Ronnie Lynn Cochran, of Blacksburg, Virginia, a stockbroker registered with NYLIFE Securities LLC, is the subject of a customer initiated investment related complaint filed on July 24, 2023. In this complaint, the customer alleged that Cochran made the unsuitable recommendation of variable annuities when Cochran was associated with NYLIFE Securities LLC. The complaint alleges that customers were advised to distribute variable annuity funds between 2022 and 2023 to fund premiums on separate variable annuities. This allegedly created higher tax liabilities and surrender charges. The complaint was denied.
This is not the first time that Cochran has been referenced in a customer initiated investment related dispute concerning Cochran’s conduct in the securities industry. FINRA Public Disclosure shows that Cochran is also referenced in a customer initiated investment related complaint that was settled on September 9, 2015, for $19,654.68 in damages. The claim alleged that the stockbroker failed to inform the customer about all available options related to the disbursement of death benefit proceeds of her late husband’s variable annuity policy during the time that Cochran was associated with NYLIFE Securities LLC.
Cochran is also referenced in a customer initiated investment related complaint filed on March 7, 2007. In this complaint, the customer requested $164,233.66 in damages based upon allegations that Cochran made misrepresentations in connection with the sale of variable annuities when Cochran was associated with NYLIFE Securities. The customers alleged that they were not informed correctly about tax implications related to a lump-sum settlement and the purchase of a new annuity, resulting in unexpected taxes for 2006. This complaint was denied.
Cochran has been associated with NYLIFE Securities LLC in Blacksburg, Virginia, since April 29, 1999.
