RedFlag, Allegation and/or Complaint against DANIEL ROCH FOLEY
Disclosure #1 for DANIEL FOLEY
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- Event Date: 9/23/2002
- Disclosure Type: Customer Dispute
- Disclosure Resolution: Settled
- Disclosure Detail :: Allegations: WITH REGARD TO A VARIABLE LIFE INSURANCE POLICY PURCHASED IN SEPTEMBER 2000 WITH PROCEEDS FROM A TERM LIFE INSURANCE POLICY, THE CUSTOMERS ALLEGE I SOLD THEM A PRODUCT THAT WAS NOT CONGRUENT WITH THEIR INVESTMENT OBJECTIVE OF SHORT-TERM GROWTH. CUSTOMERS REQUEST THEIR POLICY CONVERTED BACK TO HIS ORIGINAL POLICY. UPON REVIEW OF POLICY RECORDS AND DATA, NEW YORK LIFE DID NOT FIND SUFFICIENT EVIDENCE TO SUPPORT THE CUSTOMER’S CLAIMS. NO OFFER OF COMPENSATION HAS BEEN MADE TO THE CUSTOMER. THE CUSTOMER HAS NOW COMMENCED AND NASD ARBITRATION MAKING SUBSTANTIALLY SIMILAR ALLEGATIONS.
- Damage Amount Requested: $11,600.00
- Settlement Amount: $6,500.00
- Arbitration Claim File Detail: 03-08322
- Arbitration Docket Number:
- Broker Comment: THIS MATTER WAS SETTLED IN CONSIDERATION OF THE SUM OF $6500.00 PAYABLE TO THE CUSTOMER.
Should I file a FINRA complaint against brokers like DANIEL ROCH FOLEY?
Many investors (presumably, like yourself) are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who lost money in this fashion may actually be entitled to damages. You may suffer significant losses at the hands of your financial advisors’ misconduct, such as if they misrepresented or failed to disclose the risks associated with a particular investment, recommended frequent trades for the sole purpose of generating commissions, or used high-pressure tactics to make a sale. The rules and regulations of securities laws and FINRA policies are complex, and investment loss claims require an extensive understanding of securities arbitration to achieve the best possible results.
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