Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on December 4, 2018 indicate that Nevada-based NYLife Securities broker Michael Norman has been sanctioned by FINRA in connection to alleged rule violations and barred from acting as a broker or otherwise associating with a broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Norman (CRD# 2092589).
Michael Norman has spent 27 years in the securities industry and was most recently registered with NYLife Securities in Reno, Nevada (1990-2018). He has no previous registrations. He has passed three securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on November 16, 1990; SIE (Securities Industry Essentials Examination), which he obtained on June 25, 2018; and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on October 24, 1990. He is currently not registered with any state or firm.
According to his BrokerCheck report, he has received one customer complaint and one regulatory sanction.
In November 2018 FINRA sanctioned him in connection to allegations he failed to provide FINRA with requested documents and information in connection to an investigation concerning allegations he provided a customer with a loan so the customer would buy securities. He was consequently barred from acting as a broker or otherwise associating with a broker-dealer firm.
In May 2018 a customer alleged Michael Norman, while employed at NYLife Securities, misrepresented the rate of return on an investment, failed to disclose fees associated with an investment, and provided unsuitable advice regarding a mutual fund transaction executed in or around February 2016. The complaint settled in October 2018 for more than $92,000.
If you or someone you know has lost money investing with Michael Norman, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.