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Quang Mai Fired from Allstate Financial Services

May 11, 2022 Fired Brokers

Quang Mai (CRD #: 6937503), a former broker, was fired from his previous firm, according to his BrokerCheck record, accessed on May 6, 2022. If you have questions about Quang Mai’s conduct as a broker, keep reading.

Discharge from Allstate Financial Services

On March 17, 2022, Quang Mai was fired from Allstate Financial Services after allegedly failing to disclose outside business activity, permitting unaffiliated insurance agents to participate in the sale of insurance, sharing customer information with unaffiliated companies, and using an unauthorized email account to conduct insurance business.

Quang Mai’s detailed BrokerCheck report does not list any outside business activities.

Regulation S-P

Regulation S-P is an SEC regulation that requires firms to establish and enforce privacy policies to protect customer information. It also restricts firms from sharing clients’ information with third parties without their knowledge or permission.

FINRA Rule 3270

Brokers must disclose any compensation they receive outside their role as a broker to comply with FINRA Rule 3270. This may include employment by another company, contract work, and other activities the broker expects to be paid for. 

Background Information

Quang Mai has passed the following exams:

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

He previously worked for Allstate Financial Services (CRD#:18272).

Kurta Law Can Help

If you worked with Quang Mai and you 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.