BROKER REPORT: Brett Baffa

exchange-cross-rates-1241602-300x200Malecki Law’s team of investment fraud attorneys are interested in hearing from investors who have complaints regarding broker Brett A. Baffa. Mr. Baffa was most recently licensed through NYLife Securities before being terminated by the firm, per industry records.

According to his BrokerCheck report maintained by the Financial Industry Regulatory Authority (“FINRA”), Mr. Baffa has been the subject of two employment separations after allegations and a regulatory inquiry.

Mr. Baffa’s FINRA records indicate that in 2006, Mr. Baffa was “discharged” by J.P. Turner & Co, LLC for “failure to follow principal’s instructions; use of unapproved correspondence that included price predictions.”

In 2008, Mr. Baffa was fined $500 and directed “to cease and desist from regulatory violations” in connection with allegations Mr. Baffa violated Sec. 36B-6(a) of the Conn. Uniform Securities Act., per FINRA.

NYLife Securities “discharged” Mr. Baffa in 2015 according to his BrokerCheck. FINRA Records indicate that “Mr. Baffa was terminated after a review of his business practices raised concerns, among other things, that he may have: (1) failed to properly disclose life insurance replacements in accordance with company rules and state insurance regulations; (2) reused and re-dated bank authorization forms that were previously signed by clients; (3) submitted a traditional life insurance application which included inaccurate information about the insured’s occupation and income.”

The attorneys at Malecki Law are regularly contacted by and regularly represent individuals who have lost money in connection with inappropriate securities transactions and recommendations of financial advisors/stockbrokers. We have handled numerous cases involving unsuitable investment recommendations and other types of broker misconduct.