Investment fraud allegations are serious matters that require careful scrutiny and investigation. One such case is currently being investigated by the national investment fraud law firm, Haselkorn & Thibaut. The firm is investigating a case involving John Rabulan, a former broker with NYLIFE SECURITIES LLC (CRD 5167). The seriousness of the allegation is underscored by the fact that Rabulan failed to respond to a FINRA request for information.
The Seriousness of the Allegation and Case Information
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The allegation against John Rabulan is indeed serious. According to the FINRA CRD number 6946631, Rabulan failed to respond to a FINRA request for information. As a result, he was suspended from associating with any FINRA member firm in all capacities on October 2, 2023, as per FINRA Rule 9552. If Rabulan fails to request termination of the suspension within three months of the Notice of Suspension, he will be barred from associating with any FINRA member in all capacities on December 11, 2023.
Rabulan was associated with NYLIFE SECURITIES LLC (CRD 5167) from July 22, 2019, to September 1, 2022. It is important to note that Rabulan was a broker, not an investment advisor, during his tenure with the firm.
Explanation in Simple Terms and the FINRA Rule
In simpler terms, John Rabulan is accused of not responding to a request for information from the Financial Industry Regulatory Authority (FINRA). This is a serious violation of FINRA Rule 9552, which requires brokers and their firms to provide requested information promptly. Failure to do so can result in suspension and eventual barring from associating with any FINRA member firm.
According to the rule, if Rabulan does not request termination of the suspension within three months of the Notice of Suspension, he will automatically be barred from associating with any FINRA member firm. This means he will not be able to work in any capacity with firms regulated by FINRA.
Why It Matters for Investors
Investors should be concerned about these allegations because they involve a lack of transparency and cooperation with regulatory authorities. This can potentially indicate a risk of misconduct or malpractice. Investors who worked with John Rabulan during his time at NYLIFE SECURITIES LLC may want to review their investments and seek legal advice if they suspect any irregularities.
Haselkorn & Thibaut, with over 50 years of experience and a 98% success rate, offers free consultations to clients and can help investors understand their rights and potential remedies. They operate on a “No Recovery, No Fee” policy, which means clients do not pay unless they recover their losses.
Red Flags for Financial Advisor Malpractice and How Investors Can Recover Losses
Investors should be vigilant for red flags of financial advisor malpractice, including lack of communication, unexplained losses, and irregularities in account statements. If investors suspect malpractice, they should seek legal advice promptly.
Investors who believe they have been victims of investment fraud or broker misconduct can seek help through FINRA Arbitration. Haselkorn & Thibaut specializes in this area and has successfully recovered financial losses for investors. Investors can contact them for a free consultation at their toll-free number, 1-800-856-3352.
Haselkorn & Thibaut has offices in Florida, New York, North Carolina, Arizona, and Texas, and is currently investigating the allegations against John Rabulan and NYLIFE SECURITIES LLC.
