PAUL H KANAREK is currently employed as a Broker and/or Investment Adviser at PRUCO SECURITIES, LLC. located at 82-12 151ST AVENUE, HOWARD BEACH, NY, 11414.
PAUL H KANAREK has worked at PRUCO SECURITIES, LLC. since February 12, 1982
PAUL H KANAREK has 2 Disclosure Event(s).
Date: April 03, 2002 Category: Customer Dispute Allegations: REGARDING THE 1990 PURCHASE OF A VARIABLE APPRECIABLE LIFE INSURANCE POLICY, THE CLIENT ALLEGED POLICY BEING PAID UP IN 10 YEARS. DAMAGES UNSPECIFIED, HOWEVER THE COMPANY'S GOOD FAITH DETERMINATION ESTIMATES THEM TO BE APPROXIMATELY $16,992.08 Damage Amount Requested: $16,992.08 Settlement Amount: $43,834.57 Broker Comment: THE COMPANY SETTLED FOR $43,834.57.THIS CONCERNS A POLICY INCLUDED IN THE CLASS OF POLICIES THAT WAS THE SUBJECT OF A NATIONWIDE CLASS ACTION SETTLEMENT IN WHICH THE COMPANY WAS RELEASED CONCERNING LIFE INSURANCE SALES PRACTICES. THE POLICYHOLDER DID NOT MAKE A TIMELY CLAIM IN THE CLASS ACTION SETTLEMENT REMEDIATION PLAN. THIS INQUIRY WAS RECEIVED ON A QUESTIONNAIRE FORM SUPPLIED TO THE POLICYHOLDER BY THE COMPANY. THE COMPANY IS REVIEWING THIS INQUIRY WITHOUT WAIVER OF THE COMPANY'S RIGHTS UNDER THE CLASS ACTION SETTLEMENT AND RELEASE. THE COMPANY WILL FILE AN AMENDMENT TO DISCLOSE THE OUTCOME. THE COMPANY BY THIS FILING MAKES NO FINDINGS REGARDING THE ACTIONS OF THE REPRESENTATIVE.
Date: March 21, 1994 Category: Customer Dispute Allegations: REGARDING THE 1988 AND 1989 PURCHASE OF THREETRADITIONAL LIFE INSURANCE POLICIES AND THE 1990 PURCHASE OF AVARIABLE APRECIABLE LIFE (VAL) INSURANCE POLICY, THE CLIENTSALLEGED MISREPRESENATION CONCERNING THE POLICIES BEING SOLDPRIMARILY AS RETIREMENT PLANS. NO COMPENSATORY DAMAGES WEREALLEGED. Settlement Amount: $27,126.72 Broker Comment: THE COMPANY WILL RESCIND THE POLICIES AND RETURNTHE TOTAL PREMIUMS PAID TO THE CLIENTS. (ESTIMATED SETTLEMENTCOST: IN EXCESS OF $27,126.72).THE ALLEGATION AND SETTLEMENT ARE BEING REPORTEDCONSISTENT WITH NASDR RULES PERTAINING TO THE REPORTING OFCERTAIN CUSTOMER COMPLAINTS AND ALL SETTLEMENTS OF $5,000.00 ORMORE. THE COMPANY BY THIS FILING MAKES NO ALLEGATIONSREGARDING THE ACTIONS OF THE REPRESENTATIVE. THIS WASPREVIOUSLY DENIED BY PRUDENTIAL. [CUSTOMERS] ANDDAUGHTER [FAMILY MEMBER] AND FIANCE [FAMILY MEMBER]. ALL PUCHASED POLICIESOVER SEVERAL YEARS. THEY RECEIVED VARIOUS & NUMEROUSCORRESPONDENCE INCLUDING ANNUAL STATEMENTS AND PROSPECTUS.CLEARLY IDENTIFYING THESE AS LIFE INSURANCE POLICES. DON'T[FAMILY MEMBER] & [FAMILY MEMBER]. UNDERSTOOD THEIR POLICIES WELL ENOUGHT TO APPLYFOR WAIVER OF PREMIUM AND REVIEW BENEFITS.
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