FINRA

Respondent Luley failed to respond to FINRA requests for information.

Letter

Bar (Permanent)

All Capacities

Indefinite

10/24/2023

Pursuant to FINRA Rule 9552(h) and in accordance with FINRA's Notice of Suspension and Suspension from Association letters dated July 21, 2023 and August 14, 2023, respectively, on October 24, 2023, Luley is barred from association with any FINRA member in all capacities. Luley failed to request termination of his suspension within three months of the date of the Notice of Suspension; therefore, he is automatically barred from association with any FINRA member in all capacities.

Unsuitable recommendations of alternative investments.

$430,000.00

$30,609.70

Unsuitable recommendations of alternative investments.

$100,000.00

$11,592.70

Pruco Securities, LLC

Discharged

Registered Representative failed to amend his U4 in a timely manner to disclose the closing of two client complaints initiated at his prior Broker Dealer, and he failed follow Company policy for moving his Registered Private Office to his home.

Unsuitable recommendation of non-traded REIT.

$70,000.00

$35,000.00

Unsuitable recommendations of alternative investments.

$150,000.00

$66,180.93

UNSUITABLE PURCHASE OF GPB AUTOMOTIVE

$100,000.00

$101,732.98

Unsuitable recommendation re: GPB Automotive.

$75,000.00

$59,015.67

CLAIMANTS ALLEGE UNSUITABLE RECOMMENDATION OF GPB IN JAN 2018.

$70,000.00

$30,000.00

Claimants allege failure to conduct Due Diligence on several points, unsuitable recommendation, over concentration, misrepresentations and omissions in violation of FINRA and SC regulations in the sale of alternative investments starting in 2014.

$250,000.00

$132,535.55

Claimants allege failure to conduct Due Diligence on several points, unsuitable recommendation, over concentration, misrepresentations and omissions in violation of FINRA regulations in the sale of alternative investments. The client opened their accounts in 2014.

$170,000.00