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Cate Simons Allegedly Misrepresented Variable Annuity

Cate Simons (CRD #: 2732605), a broker registered with Equitable Advisors, allegedly misrepresented an investment product, according to her BrokerCheck record, accessed on May 12, 2023. If you want to know more about her alleged conduct as a broker, read on.

Investor Dispute

On April 5, 2023, an investor alleged that Cate Simons misrepresented a variable annuity purchased in 2018. This dispute is currently pending.

FINRA Rule 2020

FINRA Rule 2020 bans the use of deception, manipulation, and other fraudulent methods to influence investors’ decisions. This includes the misrepresentation or omission of information, such as an investment’s requirements, limitations, or potential returns.

What are Variable Annuities?

Variable annuities are complex investments. These policies can decline in value depending on the performance of the underlying security. Surrender charges, tax penalties, and other fees can make these policies unsuitable.

Background Information

Cate Simons has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Cate Simons is a registered broker in ten states and a registered investment adviser in nine states.

She has also worked for the following firms:

  • Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)
  • UBS Financial Services (CRD#:8174)
  • UBS PaineWebber (CRD#:8174)
  • RBC Dain Rauscher (CRD#:31194)
  • Sutro & Company (CRD#:801)
  • Charter Investment Group (CRD#:42506)
  • Dain Rauscher (CRD#:7600)

Kurta Law Can Help

If you worked with Cate Simons 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. 

 

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