Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Raymond Nye (Nye), currently associated with Stonex Securities INC., has at least one disclosable event. These events include one customer complaint, alleging that Nye 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 $75,910.00 on April 15, 2022.
Trustee for the customer alleged that in 2012 the representative failed to transfer assets into a Living Trust and the error was not realized until 2022. Upon consult, trustee alleged that the representative advised that the assets be liquidated resulting in capital gains. After the liquidation, customer died and the Trustee requested reimbursement of the amount of capital gains created by liquidation of assets.