James Alan Hawryliak of Rochester New York a stockbroker formerly employed by Lifemark Securities Corp. is referenced in a customer initiated investment related written complaint on March 16, 2017 where the customer sought $28,000.00 in damages based upon allegations that omissions had been made concerning the tax consequences pertaining to the customer’s investment transactions which caused the customer to suffer unwarranted tax liabilities. No one died, and generally unless they undertake to provide a customer tax advice, it is well settled that stockbrokers are not responsible for the provision of tax advice. Taxes are generally the result of profits, and those wishing to change the tax law ought to run for public office.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Hawryliak is referenced in two more customer initiated investment related disputes containing accusations of his misconduct during the time that he was associated with American Freedom Securities and Lifemark Securities Corp.
Particularly, Hawryliak was subject of a customer initiated investment related arbitration claim in which the customer was awarded $148,000.00 in compensatory damages based on Hawryliak being found liable on the customer’s claims including violation of the New York Unfair Trade Practices; violation of the New York Consumer Protection Act; conversion of the customer’s funds; unsuitable securities sales; misrepresentation; negligence; breach of fiduciary duty; violation of federal and state securities laws; and fraud in regard to the customer’s Uniform Commercial Capital, Inc. investments. NASD Arbitration No. 02-07094 (Aug. 26, 2004).
Thereafter, on February 17, 2006, a customer initiated investment related complaint concerning Hawryliak’s conduct was resolved for $58,000.00 in damages supported by allegations that while Hawryliak was associated with Lifemark Securities Corp., he executed unsuitable mutual fund purchases in the customer’s account. National Association of Securities Dealers (NASD) Arbitration No. 04-00147 (Feb. 17, 2006).
Hawryliak has been registered with Royal Alliance Associates, Inc. since November 2, 2018.
