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Brian Clough Allegedly Misrepresented Variable Annuity

Jul 6, 2022 Misrepresentation

Brian Clough (CRD #: 5773103), a broker registered with NYLIFE Securities, allegedly misled an investor, according to his BrokerCheck record, accessed on June 26, 2022. Read on to learn more about Brian Clough’s conduct as a broker.

Alleged Misrepresentation

On April 13, 2022, an investor alleged that, in or around January 2022, Brian Clough misled him regarding the impact of a partial withdrawal on the value of the guaranteed minimum death benefit of a variable annuity he purchased in January 2005. The client alleges Brian Clough told him the death benefit was locked in.

Variable annuities are complex investments that often do not suit investors’ needs. 

This dispute was settled for $67,247.55.

FINRA Rule 2020

Misrepresentation violates FINRA Rule 2020, which prohibits the use of manipulative, deceptive, and otherwise unethical tactics to influence investors’ decisions.

Background Information

Brian Clough has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

He is a registered broker in North Carolina, Tennessee, and Virginia. 

Kurta Law Can Help

If you worked with Brian Clough and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and 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.