Investor Lawsuit Investigation – Suihock Goy
The White Law Group is investigating potential claims involving California financial advisor Suihock Goy, after numerous customer disputes and a prior FINRA regulatory action related to allegations of supervisory failures and unsuitable investments.
According to FINRA’s public records (CRD#: 2821380), Goy is currently registered with NI Advisors in Milpitas, California. His BrokerCheck report lists 13 disclosures, including multiple settled customer complaints and a significant regulatory sanction involving failure to supervise representatives engaged in improper transactions.
Customer Complaints Involving Suihock Goy
From 2022 to 2025, Goy has reportedly been named in at least 10 customer complaints involving unsuitable bond recommendations, supervisory negligence, and alleged failure to follow industry standards. These complaints generally stem from the sale of GWG L Bonds, which became effectively worthless following GWG Holdings’ bankruptcy.
Suihock Goy allegations include:
- Breach of contract and fiduciary duty
- Negligent supervision
- Violations of Regulation Best Interest (Reg BI)
- Misrepresentation and unsuitable concentration of high-risk bonds
Among Suihock Goy reported complaints:
- A January 2023 dispute settled for $225,000 involving a $1 million claim.
- An August 2022 complaint settled for $55,000 related to a $100,000 claim.
- A February 2025 dispute settled for $50,000 after a $150,000 claim for supervisory failures.
Several additional complaints remain pending, with damages requested ranging from $100,000 to $210,000.
Regulatory Action – Failure to Supervise and MSRB Violations
In 2013, FINRA sanctioned Goy for willfully violating MSRB Rules A-12 and G-3. The findings indicated that Goy and his firm failed to properly supervise multiple representatives conducting hundreds of securities transactions through an unaffiliated investment advisory business.
The firm, acting through Goy, was also found to have improperly sold 529 plans without registering with the MSRB, and registered representatives in roles inconsistent with their actual duties. Goy and the firm consented to a $13,750 fine and censure as part of a settlement.
According to FINRA, the violations made Goy subject to statutory disqualification under its By-Laws.
Broker Misconduct Risks and Investor Impact
Supervisory brokers like Goy have a legal duty to oversee the activities of registered representatives to ensure compliance with industry rules. Failure to supervise can allow misconduct to go unchecked—leading to substantial losses for retail investors.
Many of the affected investors in these cases appear to have been sold speculative or unsuitable bond investments that were inappropriate for their financial profiles.
Investor Recovery Options
If you suffered financial losses while working with Suihock Goy or his firm, you may have grounds to file a FINRA arbitration claim to recover damages. The White Law Group is currently reviewing whether NI Advisors failed to meet its supervisory obligations under FINRA rules.
FINRA Arbitration vs. Class Action – What’s the Difference?
Unlike a class action, FINRA arbitration is an individualized process designed to address your specific financial harm. Investors often recover more in arbitration compared to class action cases, and the process tends to be faster and confidential.
Free Consultation
The White Law Group has handled FINRA arbitration claims for investors nationwide. If you believe you were harmed by Suihock Goy’s investment recommendations, call us at 1-888-637-5510 for a free consultation.
Visit us at www.whitesecuritieslaw.com to learn more.
Frequently Asked Questions (FAQs) – Suihock Goy
What were the allegations involving Suihock Goy?
Goy was repeatedly named in customer complaints as the supervising principal for representatives who sold unsuitable bonds—primarily GWG L Bonds. He was also fined by FINRA in 2013 for supervisory failures and MSRB violations.
Can I recover losses if I invested with NI Advisors?
Yes. Investors who suffered losses related to unsuitable bond sales or lack of proper supervision at NI Advisors may be able to recover damages through FINRA arbitration.
How does FINRA arbitration work compared to a class action?
FINRA arbitration is an individual process tailored to your case. It usually moves faster than class actions and may lead to higher individual recoveries.
Last modified: July 9, 2025
