NYLIFE Securities Inc.

NYLIFE Securities Inc. (CRD #5167, New York, New York) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $200,000. Without admitting or denying the allegations, the firm consented to the described sanctions and to the entry of findings that it failed to adequately supervise the activities of a registered representative who violated the firm's policy involving unapproved advertising and sales material and outside business activities. NASD found that the firm failed to conduct adequate inspections of activities in a branch office. The findings also stated that the firm's review and approval of variable annuity and mutual fund transactions was deficient in that the firm failed to aggregate transactions and consider all customer holdings when reviewing individual transactions, thereby allowing a registered representative to circumvent the financial tests established by the firm. (NASD Case #E052004010401)

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Contact Information

The Law Office of David Liebrader, Inc.


601 S. Rancho Drive, Ste.#D-29
Las Vegas, NV 89106
Phone: 702-380-3131
Fax: 702-380-3102
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