Securities Arbitration Investment Fraud Lawyers » Investment and Regulatory News » Voya Financial Settles FINRA Arbitration Claim Against For Unsuitable Recommendations

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Gregory Scott Young of Columbia, South Carolina, a stockbroker registered with Voya Financial Advisors Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $40,000.00 in damages based upon allegations that Young made unsuitable recommendations of structured steepener products and CDs when Young was associated with Voya Financial Advisors Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-01799 (February 24, 2020).

FINRA Public Disclosure shows that Young is referenced in four other customer initiated investment related disputes concerning Young’s conduct while associated with securities broker dealers, including J.P. Turner Company LLC and Voya Financial Advisors Inc. On July 25, 2017, a customer filed an investment related FINRA securities arbitration claim involving Young’s conduct in which the customer requested $1,500.00 in damages based upon allegations that Young made misrepresentations of material fact in connection with the recommendation and sale of CDs when Young was associated with J.P. Turner Company LLC. FINRA Arbitration No. 17-01912.

Young was also referenced in a complaint that was settled on October 23, 2018, for $35,000.00 in damages based upon allegations that Young made misrepresentations of material fact in connection with the recommendation and sale of corporate bonds and CDs when Young was associated with Voya Financial Advisors Inc.

On December 19, 2018, a different complaint involving Young’s conduct was settled for $61,685.31 in damages based upon allegations that Young made misrepresentations of material fact to the Voya Financial Advisors Inc. customer.

Young was associated with Voya Financial Advisors Inc. in Blythewood, SC, from May of 2012 to June of 2017. He was also associated with Comprehensive Asset Management and Servicing Inc. in Columbia, SC, from July of 2017 to October of 2017. On October 10, 2017, Comprehensive Asset Management Servicing Inc. permitted Young to resign based upon allegations that Young failed to comply with the securities broker dealer’s policies.