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Did Qasim Ellis Misrepresent a Variable Insurance Policy?

Mar 28, 2022 General

Qasim Ellis (CRD #:6083667), a broker registered with Equitable Advisors, is involved in an investor dispute, according to his BrokerCheck record accessed on March 20, 2022. 

According to the allegations filed on January 5, 2022, Qasim Ellis misrepresented a variable insurance policy sold in 2019. The firm denied the dispute, but investors should know that firms can deny disputes without any external review. Investors should also know that they can still pursue FINRA arbitration and recover their losses following a denial. 

FINRA Rule 2020 and 2010

Misrepresentations concerning material facts in investment recommendations deprive investors of the information they need to assess risks associated with a particular investment. FINRA Rule 2020 prohibits brokerage firms and stockbrokers from making material misrepresentations or inducing people into buying investments with false statements about their potential benefits. 

Losses that can be attributed to a stockbroker's material misrepresentations of facts may result in a viable securities arbitration claim for damages.

Background Information

Qasim Ellis has passed the following exams:

  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination

He is a registered broker in six states.

Besides Equitable Advisors, Qasim Ellis has also worked with Aegis Capital Corp. (CRD#:15007).

Kurta Law Can Help

If you have worked with Qasim Ellis and have concerns about your investments, don't hesitate to contact us today at 877-600-0098 or 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 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. Please reach out if you have any questions about what steps to take next to recover your investment losses.