Broker Alfred Kai Kwong Chan, NI Advisors in Oakland, CA
The White Law Group is continuing its investigation involving financial advisor Alfred Chan and the liability his former employers may have for failure to properly supervise him.
According to public records on the Financial Industry Regulatory Authority (FINRA) website, the regulator suspended financial advisor Alfred Kai Kwong Chan for six months and fined him $10,000 after he allegedly sold indexed annuities with an approximate value of $2.5 million through an outside business activity without properly disclosing the sales or his compensation from the sales to his member firm.
FINRA’s findings reportedly stated that Chan also “distributed a newspaper advertisement in connection with seminars that he conducted that lacked adequate risk disclosure and was not approved by the firm.”
According to his broker profile, Chan was reportedly registered with NI Advisors in Oakland, CA from 2013 until 2016. He has two customer complaints reportedly filed against him, according to FINRA. He is not currently registered as a broker, according to his broker profile.
If you are concerned about your investments with Alfred Kai Kwong Chan, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.