Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Mitchell Panchula (Panchula), previously associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Panchula recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $97,000.00 on December 19, 2024.
Claimant alleges between April 2020 – January 2021, Respondent Panchula made misrepresentations on policy applications that placed the claimant in unsuitable annuity contracts. Claimant alleges general noncompliance with the SEC’s Regulation BI, and that Respondent violated FINRA rules violation of FINRA Rule 2111 and FINRA Rule 2330.
