Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Xiao Mei Chen (Chen), currently associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Chen 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 $5,000,000.00 on May 12, 2025.
Claimant alleges, among other things, that she was misled when it was recommended, she use the proceeds of her 401K containing mutual funds and bonds to purchase a Fixed Annuity leading to lost market opportunity. Claimant seeks general and compensatory damages over $5,000,000, attorneys’ fees, punitive damages, costs and interest.