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Robert W Pearce
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Mr. Pearce has tried, arbitrated and mediated numerous disputes involving complex securities, commodities, administrative, contract, commercial, business tort and employment law issues for over 30 years. He has represented hundreds of clients in Federal and state courts (trial and appellate) as... More
My company:
The Law Offices of Robert Wayne Pearce, P.A.
My blog:
The Investor's Rights Law Blog
  • RANDOLPH NG LEONG BANNED BY FINRA FOR FORGING CUSTOMER SIGNATURES ON CHECKS AND INSURANCE FORMS 0 comments
    Apr 23, 2013 12:10 PM

    Randolph Ng Leong, formerly with New York, New York based NYLIFE Securities LLC, submitted a letter of acceptance, waiver, and consent in which Mr. Leong consented to sanctions and to the entry of findings that he used a customer's checkbook to write himself a check for $900. Mr. Leong forged the customer's signature on the check, deposited the check into his account, and used the money to pay part of the amount due on his monthly mortgage loan, without the customer's authorization to write the check and sign it. FINRA's findings further stated that Mr. Leong also signed customers' names to life insurance applications without their consent. In addition, findings stated that Leong allowed an applicant for insurance to forge the signature of the applicant's mother on the back of the insurance application. Mr. Leong, of Troy, Michigan, was banned from association with any FINRA member in any capacity.

    Broker-dealers must establish and implement a reasonable supervisory system to protect customers from broker misconduct. If broker-dealers do not establish and implement a reasonable supervisory system, they may be liable to investors for damages flowing from the misconduct. Therefore, investors who have suffered damages due to Mr. Leong's fraudulent activity can bring forth claims to recover losses against NYLIFE Securities, which should have prevented Mr. Leong from committing the described illegal activity.

    Have you suffered losses in your NYLIFE Securities LLC brokerage account? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce is actively investigating and accepting clients with valid claims against NYLIFE Securities LLC stockbrokers who may have engaged in misconduct and caused investors losses.

    The most important of investors' rights is the right to be informed! This Investors' Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 30 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to protecting investors' rights throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at pearce@rwpearce.com for answers to any of your questions about this blog post and/or any related matter.

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