Securities Arbitration Lawyers BlogFormer NYLife Securities LLC Broker Amr Aboulmagd Is Permanently Barred from Acting as a Broker
He allegedly misrepresented information regarding both fixed and variable annuities to customers who suffered financial losses as a result
While the Financial Industry Regulatory Authority (FINRA) permanently barred former NYLife Securities LLC broker Amr Mostafa Aboulmagd in October 2016, additional complaints continue to be filed against him.
With a total of four customer disputes lodged against him, Aboulmagd was barred by FINRA due to his failure to appear for on-the-record testimony requested by the regulatory body in connection to an investigation into allegations of misrepresentation and making unsuitable recommendations to customers regarding switches from a fixed annuity to a variable annuity.