Jon Lewis Sugick – Jon Sugick – Suspended from Securities Industry and Resigned from NYLife Securities LLC – Goodman & Nekvasil P.A., May Recover Investor Losses
Jon Sugick was a licensed financial advisor with NYLife Securities LLC from 2009 to 2016. FINRA reports that Jon Sugick resigned from NYLife Securities LLC on August 3, 2016. NYLife Securities LLC reported to FINRA that Jon Sugick resigned after declining to speak with company representatives investigating whether Jon Sugick engaged in an unapproved outside business activity, which the company previously denied, involving the sale of unapproved commodity products.
Jon Sugick was suspended from the securities and investment banking industry for two months on August 6, 2018. FINRA reports that Jon Sugick consented to the sanction and to the entry of findings that Jon Sugick engaged in two outside business activities without providing his member firm with written notice. The findings stated that Sugick incorporated a limited liability company in April 2015; however, he failed to provide his firm with the required written notice of the company until October 2015, at which time the firm denied Jon Sugick’s request to participate in the outside business activity and instructed him to dissolve or transfer his ownership in the entity. According to FINRA, Jon Sugick disregarded the firm’s instructions, remaining the company’s CEO while he was associated with the firm. In addition, Sugick did not provide written notice to the firm of an activity wherein he referred individuals, including firm customers, to a commodities trading advisor. Those individuals invested with the advisor and ultimately incurred significant losses, while Sugick received approximately $11,000 in referral fees. The findings also stated that Sugick provided an inaccurate response on the firm’s annual compliance questionnaire, attesting that he had disclosed all outside business activities to the firm in writing.
If you lost any money on investments with Jon Sugick, you may be able to recover your losses from NYLife Securities LLC. This is because NYLife Securities LLC had a duty to supervise Jon Sugick.
If you lost money on investments with Jon Sugick and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against NYLife Securities LLC concerning Jon Sugick’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Jon Sugick and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.