Rakesh Raj Bansal (also known as Rakesh Ransal), of Princeton, New Jersey, a stockbroker registered with NYLIFE Securities LLC, is the subject of a customer initiated investment related complaint filed on October 20, 2023, in which the customer requested compensatory damages based upon allegations that Bansal made the unsuitable investment recommendation of variable annuities when Bansal was associated with NYLIFE Securities LLC.
This is not the first time that Bansal has been referenced in a customer initiated investment related dispute concerning Bansal’s conduct in the securities industry. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Bansal was also referenced in a customer initiated investment related complaint that was settled on November 14, 2017, for $7,401.29 in damages based upon allegations that Bansal engaged in unauthorized trading in mutual funds during the time that Bansal was associated with NYLIFE Securities LLC.
Bansal is also referenced in a customer initiated investment related complaint that was settled on January 11, 2022, for $19,858.63 in damages based upon allegations that Bansal committed forgery of the customer’s signature on fixed annuity paperwork.
Bansal has been associated with NYLIFE Securities LLC in Princeton, New Jersey, since September 30, 1992.
