INVESTORS: NI Advisors broker Suihock Goy was named in multiple customer disputes following allegations of selling unsuitable investments in GWG-L bonds.
Suihock Goy (CRD: 2821380) is registered as a broker and investment adviser with NI Advisors, where he’s been employed since 2005. Goy was previously registered as a broker with White Pacific Securities from 2003 until 2005.
Goy has three disclosures on his BrokerCheck report.
August 2022 Customer Dispute
Allegations: Client claims unsuitable recommendation, breach of contract, lack of supervision, etc. with $200,000 concentration of GWG L-bonds and $50,000 withdrawal. Client purchased $150,000 of the product during 2018.
Damage Amount Requested: $100,000.00
August 2013 Regulatory Judgment
Initiated By: FINRA
Allegations: FINRA Rule 2010, NASD Rules 1031(A), 1032(D), 2110, 3010, 3040(C), willfully violated MSRB Rules A-12 and G-3(B)(III)(B): Goy and his member firm failed to supervise, provide written approval for, or monitor the registered investment advisory (RIA) activities of its general securities representative (GS) and general securities principal (GP). The representative conducted 1,445 securities transactions through a RIA that was not associated or affiliated with the firm. The firm and Goy permitted representatives to improperly maintain an association with the firm although they did not conduct any securities or investment banking related business. Two representatives weree registered as GSS, whereas another representative was registered as an investment company products/variable contracts representative (IR) with the firm, acting through Goy, even though they were not engaged in the investmentt banking or ssecurities business on behalf of the firm. . . .
Resolution: Acceptance, Waiver & Consent (AWC)
Sanctions: Civil and Administrative Penalty(ies)/Fine(s)
October 2004 Customer Dispute
Allegations: Clients alleged rep failed to follow their instructions and recommended usnuitable investments which resulted in account losses.
Damage Amount Requested: $16,101.00
Settlement Amount: $16,101.22
The Sonn Law Group is currently investigating allegations surrounding Suihock Goy. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.