Did Morrayna Gaskins Misrepresent a Variable Insurance Policy?

Morrayna Gaskins (CRD #:6799611), a broker registered with Equitable Advisors, is involved in an investor dispute, according to her BrokerCheck record accessed on March 20, 2022. 

According to the allegations filed on January 5, 2022, Morrayna Gaskins misrepresented a variable insurance policy sold in 2019. The firm denied the dispute, but investors should know that firms can deny disputes without any external review. Investors should also know that they can still pursue FINRA arbitration and recover their losses following a denial.

FINRA Rule 2020 and 2010

Misrepresentation is a common problem in the securities industry. It usually occurs when an investment broker makes false or misleading statements about a financial product in an effort to persuade their customer to invest.

The following can be considered as misrepresentation or omission:

• Inadequate due diligence concerning security offerings
• Failure to disclose all material risks
• Failure to disclose all transaction costs
• Unrealistic investment performance projections

Misrepresentations and omissions concerning material facts in investment recommendations deprive investors of the information they need to assess risks associated with a particular investment. FINRA Rule 2020 prohibits brokerage firms and stockbrokers from making material misrepresentations or inducing people into buying investments with false statements about their potential benefits. 

Losses that can be attributed to a stockbroker’s material misrepresentations of facts may result in a viable securities arbitration claim for damages.

Background Information

Morrayna Gaskins 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

She is a registered broker in six states.

Besides Equitable Advisors, Morrayna Gaskins has not worked with any other firm.

Kurta Law Can Help

If you have worked with Morrayna Gaskins and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or 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 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. Please reach out if you have any questions about what steps to take next to recover your investment losses.