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Steven Roberson Named in Pending Dispute

Steven Roberson (CRD #: 7222227), a broker registered with NYLIFE Securities, is the subject of a pending dispute, according to his BrokerCheck record, accessed on November 30, 2022. Keep reading to learn more about his conduct as a broker.

Investor Dispute

On October 1, 2022, an investor named Steven Roberson in a dispute alleging that a variable annuity purchased in November 2021 was not categorized for the client’s age group. This dispute is currently pending.

Variable annuities are complex investments that are often unsuitable. 

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. An investor’s profile includes information about their risk tolerance, financial goals, and age. Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration.

  • Investments can be unsuitable because they are high-risk and likely to lose money.
  • Securities may also be unsuitable because they are illiquid, meaning that they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
  • Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
  • These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are over-concentrated in a particular stock or sector.

Background Information

Steven Roberson 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

Steven Roberson is a registered broker in Ohio and Tennessee.

Kurta Law Can Help

If you worked with Steven Roberson 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.