Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Nicholas Rostykus (Rostykus), previously associated with Royal Alliance Associates, INC., has at least one disclosable event. These events include one customer complaint, alleging that Rostykus 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 $219,127.91 on September 28, 2023.
CUSTOMER ALLEGES THAT SHE TOLD REPRESENTATIVE IN DECEMBER 2022 THAT SHE REQUIRED LIQUIDITY BECAUSE SHE INTENDED TO PURCHASE A HOME IN THE FUTURE. IN JANUARY 2023, REPRESENTATIVE RECOMMENDED AND CUSTOMER AGREED TO INVEST A TOTAL OF $870,000.00 IN TWO PRIVATE PLACEMENT INVESTMENTS. CUSTOMER SIGNED SUBSCRIPTION AGREEMENTS, WHICH DISCLOSED THE RISKS AND NATURE OF THE INVESTMENTS, INCLUDING LACK OF LIQUIDITY. CUSTOMER, HOWEVER, CLAIMS A HEALTH CONDITION AFFECTED HER ABILITY TO MAKE DECISIONS AT THE TIME. WITH RESPECT TO ONE OF THE TWO PRIVATE PLACEMENT INVESTMENTS, A CO-TRUSTEE ALSO REVIEWED AND CONSENTED TO THE INVESTMENT. CUSTOMER ALLEGES $219,127.91 IN LOSSES.