George Ly of Los Angeles, California, a stockbroker registered with Cetera Investment Services LLC, was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $700,000.00 in damages based upon allegations that Ly made unsuitable investment recommendations of Real Estate Investment Trusts (REITs) during the period that Ly was associated with LPL Financial LLC. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-03656 (January 6, 2022).
This is not the first time that Ly has been referenced in a customer initiated investment related dispute concerning Ly’s conduct in the securities industry. FINRA Public Disclosure shows that Ly is also referenced in a customer initiated investment related civil action that was settled for $85,000.00 in damages based upon allegations that Ly made misrepresentations of material fact in connection with the sale of real estate securities when Ly was associated with Cetera Investment Services LLC. Civil Action No. 30-2020-01 132515-CU-FR-CJC (December 14, 2020).
Ly was associated with Cetera Investment Services LLC in Los Angeles, California, as a stockbroker and investment advisor representative from February 25, 2019, to December 11, 2019. Ly has been associated with LPL Financial LLC in La Mirada, California, as a stockbroker and an investment advisor representative since January 9, 2020.
