Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Narith Long (Long), previously associated with Nylife Securities LLC, has at least 9 disclosable events. These events include 8 customer complaints, one regulatory event, alleging that Long 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 $80,000.00 on November 24, 2021.
Claimant alleges that in 2020, the RR advised her to open brokerage accounts with outside broker-dealers, which the RR would manage with full discretion to trade on the complainant’s behalf. The complainant further alleged the RR implemented a high-risk, high-volume, high frequency investment strategy causing her to lose $80,000. Claimant seeks compensation for her losses as well as punitive damages, interest, attorney and consulting fees.