Kari M. Bracy Broker Investigation

Financial Advisor Kari M. Bracy, NY Life Securities in Jacksonville Beach, FL

Are you concerned about investments with Kari M. Bracy in Jacksonville Beach, FL? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

According to public records, the Financial Industry Regulatory Authority (FINRA) has reportedly barred Bracy from working in the securities industry after she allegedly refused to appear for on-the-record testimony as requested by FINRA in connection with its investigation of Bracy’s sale of a Future Income Payments, LLC’s structured cash flow investment, comprised of pension streams.

The now defunct Future Income Payments (FIP), is an illiquid, high commission investment, under investigation in more than 25 states. Estimations of investors’ losses are in the $100 million dollar range.

According to his FINRA BrokerCheck report, Bracy was reportedly affiliated with NY Life Securities in Jacksonville Beach, FL for 10 years. Her broker profile indicates that she has 1 settled customer complaint from 2018, “Claimant alleges that in December 2017 her investment in Future Income Payments, LLC (FIP), a private securities transaction, was misrepresented as a conservative and safe investment with a 7.5% annual return for ten (10) years.”

The damage amount requested was $142,697.27 and reportedly settled for $80,000. Bracy reportedly denies the allegations in the statement of claim.

Investigating Potential Lawsuits

The White Law Group is investigating potential lawsuits regarding the liability that Bracy’s employers may have for failure to properly supervise her.

When brokers violate securities laws, such as making unsuitable investments, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee. We represent investors in FINRA arbitration claims in all 50 states, including Florida. Our attorneys have recovered millions of dollars from many brokerage firms in the past.

If you are concerned about your investments with Kari M. Bracy, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.

For more information on The White Law Group, and its representation of investors, please visit whitesecuritieslaw.com.