Judith A. Johnston – NYLife Securities – Investigation
According to the Financial Industry Regulatory Authority (FINRA) yesterday, the regulator has barred financial advisor Judith A. Johnston from the securities industry.
In the Letter of Acceptance, Waiver & Consent dated March 18, 2019, FINRA states that during its staff’s investigation into multiple customer complaints regarding the sale of variable annuities when Johnston was registered with NYLIFE, Johnston failed to cooperate by not providing on-the-record testimony in violation of FINRA Rules 8210 and 2010. Consequently, she has been barred from associating with any FINRA member at any time.
According to Johnston’s FINRA BrokerCheck report, she was a registered representative with NYLife Securities in Frisco, Texas from October 2009 until October 2016. Johnston has 8 customer complaints listed on her broker report involving sales of variable annuities. She is not currently registered as a broker.
Failure to Supervise
The White Law Group is investigating the liability that Judith Johnston’s employers may have for losses sustained by her clients.
Brokerage firms are required to adequately supervise their registered agents to ensure they are complying with FINRA rules. If it is determined that the broker dealer failed to supervise its agent, they can be held responsible for losses in a FINRA arbitration claim.
If you suffered losses investing with Judith A. Johnston & NYLife Securities, the attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
The foregoing information, which is all publicly available, is being provided by The White Law Group. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group, please visit www.whitesecuritieslaw.com.