Finra bars former Pruco rep for falsifying variable annuity paperwork

The Financial Industry Regulatory Authority Inc. has barred former Pruco-registered representative Karen Paek for creating, signing and submitting six fictitious variable annuity applications to meet her minimum production requirements at Pruco. (More:​ Former MetLife, Prudential broker accused of deceptive variable annuity sales practices) Ms. Paek, who joined the firm in 2015 and was discharged in February 2018, received approximately $23,000 in advance commissions for the fictitious VA applications, all of which was recovered by the Pruco, Finra said. She engaged in the rule-breaking activity between November 2016 and December 2017, Finra said it began its investigation in March 2018 after Pruco terminated Ms. Paek's registration.