March 2019- Frisco, Texas
We are currently investigating former NY Life Securities financial advisor Judith Adele Johnston .
According to publicly available records , Judith Johnston , discloses a recent regulatory matter, a pending customer dispute and 7 prior customer disputes.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In 3/2019, FINRA permanently barred Judith Johnston from the securities industry after she refused to appear for FINRA on the record testimony in connection with an investigation into multiple customer complaints regarding the sale of annuities.
Six of the prior customer complaints have been resolved with cash settlements being paid to the customers. In one of the cases a customer of NY LIfe alleged that Johnston was complicit in helping her husband deceive the customer into believing her husband was associated with her firm and licensed to sell variable annuities. Due to Johnston’s complicity, the customer agreed to her husband’s recommendation that they take out a $1.4 million loan to purchase an annuity, resulting in losses. That case was recently resolved for $445,161.
In the currently pending matter, a customer of NY Life Securities alleges they were misled about fees associated with variable annuities and variable universal life policies purchased from Johnston and her husband, who they were led to believe was employed by NY Life.
Judith Johnston was employed by NY Life from 10/2009-10/2018. She discloses business affiliations with Tom Sorrels Insurance Agency, Houston J2M LLC, Palo Pinto Agency, M&M Legacy Enterprises, Johnston Legacy LLC, Johnston & Mize LLC, Grande Agency, LLC, Wedgewood Insurance Agency, and Yancey Insurance Agency.
If you have questions about annuities, variable life policies or other investments purchased from former NY Life Securities broker Judith Johnston , contact us for a no charge consultation to learn how you may be able to recover damages for losses to your account through FINRA arbitration.
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.
Florida-561 391 1900