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Edgar Rodriguez Allegedly Failed to Explain Variable Annuities to Clients

Edgar Rodriguez (CRD #: 5225952), a broker registered with NYLIFE Securities, is the subject of a pending dispute, according to his BrokerCheck record, accessed on March 22, 2023. If you have questions about his alleged conduct as a broker, keep reading.

Investor Dispute

On January 26, 2023, several investors filed a dispute alleging that they believed the variable annuities that Edgar Rodriguez sold them in February 2022 were actually traditional IRAs. They further allege that they did not properly understand certain terms of these annuities. This dispute is currently pending.

FINRA Rule 2020

FINRA Rule 2020 bans the use of deception, manipulation, and other fraudulent tactics to influence the purchase or sale of securities. This includes the misrepresentation or omission of information related to investments, including their features, risks, 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

Edgar Rodriguez 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

Edgar Rodriguez is a registered broker in Illinois, Missouri, New Mexico, and Texas.

Kurta Law Can Help

If you worked with Edgar Rodriguez and you have concerns about your investments, please contact us today at 877-600-0098 or 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.