Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Lickhai Quach (Quach), previously associated with Transamerica Financial Advisors, Inc, has at least one disclosable event. These events include one regulatory event, alleging that Quach recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on October 24, 2023.
Respondent violated sections 11-306, and 11-301(2) and (3) of the Maryland Securities Act by, among other things, soliciting a loan from a customer, the proceeds of which were used for his or his wife’s personal benefit and/or invested in his wife’s business, engaging in the borrowing of money from a customer in violation of FINRA Rule 3240 and Transamerica’s policies and procedures, and failing to disclose the risks associated with the loan and investment in Quach’s wife’s business. Respondent offered and sold an unregistered security in violation of section 11-501 of the Maryland Securities Act.