David Michael Webb of San Antonio Texas a stockbroker currently registered with NYLife Securities LLC is the subject of a customer initiated investment related written complaint which settled on June 8, 2018 to resolve allegations that the customer was advised to utilize the customer’s American Equities funds for the purchase of a variable annuity that was not suitable for the customer.
Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms that on June 30, 2015, another customer filed an investment related complaint involving Webb’s activities where the customer requested $6,640.96 in damages supported by accusations that Webb failed to apprise the customer about tax obligations pertaining to the use of variable annuity proceeds for the purchase of a life insurance policy.
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