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Investor Alleges Suihock Goy Recommended Unsuitable GWG L Bonds

Oct 18, 2022 Unsuitable Investments

Suihock Goy (CRD #: 2821380), a broker registered with NI Advisors, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on January 6, 2023. Keep reading if you want to know more about his conduct as a broker.

Investor Dispute

On August 2, 2022, an investor alleged that Suihock Goy breached his contract, and made unsuitable recommendations with regard to a $200,000 concentration of GWG L bonds and a $50,000 withdrawal. The client seeks $100,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. An investor’s profile describes certain characteristics, such as their risk tolerance, age, and financial goals.

Brokers must also follow this rule when recommending investment strategies. For example, overconcentration in a particular stock or security is a strategy that can be unsuitable for investors.

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

Background Information

Suihock Goy has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • Series 99TO Operations Professional Examination 
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 14 General Securities Representative Examination 
  • Series 53 – Municipal Securities Principal Examination
  • Series 27 – Financial and Operations Principal Examination
  • Series 24 – General Securities Principal Examination

Suihock Goy is a registered broker in 23 states and a registered investment adviser in California, Texas, and Massachusetts.

He has also worked for the following firms:

  • White Pacific Securities (CRD#:42505)
  • PMB Securities Corporation (CRD#:118642)
  • Morgan Stanley DW (CRD#:7556)
  • InterFirst Capital (CRD#:7659)

Kurta Law Can Help

If you worked with Suihock Goy 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.