Michael Norman, a former NYLife Securities broker, was recently the subject of a permanent bar from the securities industry for failing to comply with a regulatory investigation. According to public filings, the regulators were investigating allegations that Norman loaned money to a customer so that the customer could purchase securities.
In addition, NYLife settled a customer complaint in October after a customer alleged that Norman misrepresented investments and failed to disclose associated fees to his customer.
Norman spent 27 years working in the securities industry and was registered with NYLife Securities in Reno, Nevada throughout his career.
Because brokerage firms are responsible for supervising all brokers who are registered with them and they must take steps to ensure that their brokers are abiding by all securities industry rules and regulations, they can be held liable when investors lose money.
If you lost money while investing with Norman, Meyer Wilson would like to hear from you. Time to file your claim may be limited, so we encourage you to contact us right away. Our experienced investment fraud attorneys may be able to help you recoup some or all of your losses.
