Arvind Saxena (CRD #7270550) Has Employment Separation and Criminal Disclosures on FINRA BrokerCheck

Arvind Saxena (CRD #7270550) was previously registered as a broker. We reviewed his BrokerCheck report on March 16, 2026. It reflects one employment separation disclosure and one criminal disclosure. If you worked with Arvind Saxena and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Employment Separation

Arvind Saxena’s FINRA BrokerCheck Report reflects one employment separation disclosure. A summary of the disclosure is below:

On January 17, 2026, NYLIFE SECURITIES LLC discharged Arvind Saxena. Arvind Saxena’s FINRA BrokerCheck Report states the firm ended his employment after an internal investigation found he violated company policy. BrokerCheck says he continued a prohibited outside business activity by referring businesses to a commercial lender without company approval after he was told to stop. BrokerCheck also states no securities products or securities clients were involved.

Criminal Charges

Arvind Saxena’s FINRA BrokerCheck Report reflects one criminal disclosure. A summary of the disclosure is below:

According to Arvind Saxena’s FINRA BrokerCheck Report, he was charged with petty theft in Superior Court of California on November 16, 2003. BrokerCheck states the charge was reduced on January 28, 2004, after a plea to reduce the misdemeanor to an infraction. The amended charge was dismissed. BrokerCheck also lists two months of probation and total fines and court fees of $501.50.

Rule Summary #1: FINRA Rule 3270 (Outside Business Activities of Registered Persons)

FINRA Rule 3270 requires registered persons to give prior written notice before engaging in outside business activities for compensation outside the scope of their firm relationship. When a disclosure involves unapproved outside business activity, this rule is directly relevant.

Rule Summary #2: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)

FINRA Rule 2010 requires firms and associated persons to observe high standards of commercial honor and just and equitable principles of trade. Employment separations tied to policy violations can raise questions about compliance with that standard.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

1. Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

2. Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

3. Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

4. Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Arvind Saxena:

Is not currently registered as a broker.

Has passed the Securities Industry Essentials (SIE) exam. Arvind Saxena has passed Series 7. He has also passed Series 66 and Series 63.

Was previously registered with NYLIFE SECURITIES LLC.

Kurta Law Can Help

If you have worked with Arvind Saxena and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | What is Securities Fraud?

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.