Everton Lewis Subject of Tax Liens
Everton Lewis (CRD #: 2469780), a broker registered with NYLife Securities, is the subject of multiple tax liens according to his BrokerCheck record, accessed on September 21, 2021. There is also a settled investor dispute – details are provided below.
Everton Lewis has been the subject of four tax liens between 2018 and 2021. These total $522,719.39.
On November 30, 2018, an investor alleged that Everton Lewis recommended unsuitable investments and overconcentrated the portfolio in certain securities. The dispute settled for $165,000.
According to FINRA Rule 2111, suitable investments must fit an investor’s risk tolerance, investment time horizon, financial goals, investing experience, and age. Brokers have access to this information through the investor’s profile. If brokers recommend unsuitable investments, the investor may be entitled to recover losses.
- Investments can be unsuitable because they are high risk and likely to lose money.
- Securities may also be unsuitable because they are illiquid, meaning that they are meant to be held for an extended time and investors may have to pay high fees to cash out.
- Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
- Investment strategies can be unsuitable if they involve too much risk. Risky strategies include overconcentration and the use of leverage or margin.
These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are over-concentrated in a particular stock or sector.
Everton Lewis Background Information
Everton Lewis has passed the following exams:
- Series 63 Uniform Securities Agent State Law Examination
- Securities Industry Essentials Examination
- Series 6 Investment Company Products/ Variable Contracts Representative Examination
He is a registered broker in 20 states.
Everton Lewis has only registered with NYLife Securities (CRD #: 5167).
Kurta Law Can Help
If you worked with Everton Lewis and you have concerns about your investments, contact Kurta Law today. Call 877-600-0098 or email email@example.com.