Rakesh Bansal is the Subject of a Variable Annuity Dispute

Rakesh Bansal (CRD #: 2169184), a broker registered with NYLife Securities, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on January 26, 2024. Investors who have questions about this dispute should keep reading.

On October 20, 2023, an investor alleged that Rakesh Bansal failed to communicate a variable annuity policy’s risks, fees, and holding period. The dispute was denied, but investors should know that investors can deny disputes without any external review. Our attorney may be able to help investors recover losses following a denial via FINRA arbitration.

Variable Annuities 

Variable annuities are complex investments that are often unsuitable. These policies can decline in value depending on the performance of the underlying securities. Surrender charges, tax penalties, and other fees can make these policies unsuitable.

Misrepresentation and Omission

FINRA Rule 2020 prohibits the misrepresentation and omission of material facts. Material facts include information about an investment’s potential returns, as well as fees and holding periods. Brokers must always disclose the risks associated with illiquid investments, such as early withdrawal fees. 

Background Information 

Rakesh Bansal has passed the following exams: 

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

He is a registered broker in 32 states and D.C. 

Kurta Law Can Help 

If you have worked with Rakesh Bansal and have concerns about your investments, do not hesitate to contact us 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 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. Do not let securities fraud go unchecked. Start your recovery process today.