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Bruce Lefavi Suspended by FINRA

Fitapelli Kurta is investigating customer complaints against Bruce Lefavi, who is the president and majority owner of Bruce A. Lefavi Securities, Inc.  Bruce A. Lefavi Securities, Inc. has been a member of the Financial Industry Regulatory Authority, or FINRA, since 1982.  The firm is based in Salt lake City, Utah and has approximately 15 registered representatives.

On July 7, 2014, Bruce Lefavi consented to a suspension and fine of $75,000 for various violations of FINRA and SEC rules.  Specifically, FINRA accused Bruce Lefavi of distributing advertisements and sales literature which contained exaggerated and misleading claims.  These claims were made on Bruce Lefavi’s website and radio show called “Bulletproof Your Financial Future.”  Bruce Lefavi’s radio show was a nationally syndicated two hour call-in show, which aired on Saturdays.  FINRA found that Bruce Lefavi’s claims made on his radio show violated, among other rules FINRA Rule 2210.  Mr. Lefavi made general solicitations for private placements in violation of FINRA and SEC rules.  Mr. Lefavi FINRA suspension has ended.

Unfortunately, the 2014 regulatory complaint against Bruce Lefavi is not an isolated occurrence.  According to Bruce Lefavi’s FINRA BrokerCheck report, he has four disclosed customer complaints.  The majority of FINRA member brokers do not have any customer complaints and it is rare for brokers to have more than two customer complaints.  The customer complaints against Bruce Lefavi alledge a variety malfeasance, including his failure to explain the material risks of certain investment products.

If you or someone you know lost money investing with Bruce Lefavi or Bruce A. Lefavi Securities, Inc.  you may be able to recover your losses.  Fitapelli Kurta will investigate and evaluate your complaint against Bruce Lefavi for free.  The law limits the time you have to seek redress. Do not delay.

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