Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Louis No (No), previously associated with Nylife Securities LLC, has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that No recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on June 27, 2023.

Respondent No failed to respond to FINRA requests for information.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Charles Lek (Lek), previously associated with Lek Securities Corporation, has at least 3 disclosable events. These events include 3 customer complaints, alleging that Lek recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $24,000,000.00 on March 15, 2021.

The customer is alleging that the losses it suffered were the result of the restrictions placed upon it by the Firm in its trading and its access to margin during the market volatility that occurred at the onset of the COVID 19 pandemic in February and March 2020.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Marc Rosenthal (Rosenthal), currently associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Rosenthal recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $9,500.00 on February 10, 2014.

CUSTOMER ALLEGES THAT HE WAS NOT INFORMED OF THE 10% EARLY WITHDRAWAL PENALTY ASSOCIATED WITH WITHDRAWAL OF FUNDS FROM HIS VARIABLE ANNUITY POLICY IN MARCH AND JULY 2013, WHICH HAS RESULTED IN A TAX LIABILITY.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Craig Friedrichsen (Friedrichsen), currently associated with LPL Enterprise, LLC, has at least 4 disclosable events. These events include 4 customer complaints, alleging that Friedrichsen recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $41,500.00 on November 22, 2023.

Claimant alleges that, in September of 2015, the representative failed to disclose the illiquid nature and risks associated with a non-traded real estate investment trust. Claimant further alleges that the recommendation was unsuitable.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Stephen Lucas (Lucas), currently associated with Cambridge Investment Research, INC., has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Lucas recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on September 30, 2002.

[CUSTOMER’S] COMPLAINT ALLEGES HE PAID SUBSTANTIAL SURRENDER CHARGES TRANSFERRING HIS INVESTMENTS FROM MONY TO PACIFIC LIFE AND BACK AGAIN TO MONY WITH NO APPARENT PURPOSE BENEFICIAL TO HIM ([CUSTOMER])

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Fairchild (Fairchild), currently associated with Morgan Stanley, has at least one disclosable event. These events include one customer complaint, alleging that Fairchild recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint on July 07, 2001.

CLIENT COMPLAINED THAT ML RECOMMENDED LUCENT WHEN THEY SHOULD NOT HAVE THAT. I WWOULD NOT SELL HIS STOCK WHEN HE WANTED TO.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Stephen Sylvester (Sylvester), previously associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Sylvester recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $36,000.00 on January 12, 2021.

Customer brought forth a mediation claim alleging the RR did not take into consideration her liquidity concerns in general or properly illustrate a balanced view of asset classes through his use of a financial planning software program. The customer also alleges failure to complete a formal risk assessment and disregard for her social security concerns. The alleged activity occurred between the dates of January 2019 – November 2021.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Matthew Hyson (Hyson), currently associated with Fidelity Brokerage Services LLC, has at least one disclosable event. These events include one customer complaint, alleging that Hyson recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $10,000.00 on September 09, 2019.

The customer alleges misrepresentation from October 2018 until September 2019.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Adam Beck (Beck), previously associated with Royal Alliance Associates, INC., has at least one disclosable event. These events include one customer complaint, alleging that Beck recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $500,000.00 on September 09, 2019.

Client alleges that the exchange of a variable universal life policy to a variable annuity was unsuitable.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Dunbar (Dunbar), previously associated with MML Investors Services, LLC, has at least 4 disclosable events. These events include one customer complaint, 3 regulatory events, alleging that Dunbar recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $2,528,328.00 on June 10, 2020.

Customer alleges that RR Dunbar misrepresented and/or omitted  material facts relating to the sale of a life insurance policy.

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