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Yvonne Nguyen Fired from NYLIFE Securities After Allegedly Failing to Disclose OBA

Nov 4, 2022 Fired Brokers

Yvonne Nguyen (CRD #: 6861368), a broker formerly registered with NYLIFE Securities, was fired from that firm, according to her BrokerCheck record, accessed on October 30, 2022. If you have questions about his conduct as a broker, read on.

Discharge from NYLIFE Securities

On August 11, 2022, Yvonne Nguyen was fired from NYLIFE Securities after a review allegedly revealed several concerns, including the following:

  • Two bank accounts associated with Yvonne Nguyen were used to fund policies where the client relationship was unknown
  • Listing her personal email address as client’s contact information, also with an unclear client relationship
  • Undisclosed outside business activity involving Yvonne Nguyen’s ownership of a grocery store

NYLIFE Securities allegedly also filed a fraud report with the California Department of Insurance.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 3270

FINRA Rule 3270 requires brokers to disclose and receive approval for any business activities they engage in outside their firm, including any compensation they expect to receive.

Other business activities

Yvonne Nguyen’s detailed BrokerCheck report lists one outside business activity: she is the owner of a rental property in San Jose, California.

Background Information

Yvonne Nguyen 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

She previously worked for NYLIFE Securities (CRD#:5167).

Kurta Law Can Help

If you worked with Yvonne Nguyen 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.