Betty Moglen is the Subject of a Univeral Life Insurance Dispute

Betty Moglen (CRD #: 1246956), a broker registered with NYLife Securities, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on NYLife Securities. Details concerning this dispute are provided below. 

Investor Allegations 

On December 1, 2023, an investor alleged that his non-securities Universal Life insurance policy contained funding requirements necessary to maintain coverage that was not clearly understood at the time of sale. The policy allegedly received funds via transfer from a Variable Universal Life policy held with Lincoln Benefit Life. The dispute was denied by the firm, but investors should know that they can still recover losses following a denial.  

Misrepresentation 

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material information – such as funding requirements – violates this rule.

High Standards of Commercial Honor 

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of FINRA Rule 2020 also violate this rule. 

Background Information 

Betty Moglen has passed the following exams: 

• SIE – Securities Industry Essentials Examination
• Series 22 Direct Participation Programs Representative Examination  
• Series 6 Investment Company Products/ Variable Contracts Representative Examination 

She is a registered broker in California. 

Kurta Law Can Help 

If you have worked with Betty Moglen and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.