Regulator Bar Jeffrey Perryman after Allegations of Undisclosed OBAs
According to public records on October 7th, 2024, The Financial Industry Regulatory Authority (FINRA) has reportedly barred financial advisor Jeffrey Perryman from working in the securities industry.
Without admitting or denying the findings, Perryman reportedly refused to provide information and documents requested by FINRA in connection with its investigation into his potential undisclosed Outside Business Activities, including allegations of charging fees to a customer for services that he failed to disclose to his member firm.
Outside Business Activities
FINRA rule 3270 requires that registered representatives disclose any Outside Business Activities (OBAs) that they engage in. Why should you care if your broker is involved in an OBA?
The rule is designed to protect investors by ensuring that registered individuals do not engage in activities that may compromise their professional responsibilities, cause conflicts of interest, or divert their attention from their primary duties to their clients.
FINRA BrokerCheck – Jeffrey Perryman
According to his FINRA broker report, Perryman has six customer complaints on his record. Allegations include misrepresentation involving variable annuities, among others. His broker report indicates the following business activities among others: insurance broker for Legacy and Wealth Professionals LLC.
Perryman was reportedly registered with the following firms during his career.
04/11/1990 – 05/09/2024 NYLIFE SECURITIES LLC (CRD#:5167) JOHNSTOWN, CO
01/12/1990 – 02/13/1990 WADDELL & REED, INC. (CRD#:866) OVERLAND PARK, KS
The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.
Investors can use the tool to verify whether a broker or brokerage firm is registered with FINRA, as well as to review their employment history, licensing status, and any regulatory actions or complaints filed against them.
Regulation Best Interest
Under the “Regulation best interest” standard, broker-dealers are obligated to perform due diligence when evaluating any investment. If your financial advisor fails to perform due diligence on an investment before recommending it to you, they could be held liable for investment losses.
If your advisor unsuitably recommended an investment offering and you lost money, the securities attorneys at The White Law Group may be able to file a complaint for you. You may be able to recover losses by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.
Free Consultation with National Securities Attorneys
If you have suffered investment losses with Jeffrey Perryman and NYLife Securities, the securities attorneys at the White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
About the White Law Group
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to helping investors in claims in all 50 states against their financial professional or brokerage firm. Since the firm launched in 2010, it has handled over 700 FINRA arbitration cases.
Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among many others.
With over 30 years of securities law experience, The White Law Group has the expertise to help investors to recover their securities fraud losses.
Last modified: November 5, 2024
