Senh Ly Allegedly Misrepresented Unsuitable Investment

Senh Ly (CRD #: 4538978), a broker registered with LPL Financial, allegedly misrepresented a structured note, according to their BrokerCheck record, accessed on January 4, 2023. If you have questions about their alleged conduct as a broker, read on.

Investor Dispute

On October 21, 2022, an investor alleged that Senh Ly misrepresented an unsuitable structured note on October 7, 2022. This dispute was denied by the firm.

However, investors should be aware that firms don’t need to allow an external review before denying a dispute. Investors can still seek out FINRA arbitration following a denial and may be able to recover their losses.

FINRA Rule 2020

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise unethical methods to influence the purchase or sale of securities. This includes the misrepresentation or omission of information related to investments.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile. These profiles describe an investor’s tax status, risk tolerance, and other characteristics.

Investors who rely on brokers for recommendations may be able to recover their losses through FINRA arbitration.

What are structured notes?

Structured products are complex investments that combine a bond and a derivative. Investors’ returns are dependent on the performance of the derivative component—examples of which include forwards, options, and swaps.

Background Information

Senh Ly has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

Senh Ly is a registered broker in 11 states and the District of Columbia. They are also a registered investment adviser in California.

They have also worked for XCU Capital Corporation (CRD#:19899) and World Group Securities (CRD#:114473).

Kurta Law Can Help

If you worked with Senh Ly 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.