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Michael Vauble Allegedly Misrepresented Life Insurance Policies

Michael Vauble (CRD #: 1109895), a broker registered with NYLIFE Securities, is alleged to have misrepresented life insurance policies, according to his BrokerCheck record, accessed on April 8, 2022. If you have questions about Michael Vauble’s conduct as a broker, read on.

Misrepresentation Allegations

Michael Vauble has been the subject of two investor complaints of misrepresenting life insurance policies:

  • On February 3, 2022, an investor alleged that Michael Vauble failed to communicate that a variable universal life insurance policy the investor bought in August 1996 would need an increased monthly premium to maintain coverage. This dispute was denied; however, firms can deny disputes without any external review. Investors may still be able to recover their losses through FINRA arbitration after a denial.
  • On August 23, 2018, multiple investors alleged that Michael Vauble incorrectly claimed a variable universal life insurance policy purchased in November 2011 would not require additional premiums after purchase. The dispute is currently pending.

FINRA Rule 2020

Variable Universal Life insurance policies (VUL) come with costs that may not be suitable for every investor. FINRA Rule 2020 bans the use of manipulation, deception, and other fraudulent tactics to guide investors’ decisions. Misrepresentation of investments, including an investment’s costs or risks, may be a violation of this rule.

Background Information

Michael Vauble has passed the following exams:

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

He is a registered broker in Arizona and Iowa.

Kurta Law Can Help

If you worked with Michael Vauble 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.