The Financial Industry Regulatory Authority Inc. has barred former NY Life Securities representative Tyrone Pang for failing to appear at a hearing investigating alleged rule violations.
In June 2015, NY Life terminated Mr. Pang’s employment for violating company policy “by accepting a customer’s check made payable directly to himself for a payment of a life insurance premium.”
In Mr. Pang’s BrokerCheck records, he said: “I was asked for a favor to help my client, a family relative, to pay one month’s premium for the client’s policy because the client was out of the country and could not make payment. I was just trying to help.”
After his termination, Mr. Pang joined MML Investors Services this year, where he worked until Finra’s action. He joined NY Life in 2008.
FINRA putting the hammer down in a good way. We can’t have FA’s like this in the industry.