Stoltmann Law Offices continues to investigate Cecil Nivens, a broker with NYLife Securities in Gastonia, North Carolina. Nivens was recently suspended by the Financial Industry Regulatory Authority (FINRA). Nivens had allegedly recommended that his customers purchase variable universal life (VUL) insurance policies, using the proceeds from the customers’ existing variable annuities to pay for the premiums. This misconduct took place between February 2012 and April 2013. In September 2017, Nivens failed to respond to his complaint against him, and FINRA suspended him from the industry for two years. He was also ordered to disgorge $185,737 in commissions from the VUL sales.
If you lost money with Cecil Nivens, please call our securities law firm for a free consultation with an attorney. We may be able to help you bring a claim against NYLife Securities for not properly supervising Nivens. There is no obligation. We are based in Chicago, Illinois. 312-332-4200.
Nivens was registered with NYLife Securities in Gastonia, North Carolina from May 1991 until February 2014. He has 11 customer disputes against him. He is currently not registered within the industry.
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