Recently, Amr Aboulmagd, a former broker, was permanently barred from the industry, according to his Financial Industry Regulatory Authority (FINRA) Letter of Acceptance, Waiver and Consent (AWC). FINRA accused Aboulmagd of making unsuitable recommendations and misrepresentations to customers regarding switches from fixed annuities to variable annuities. He also allegedly failed to appear for his on-the-record FINRA testimony related to allegations regarding the unsuitable recommendations and misrepresentations. Mr. Aboulmagd’s former firm, NYLife Securities in Horsham, Pennsylvania, may be liable for any investment losses you may have suffered because of him. Please call our securities law firm today to speak to an attorney about your options of bringing legal recourse against NYLife Securities in the FINRA arbitration forum. We take cases on a contingency fee basis only, so we only make money if you recover yours. The call is free with no obligation.
Amr Aboulmagd was registered with GSG Securities in Boca Raton, Florida from August 1999 until September 1999, IDS Life Insurance Company in Minneapolis, Minnesota from November 1999 until May 2000, American Express Financial Advisors in Minneapolis from November 1999 until May 2000 and NYLife Securities in Horsham, Pennsylvania from April 2009 until May 2015. He has four customer disputes against him, one of which is currently pending. He has been permanently barred from the industry.