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Kermit Griner Allegedly Involved in Misrepresentation, Forgery Claims

Mar 18, 2022 forgery

Kermit Griner (CRD #: 1070425), a broker registered with NYLIFE Securities LLC, is facing allegations of unsuitable investment recommendations as well as forgery. This information is from Kermit Griner’s BrokerCheck record, accessed on March 10, 2022. Keep reading for more information on  Kermit Griner’s conduct as a broker, pending customer disputes, and tax liens.

On November 4, 2021, an attorney representing an investor’s estate alleged that Kermit Griner may have recommended and executed potential unsuitable transactions in variable and fixed annuities. This pending dispute also raises questions of possible forgery, as the attorney alleges that the signatures on several forms do not match his clients' authentic signatures.

Unsuitable Annuity Allegations

FINRA Rule 2330 establishes regulations for the purchase and exchange of deferred variable annuities. Brokers and firms are prohibited from recommending the purchase or exchange of deferred variable annuities unless they have a reasonable basis to believe that the transaction is suitable under FINRA Rule 2111. Rule 2111 defines suitable recommendations as recommendations that fit an investor’s age, financial situation and needs, risk tolerance, and investing experience.

Forgery Allegations 

Forgery is a violation of FINRA Rule 2010, which requires brokers and firms to observe high standards of commercial honor and just and equitable principles of trade. Kermit Griner has one other previous allegation of forgery on his record.

IRS Tax Liens

Kermit Griner is the subject of three tax liens totaling $331,189.09.

Background Information

Kermit Griner has passed the following exams:

  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination
  • Series 22 - Direct Participation Programs Representative Examination
  • Series 6 - Investment Company Products/Variable Contracts Representative Examination

He is currently registered in 6 states and is a registered investment adviser in Georgia.

Kermit Griner is registered with the following firms:

  • NYLIFE Securities, LLC (CRD #: 5167)
  • Eagle Strategies LLC (CRD #: 110826)

Kurta Law Can Help

If you worked with Kermit Griner and have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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.