly-client","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/finra-suspends-broker-hector-luna-after-making-his-family-beneficiaries-for-elderly-client\/","title":{"rendered":"FINRA Suspends Broker Hector Luna After Making His Family Beneficiaries For Elderly Client"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-9509 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/11\/HectorLuna.jpg\" alt=\"Hector Luna (Hector Luis Luna) is a previously registered broker whose last employer was Pruco Securities, LLC. (CRD#:5685). He has been in the industry since 2012. During Luna\u2019s tenure, specifically from September 2018 through his termination in January of 2019, Pruco Securities had a policy that prohibited representatives or any of the representative\u2019s family members from becoming beneficiaries of a customer's life insurance policy. Luna also stated annually that he understood this policy, and would report to his manager any known violation that he became aware of. Despite this annual declaration, Luna assisted a senior customer of the firm to change the beneficiaries of two life insurance policies to Luna\u2019s wife and adult children. The total combined value of these policies was $350,000. At first, the customer suggested making Luna the beneficiary, but Luna declined based on the firm\u2019s policies, then suggested his wife and children. Once the beneficiaries were changed, Luna submitted the forms but did not notify the firm of his family members involvement.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/11\/HectorLuna.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/11\/HectorLuna-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Hector Luna (Hector Luis Luna) is a previously registered broker whose last employer was Pruco Securities, LLC. (CRD#:5685). He has been in the industry since 2012.<\/p>\n<p>During Luna\u2019s tenure, specifically from September 2018 through his termination in January of 2019, Pruco Securities had a policy that prohibited representatives or any of the representative\u2019s family members from becoming beneficiaries of a customer&#8217;s life insurance policy. Luna also stated annually that he understood this policy, and would report to his manager any known violation that he became aware of. <a href=\"https:\/\/www.silverlaw.com\/blog\/finra-suspends-broker-hector-luna-after-making-his-family-beneficiaries-for-elderly-client\/#more-9508\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hector Luna (Hector Luis Luna) is a previously registered broker whose last employer was Pruco Securities, LLC. (CRD#:5685). He has been in the industry since 2012. During Luna\u2019s tenure, specifically from September 2018 through his termination in January of 2019, Pruco Securities had a policy that prohibited representatives or any of the representative\u2019s family members [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[580],"tags":[],"class_list":["post-9508","post","type-post","status-publish","format-standard","hentry","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Broker Hector Luna Suspended For Making Family Beneficiaries For Client<\/title>\n<meta name=\"description\" content=\"FINRA suspended broker Hector Luna, whose last employer was Pruco Securities, LLC., for making his family beneficiaries of an elderly client.\" \/>\n<meta name=\"robots\" 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