Christopher McDonald Facing Allegations that He Misled an Investor
Christopher McDonald (CRD #: 6157763), a broker registered with NYLife Securities, is facing allegations regarding a variable annuity. This is according to his BrokerCheck record, accessed on July 27, 2023. Investors who have questions about his conduct as a broker should keep reading.
On May 15, 2023, an investor alleged that Christopher McDonald misled him when he purchased variable annuities in June 2020 and July 2021. Misleading investors violates FINRA Rule 2020.
What is a Variable Annuity?
Variable annuities are complex investments that combine investment and insurance components. Their associated fees, surrender charges, and potential tax liability can negate any supposed benefits they offer. The risk associated with the investment component makes them unsuitable for many investors.
FINRA Rule 2020
FINRA Rule 2020 prohibits the misrepresentation of investments or omission of material facts. Material facts include information about an investment’s potential returns, as well as charges, expenses and fees.
Christopher McDonald has passed the following exams:
- Series 65 Uniform Investment Adviser Law Examination
- Series 63 Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
- Series 6 Investment Company Products / Variable Contracts Representative Examination
He is a registered broker with 14 states and is a registered investment adviser in Illinois.
Besides NYLife Securities, Christopher McDonald has registered with Eagle Securities (CRD #: 110826).
Kurta Law Can Help
If you worked with Christopher McDonald and you have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org 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.