Jon Sugick, formerly with NYLife Securities, Suspended Two Months

Have you lost money with financial advisor Jon Sugick of Southfield, Michigan?  We are continuing our investigation into allegations made by FINRA (the Financial Industry Regulatory Authority), against Jon L. Sugick. FINRA suspended Sugick from the securities industry for two months and fined him $5,000.  FINRA was investigating allegations that Sugick engaged in an undisclosed outside business activity without notifying his former brokerage firm, NY Life Securities.

It was alleged that Sugick created an LLC to conduct commodities trading, and that he received $11,000 for referring customers to a commodities trader.  FINRA also alleged that those customers had significant losses in the commodities investments.

Jon Sugick was a financial advisor and registered representative of NYLife Securities from January 2009 to August 2016.  He worked at offices in Southfield and Detroit, Michigan.  Sugick has been the subject of at least one customer complaint, and he also filed for bankruptcy in 2016.

Brokerage firms like NYLife Securities have a responsibility to adequately supervise all representatives who are registered through their firm.  Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Ann Arbor, Michigan; Denver, Colorado; and Seattle, Washington.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Michigan.  Attorney Aaron Israels is licensed to practice law in Michigan, he grew up in Holland, Michigan and also lived for many years in the Detroit area.  We have also represented a number of victims who had their money stolen by Michigan brokers, including Christopher Tolmacs.  Our attorneys have represented over one thousand investors against many brokerage firms in the past, including NY Life Securities.

Click to view:  Sugick, Jon FINRA AWC

Click to view:  Sugick, Jon BrokerCheck 7.31.18

If you lost money with Jon Sugick, or NYLife Securities, please CONTACT US at 720-599-3505 for a free evaluation of your case.

Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency.  Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency.  All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact.  This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice.  Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis.  In contingent representation, clients may still be liable for costs.