ERIC LEE LYON is currently employed as a Broker and/or Investment Adviser at NATIONAL SECURITIES CORPORATION located at 2424 NORTH FEDERAL HWY, SUITE 400, BOCA RATON, FL, 33431.
ERIC LEE LYON has worked at NATIONAL SECURITIES CORPORATION since February 05, 2004
Disclosure History
ERIC LEE LYON has 8 Disclosure Event(s).
Date: March 31, 2003 Category: Customer Dispute Allegations: CLIENTS CLAIMED THAT THE FA SUGGESTED THAT THEY PURCHASE A SCUDDER GATEWAY PLUS VARIABLE GATEWAY ANNUITY FOR THEIR TRUST ACCOUNT IN MARCH 2002 AND THAT AT THE TIME THE SUGGESTION WAS MADE THE FA TOLD THEM THAT WHILE THE INTEREST MAY VARY THE PRINCIPAL WOULD ALWAYS REMAIN THE SAME. THE CLIENTS FURTHER CLAIM THAT THE FA TOLD THEM THAT IF THE ISSUING INSURANCE COMPANY WENT OUT OF BUSINESS THE STATE OF FLORIDA HAD A FUND TO REIMBURSE POLICY HOLDERS FOR ANY LOSSES. THE CLIENTS CLAIM THAT THE STATEMENTS MADE BY THE FA WERE NOT ACCURATE. THE CLIENTS CLAIM THAT THEIR PRINCIPAL HAS GONE DOWN AND THEY WANT THE ISSUE RESOLVED. ALTHOUGH NO DAMAGES WERE SPECIFIED BY THE CLIENTS, THE PRINCIPAL VALUE OF THEIR ANNUITY HAS DECLINED BY APPROXIMATELY $16,840. Damage Amount Requested: $16,840.00 Broker Comment: A LETTER WAS SENT TO THE CLIENTS ON APRIL 24, 2003 DENYING THE COMPLAINT. THE FA DENIED TELLING THE CLIENTS THAT WHILE THE INTEREST MAY VARY WITH RESPECT TO THE SCUDDER GATEWAY PLUS VARIABLE ANNUITY THE PRINCIPAL WOULD ALWAYS REMAIN THE SAME. THE FA ALSO DENIED TELLING THE CLIENTS THAT IF THE ISSUING INSURANCE COMPANY WENT OUT OF BUSINESS THE STATE OF FLORIDA HAD A FUND TO REIMBURSE POLICY HOLDERS FOR ANY LOSSES. THE FA EXPLAINED ALL OF THE RISKS, FEATURES, CHARACTERISTICS, FEES, EXPENSES, ETC. ASSOCIATED WITH INVESTING IN THE ANNUITY TO THE CLIENTS.
Date: November 13, 2002 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT HE BELIEVED HE WAS BUYING FIXED ANNUITY, NOT VARIABLE ANNUITY ON 4/3/02 1035 TRANSFER. Damage Amount Requested: $21,000.00 Broker Comment: CLAIM DENIED. BROKER FULLY EXPLAINED VARIABLE ANNUITY BOTH WITH CLIENT AND WITH CLIENT'S CPA. HE MET WITH CLIENT OFTEN AFTER SALE OF ANNUITY TO GO OVER EACH STATEMENT AND DISCUSS PERFORMANCE.
Date: June 04, 2002 Category: Customer Dispute Allegations: CLIENT ALLEGES FA AND FIRM SOLICITED TRANSACTIONS IN UNSUITABLE SECURITIES RESULTING IN DAMAGES OF $640,500.00. Damage Amount Requested: $640,500.00 Settlement Amount: $190,000.00
Date: December 12, 2001 Category: Customer Dispute Allegations: CLIENTS ALLEGE UNSUITABILITY CLAIMING BONDS INVESTED IN WERE TOO SPECULATIVE FOR THEIR INVESTMENT GOALS. Damage Amount Requested: $50,000.00 Settlement Amount: $60,750.00 Broker Comment: ARBITRATION ALLEGATIONS: CLIENT ALLEGS MISREPRESENTATION CONCERNING MUNICIPAL AND CORPORATE FIXED INCOME SECURITIES. ALLEGED DAMAGES OF $93,623.00.**MATTER SETTLED PRIOR TO ARBITRATION**
Date: December 22, 1999 Category: Customer Dispute Allegations: CUSTOMER ALLEGES UNAUTHORIZED PURCHASE OF NIKE AND PEOPLESOFT, AS WELL AS MISREPRESENTATION WITH REGARD TO THE PROPECTS OF CLARION COMMERCIAL HOLDINGS. SEEKS DAMAGES OF $114,424. Damage Amount Requested: $114,424.00 Settlement Amount: $20,000.00 Broker Comment: FOR BUSINESS REASONS AND WITHOUT ADMITTING ANY LIABILITY ON BEHALF OF THE FIRM, THIS MATTER WAS SETTLED IN THE AMOUNT OF $20,000.
All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.
A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.
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