Katelyn Cordido Reese Facing FINRA Suspension
Katelyn Cordido Reese (CRD #: 6516916), a previously registered broker with NYLife Securities, has been suspended by FINRA. This disclosure appears on her BrokerCheck record, accessed on August 26, 2024. Keep reading if you have questions regarding her alleged conduct.
Regulatory Action
Katelyn Cordido Reese entered into an Acceptance, Waiver, and Consent agreement (AWC), in which she consented to the findings that she falsified documents by placing her personal bank account information on life insurance applications for non-family-member customers. The findings state that she paid a total of $30,366.80 in life insurance premiums for non-family-member customers.
She allegedly received advanced commissions from the life insurance company she worked as an agent for. Eventually, the insurance company customers either canceled the policies or updated the payment information to their personal bank accounts.
When Katelyn Cordido Reese left her member firm, she allegedly owed $144,000 for advanced sales commissions on canceled policies. She has allegedly entered into a payment plan with the insurance company’s collection department to pay back the money she owes.
Terms of the AWC
As part of the terms of AWC, Katelyn Cordido Reese consented to a 16-month suspension and a $5,000 fine. You can read a copy of the AWC here.
Background Information
Katelyn Cordido Reese 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
Kurta Law Can Help
If you worked with Katelyn Cordido Reese and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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 that 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. Do not let securities fraud go unchecked. Start your recovery process today.
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