Narith Long: Investor Complaints Against Ex-NYLife Broker
Publicly available records maintained by the Financial Industry Regulatory Authority (FINRA) and accessed on October 19, 2021 reflect that former California-based NYLife and Northwestern Mutual broker Narith Long has been suspended by FINRA and named in numerous customer disputes. Former customers who have complaints regarding Mr. Long (CRD# 6598152) are encouraged to call MDF Law at 800-767-8040 to discuss their recovery options.
Long Was Registered with NYLife and Northwestern in Glendale, CA
Narith Long spent two years in the securities industry and was most recently registered with NYLife Securities in Glendale, California from 2019 until 2020. He was previously registered with Northwestern Mutual Investment Services in Long Beach, California from 2018 to 2019. He has passed three securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), obtained on April 30, 2018; SIE (Securities Industry Essentials Examination), obtained on October 1, 2018; and Series 6 (Investment Company Products/Variable Contracts Representative Examination), obtained on May 25, 2018. He currently holds no state securities licenses.
Unauthorized Use of Client Login Credentials
According to his BrokerCheck report, he has received one regulatory sanction, four settled customer complaints, and two pending customer complaints. Records show he was also discharged from his position at NYLife Securities in December 2020 in connection to allegations of unauthorized trading. According to this disclosure, he allegedly advised his customers to open brokerage accounts at another firm, and then “using their log in information, he traded securities held in those brokerage accounts.”
In September 2021 FINRA sanctioned him in connection to findings he failed to respond to the regulator’s requests for information. He was consequently suspended from associating with any FINRA member in any capacity until he either provides the requested information or the suspension converts to a bar.
Customers File Complaints Against Narith Long
In July 2021 a customer alleged that Narith Long, while employed at NYLife Securities, recommended she open a brokerage account with an outside firm, in which he made aggressive and speculative discretionary trades that caused her to suffer losses. The complaint settled for $16,900.
In June 2021 a customer alleged that Narith Long, while employed at NYLife Securities, executed discretionary trades in a brokerage account he recommended she open at an outside firm, resulting in losses. The complaint settled for $22,500.
In June 2021 a customer alleged that Narith Long, while employed at NYLife Securities, conducted discretionary trades in an outside brokerage account he recommended she open, incurring losses. The complaint settled for $3,720.60.
In May 2021 a party of customers alleged that while at NYLife, he caused them to suffer losses by executing discretionary trades in an outside brokerage account. The customers are seeking $80,000 in damages in the pending complaint.
In 2020 a customer alleged that while at NYLife, he sold investments away from the firm by executing discretionary trades in an outside brokerage account. The complaint settled for $17,120.
In 2020 a customer alleged that while at NYLife, he effected discretionary transactions in an outside brokerage account he advised the customer to open, resulting in losses. The customer is seeking $217,190 in damages in the pending complaint.