Maurice Naylon Allegedly Engaged in Outside Business Activities
Maurice Naylon (CRD #: 831841), a previously registered broker with San Blas Securities, has entered into an Acceptance, Waiver, and Consent agreement with FINRA. This disclosure appears in his BrokerCheck record, accessed on September 1, 2023. Details regarding FINRA’s outside business allegations are provided below.
On June 27, 2023, Maurice Naylon entered into an Acceptance, Waiver, and Consent agreement (AWC) in which he consented to the findings that he participated in an outside business even though his firm did not approve it.
The AWC alleges that in September of 2018, Maurice Naylon requested his firm’s approval for an outside business activity that would allow him to assume ownership of a company providing structured settlements. He allegedly continued to own and operate the company through March 2021, despite the fact the firm had not approved his request. Maurice Naylon allegedly falsely certified on three annual compliance questionnaires that he had not engaged in any outside business activities that were not approved by his firm.
FINRA Rule 3270
FINRA Rule 3270 requires brokers to disclose any business activities they engage in outside their firm, as well as any compensation they may receive from these activities.
Sanctions
As part of the terms of the AWC, Maurice Naylon consented to a 45-day suspension and a $5,000 fine.
You can read a copy of the AWC here.
Outside Businesses
Maurice Naylon reported the following outside businesses on his detailed BrokerCheck record:
- Insurance Sales
- Upstate Development Co.: Real estate rental
- The Financial Architects
- Designed Settments Services
- Life Insurance General Agency
- Buffalo Renaissance Foundation
- Regional Traffic Alliance
- Buffalo and Erie County Naval & Military Park
- Employer Support for the Guard and Reserve
Termination by Lincoln Financial Advisors Corporation
Lincoln Financial Advisors Corporation fired Maurice Naylon following allegations that he participated in a disapproved outside business.
Background Information
Maurice Naylon has passed the following exams:
- Series 63 Uniform Securities Agent State Law Examination
- Series 22TO Direct Participation Programs Representative Examination
- Series 6TO Investment Company Products / Variable Contracts Representative Examination
- SIE – Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
- Series 1 Registered Representative Examination
He has registered with the following firms:
- San Blas Securities (CRD #: 290605)
- Lincoln Financial Advisors Corporation (CRD #: 3978)
- The Lincoln National Life Insurance Company
- New England Securities (CRD #: 615)
- Aetna Life Insurance and Annuity Company (CRD #: 13256)
- E.I. Sales (CRD #: 1703)
- CG Equity Sales Company (CRD #: 145)
Kurta Law Can Help
If you worked with Maurice Naylon 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 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.