Category Archives: AXA Equitable Life Insurance

Brian M. White -Former Hornor/Townsend/Kent Broker-Barred from Securities Industry-Woodlands, TX

June 30, 2015

A FINRA Department of Enforcement Hearing Panel made a decision that Brian Michael White engaged in undisclosed outside business activities and  provided false testimony to FINRA staff in connection with an investigation.

He was barred in all capacities from associating with any FINRA member and ordered to pay hearing costs.

According to the decision White engaged in an undisclosed business activity though an entity named SMW Ventures, LP, a Texas limited partnership.

Disciplinary Proceeding No. 2012033128703

According to  FINRA records, White was registered with Hornor, Townsend & Kent in Houston 9/2012-10/2013. Prior to that he was registered with AXA Advisors in the Woodlands, Texas, 12/2008-8/2011.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Houston Couple Awarded $1.1 Million Against Broker Terry Chilton for Losses on Annuities

May 15, 2015-Houston, Texas

A FINRA (Financial Industry Regulatory Authority) arbitration panel in Houston, Texas, awarded over $1.1 million to a couple who filed a claim alleging that the annuities they had been sold were too risky and that their repeated demands to reduce risk in their retirement portfolio were ignored. McCorquodale vs. AXA Advisors, AXA Equitable Insurance Company, Terry Wayne Chilton, IMS Securities, Jackson National Life Insurance, et al, Case Number 13-02390.

Claimants settled their claims with AXA, IMS Securities and Jackson Life and the hearing proceeded against the broker Terry Chilton and his companies. In addition to the $1.1 million in compensatory damages, claimants were also awarded expert witness costs of $30,000.

If you believe you have been sold annuities that are too risky for your portfolio, contact us to discuss your options for recovery of losses.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

AXA Equitable Hit with $20 Million Fine Over Annuities

By Robert H. Rex, Esq. 

In March 2014, the New York Department of Financial Services fined Axa Equitable Life Insurance Co. $20 million after the regulator accused AXA of limiting returns for legacy variable annuity clients without providing proper notice to the annuity holders. 

The regulator found that the changes AXA made to older annuity polices limited gains that a client would have received prior to the change and lowered the value of certain guaranteed benefits. 

If you purchased an annuity from AXA or any other brokerage firm and feel that you were misled as to the nature of the investment, call to discuss your legal rights. 

Nationwide representation.


561 391 1900