Jeffrey Arthur Perryman, a former stockbroker with NYLIFE Securities LLC in Johnstown, Colorado, was barred by Financial Industry Regulatory Authority (FINRA) on October 7, 2024, and consented to the sanction based upon his refusal to provide information requested by FINRA during an investigation into potential undisclosed outside business activities. Specifically, the investigation focused on allegations that Perryman charged a customer undisclosed fees for services without informing his firm. Letter of Acceptance, Waiver, and Consent (AWC) No. 2024082109701.
According to FINRA Public Disclosure, other customers have initiated disputes against Perryman, including on September 9, 2024, where a customer claimed they did not sign certain account transaction forms. The customr is seeking damages exceeding $5,000. This case remains unresolved. Another dispute was filed on July 17, 2024, alleging that variable annuities purchased in June 2021 provided no benefit to the customer. The customer requested account closures and a waiver of surrender charges. The securities broker estimated that the damages to exceed $5,000, and the matter is still pending.
On April 29, 2024, customers alleged improper liquidation and repurchasing of Class A mutual fund shares starting in 2017. They also claimed Perryman sold them Variable Universal Life (VUL) policies that exceeded their insurance needs while charging inappropriate advisory fees. The customers seek rescission of the policies and a refund of advisory fees, with damages exceeding $5,000. This dispute remains unresolved.
On June 26, 2024, another customer alleged that Perryman misled them in 2022 to purchase mutual funds to fund life insurance premiums. On September 23, 2024, NYLIFE Securities LLC resolved the matter by paying the customer $81,462.40 in a settlement.
In another complaint filed on May 28, 2024, a customer alleged that life insurance and annuity policies purchased between October 2013 and April 2023 were misrepresented as liquid. They claimed loans were used to purchase new policies. On November 6, 2024, NYLIFE Securities LLC settled the matter for $118,273.75.
Perryman’s employment with NYLIFE Securities LLC ended on April 12, 2024, when he was permitted to resign. The securities broker dealer alleged that he exceeded the scope of his approved activities as an investment adviser representative, including charging unauthorized fees.
Perryman was registered with NYLIFE Securities LLC from April 11, 1990, until May 9, 2024.
