Former NYLife Securities Representative Barred from Associating with FINRA Member Firms for Failing to Appear for On-the-Record TestimonyFriday, February 7, 2020
The Financial Industry Regulatory Authority (FINRA) Department of Enforcement recently barred former NYLife Securities LLC registered representative Kari Bracy for refusing to appear for on-the-record testimony. Bracy had been associated with NYLife from July 2009 to January 2019.
FINRA Department of Enforcement has been investigating Bracy’s alleged connection with the sale of a Future Income Payments, LLC’s structured cash flow investment comprised of pension streams. They sent her a request that directed her to appear for on-the-record testimony on January 16, 2020. During a phone call with FINRA staff, Bracy acknowledged that she received the request and stated that she would not appear for testimony at any time.
Based on the foregoing, Bracy violated FINRA Rules 8210 and 2010. Bracy, without admitting or denying the allegations made against her, consented to a bar from associating with FINRA member firms in any capacity in a Letter of Acceptance, Waiver and Consent that was approved by FINRA on January 23, 2020.
Oftentimes brokerage firms can be held liable for the brokers’ misconduct if they failed to supervise them while registered at the firm. If you lost money and you believe there was wrongdoing, you may be able to recover from your broker or the brokerage firm where he or she was registered. Since 1998, the attorneys at ChapmanAlbin LLC have been fighting for victims of investment fraud and broker misconduct. Call us today at 1-877-410-8172 for a free consultation.