Securities Arbitration Lawyer Blog
FINRA has barred former NYLIFE Securities LLC broker Daniel Jossen from the securities industry. Mr. Jossen was expelled from the brokerage industry for failing to the provide information requested by FINRA pursuant to Rule 8210, in violation of Rules 8210 and 2010.
If you have lost money with Daniel Jossen, or NYLIFE Securities LLC, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.
FINRA Letter of Acceptance, Waiver, and Consent
Daniel Jossen and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) on June 25, 2021.
According to the AWC, on February 9, 2021, NYLIFE filed a Form U5 terminating Mr. Jossen’s registration, explaining that he was “permitted to resign after it was discovered he solicited business in a jurisdiction in which he was not licensed, misrepresented the terms of variable products and maintained client log-in credentials in an outside brokerage account to process financial transactions.”
On March 31, 2021, FINRA sent Mr. Jossen a request for the production of information pursuant to FINRA Rule 8210. Upon Mr. Jossen’s request, FINRA granted him an adjournment to respond. Mr. Jossen, however, did not provide the information called for by the FINRA request on or before the due date. Through counsel, and by the AWC agreement, Mr. Jossen acknowledged that he received FINRA’s request and would not produce the information requested.
By refusing to produce the information as requested pursuant to FINRA Rule 8210, Respondent violated FINRA Rules 8210 and 2010. FINRA Rule 8210(a)(1) states, in relevant part, that FINRA may require a person subject to its jurisdiction “to provide information orally, in writing, or electronically . . . with respect to any matter involved in [an] investigation.” FINRA Rule 8210(c) further states that no person “shall fail to provide information. . . pursuant to this Rule.” A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010, which requires associated persons to “observe high standards of commercial honor and just and equitable principles of trade.”
Daniel Jossen (CRD#: 5463761)
Mr. Jossen had 13 years of experience in the securities industry. He was registered as a broker with NYLIFE Securities LLC in Bethesda, MD between, June 2011 and February 2021.
Mr. Jossen’s FINRA CRD shows a total of five customer disputes, including one filed on March 25, 2021, which is still pending. The claim states that “customers allege that they were misled into purchasing a Variable Universal Life policy in February 2018. Customers seek the opportunity to surrender the policy without surrender charges as well as a full refund of their financial planning agreement fees.” The other four customer disputes were settled.
How to Recover Losses or Obtain a Free Consultation
If you have lost money with Daniel Jossen, or NYLIFE Securities LLC, contact FINRA arbitration lawyers August Iorio and Jorge Altamirano of Iorio Altamirano LLP at august@ia-law.com, jorge@ia-law.com or toll-free at (855) 430-4010 for a free and confidential evaluation of your account.
Iorio Altamirano LLP is a securities arbitration law firm based in New York, NY. We pursue FINRA arbitration claims nationwide on behalf of investors to recover financial losses arising out of wrongful conduct by financial advisors and brokerage firms.