Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Klay Nichol (Nichol), previously associated with Galaxy Digital Partners LLC, has at least one disclosable event. These events include one customer complaint, alleging that Nichol 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 $3,991,791.00 on April 13, 2023.
In April 2023, the [REDACTED] commenced an arbitration against Galaxy Digital Partners LLC (“GDP”). In their statement of claim, the [REDACTED] allege that Mr. Nichol recommended investments that were unsuitable for the [REDACTED] given their investment objectives and respective ages. The [REDACTED] allege that Mr. Nichol made these purported recommendations between July 2021 and April 2022. Mr. Nichol is not a party to the arbitration. GDP settled this dispute with the [REDACTED] on or about February 21, 2024, with no party admitting or acknowledging any fault or liability. As part of this settlement, the [REDACTED] terminated the arbitration with prejudice, and released all claims that they have, had or May have against GDP and its affiliates, including Mr. Nichol.