JACQUELINE C OTTO is currently employed as a Broker and/or Investment Adviser at NYLIFE SECURITIES LLC located at 12812 OLD GLENN HWY, #C-1, EAGLE RIVER, AK, 99577-7558.
JACQUELINE C OTTO has worked at NYLIFE SECURITIES LLC since March 16, 2001
Disclosure History
JACQUELINE C OTTO has 2 Disclosure Event(s).
Date: May 26, 2015 Category: Customer Dispute Allegations: THE CUSTOMER ALLEGES THAT THE RECOMMENDATION TO PURCHASE TWO VARIABLE ANNUITIES IN OR AROUND JULY 2014 WAS NOT SUITABLE GIVEN HIS INCOME REQUIREMENTS. HE FURTHER ALLEGES THAT THE FEES ASSOCIATED WITH THE POLICIES WERE NOT FULLY EXPLAINED TO HIM AND REQUESTS A FULL REFUND WITHOUT PENALTY. Damage Amount Requested: $61,662.38 Settlement Amount: $96,147.00 Broker Comment: THE COMPANY INITIALLY DEFENDED THE MATTER ON 07/01/2015. IN THE INTEREST OF CUSTOMER RELATIONS THE COMPANY SUBSEQUENTLY OFFERED TO CANCEL BOTH VARIABLE ANNUITY CONTRACTS WITH A REFUND OF PREMIUMS PAID. UPON RECEIPT OF THE CUSTOMER'S ACCEPTANCE OF OFFER THE RESOLUTION STATUS DATE HAS BEEN UPDATED TO REFLECT 6/7/16 ACCORDINGLY.
Date: October 10, 2001 Category: Customer Dispute Allegations: WITH REGARD TO TWO MUTUAL FUND ACCOUNTS OPENED IN AUGUST 2001, THE CUSTOMER ALLEGES THAT THE INVESTMENT ACCOUNTS HER FUNDS WERE PUT INTO WERE NOT IN KEEPING WITH HER "CONSERVATIVE NATURE". THE CUSTOMER REQUESTS TO HAVE THE TRANSACTIONS REVERSED WITH ALL FEES REFUNDED. THE AMOUNT BELOW REFLECTS THE TOTAL AMOUNT INVESTED. Damage Amount Requested: $475,000.00 Settlement Amount: $475,000.00 Broker Comment: UPON REVIEW OF POLICY RECORDS, NEW YORK LIFE OFFERED TO RESCIND THE MUTUAL FUND ACCOUNTS AND REFUND $475,000 TO THE CUSTOMER. THE CUSTOMER ACCEPTED THE OFFER.
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