Gail Ann Kincannon of Austin Texas a stockbroker formerly registered with NYLife Securities LLC is referenced in a customer initiated investment related written complaint on July 30, 2018 in which the customer requested $39,388.32 in damages supported by accusations that Kincannon had misrepresented the holding period and fees pertaining to a variable annuity purchased by the customer on April 18, 2017.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Kincannon is referenced in two more customer initiated investment related disputes pertaining to allegations of her violative conduct during the time that she was associated with NYLife Securities LLC. In particular, on June 28, 2004, a customer initiated investment related complaint regarding Kincannon’s activities was settled for $52,465.00 in damages founded on accusations that Kincannon failed to inform the customer about the risks and surrender charges associated with the customer’s insurance contract purchases. Moreover, the customer contended that Kincannon failed to make decisions that aligned with the customer’s financial status and objectives for investing.
Moreover, a customer initiated investment related civil action filed in the Travis County, Austin Texas Judicial District Court that involved Kincannon’s conduct has been resolved for $12,000.00 in damages based upon allegations that the customers were not provided correct information regarding their ability to surrender the policies and redeem the cash value; the actual surrender values and cash values were apparently far apart. Civil Action No. D-1-GN-09-001405 (Mar. 25, 2010).
Kincannon has been employed by NYLife Securities since July 7, 1993.
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