Nylife Securities LLC

Broker Bryan Moskowitz in Nylife Securities LLC Firm Has Customer Complaint

February 27, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Bryan Moskowitz (Moskowitz), previously associated with Nylife Securities LLC, has been subject to at least one disclosable event. These events include one tax lien. Several of those complaints against Moskowitz concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a final customer complaint on November 11, 2024.

Without admitting or denying the findings, Moskowitz consented to the sanctions and to the entry of findings that he excessively and unsuitably traded a customer account. The findings stated that Moskowitz recommended high frequency in-and-out trading to the customer, a veterinarian in his mid-60s, even when the price of his recommended securities did not materially change. The customer relied on Moskowitz’ advice and routinely followed his recommendations, and as a result, Moskowitz exercised de facto control over the account. Moskowitz’ recommendations resulted in an annualized turnover rate of 18 and an annualized cost-to-equity ratio of approximately 93 percent. Moskowitz’ in-and-out trading in the customer’s account generated total trading costs of $16,902, including $13,145 in commissions, and caused $81,614 in total realized losses.

Broker Jeffrey Wedgeworth in Nylife Securities LLC Firm Has Customer Complaint

February 26, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on November 13, 2024.

Claimant alleges REIT purchased was unsuitable.

Broker Kim Tran in Nylife Securities LLC Firm Has Customer Complaint

February 25, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kim Tran (Tran), previously associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Tran 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 $14,790.00 on November 21, 2024.

The policyowner alleges that the signatures on three loan checks taken from her New York Life Custom Whole Life Insurance policy in April, May, and June 2023, respectively, were not hers. Additionally, an address change was initiated without the policyowner’s consent. The Company offered to reinstate the whole life insurance policy and reverse the loan transactions.

There are Recent Customer Complaints with Broker Ceondre Colvin in Firm Nylife Securities LLC

February 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ceondre Colvin (Colvin), previously associated with Nylife Securities LLC, has at least 3 disclosable events. These events include 2 customer complaints, one regulatory, alleging that Colvin recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on November 27, 2024.

Without admitting or denying the findings, Colvin consented to the sanction and to the entry of findings that he refused to provide documents and information and to appear for on-the-record testimony requested by FINRA in connection to its investigation of a customer complaint that had been filed against him.

Broker Dennis Carter in Nylife Securities LLC Firm Has Customer Complaint

February 24, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on November 25, 2024.

Plaintiffs allege defendant facilitated a fraudulent scheme that attempted to minimize tax liability through a charitable planning trust strategy, which involving establishing various trusts and purchasing life insurance policies. Among other policies, Plaintiff, Nathan Ringer, purchased a variable universal life insurance policy in May 2019.

There are Recent Customer Complaints with Broker Paul Edwards in Firm Nylife Securities LLC

February 22, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on December 09, 2024.

Without admitting or denying the findings, Edwards consented to the sanctions and to the entry of findings that he forged the signatures of two customers on an insurance document by electronically signing the customers’ names without authorization and falsified seven documents by altering them after they were signed by six different customers. The findings stated that upon learning of the forgery, one of the customers complained to Edward’s member firm. Edwards never submitted the form to insurance company or his firm. Edwards requested that customers sign blank forms that he then completed after they had been signed and submitted them to the firm. Five of the altered documents, including automatic investment authorization forms, one-time distribution request forms, and an asset movement authorization form, were required books and records of the firm. None of the customers who signed blank forms complained, and the underlying transactions were authorized.

There are Recent Customer Complaints with Broker Mitchell Panchula in Firm Nylife Securities LLC

February 20, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Mitchell Panchula (Panchula), previously associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Panchula 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 $97,000.00 on December 19, 2024.

Claimant alleges between April 2020 – January 2021, Respondent Panchula made misrepresentations on policy applications that placed the claimant in unsuitable annuity contracts. Claimant alleges general noncompliance with the SEC’s Regulation BI, and that Respondent violated FINRA rules violation of FINRA Rule 2111 and FINRA Rule 2330.

There are Recent Customer Complaints with Broker Ryan Catlaw in Firm Nylife Securities LLC

February 17, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ryan Catlaw (Catlaw), currently associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Catlaw 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 $36,409.00 on January 06, 2025.

The customers allege they were not informed of the fees and charges related to the variable annuities they purchased in December 2022 and February 2023. The customer request to mitigate or recover the surrender charges assessed when they surrendered their contracts in January 2025.

Broker Jonathon Frey in Nylife Securities LLC Firm Has Customer Complaint

February 8, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on December 26, 2023.

The Customer alleges that he did not understand the consequences when he purchased a variable annuity in June 2019. The customer is disappointed that he cannot access his funds or close the annuity.

Broker Kyle Wittgren in Nylife Securities LLC Firm Has Customer Complaint

February 6, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on January 22, 2024.

The Trustee alleges that he was not presented with any options other than the recommended five (5) variable universal life insurance policies he purchased in December 2021.