Kyle Evan Murphy, of Glen Allen, Virginia, a stockbroker formerly registered with NYLife Securities LLC, has been named in a customer initiated investment related written complaint on January 23, 2017, based upon allegations that Murphy failed to apprise the customer regarding penalty free withdrawals from the customer’s variable annuity contract.
Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals that on February 18, 2015, a customer filed an investment related written complaint regarding Murphy’s activities, based upon allegations that Murphy effected variable annuity transactions which were unsuitable for the customer, and made misrepresentations to the customer concerning investment returns. Further, on July 8, 2016, a customer initiated investment related written complaint involving Murphy’s conduct was settled for $25,673.50 in damages based upon allegations that Murphy failed to accurately represent surrender penalties pertaining to the customer’s variable annuity contract.
Murphy’s registration with NYLife Securities LLC ended on February 4, 2016. Subsequently, on August 29, 2016, Murphy was terminated from ClearView Financial, LLC, based upon allegations that he entered into a loan agreement with a firm customer. Since October 17, 2016, Murphy has been registered with Signator Investors, Inc.
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