- August 17, 2023
Lickhai Quach (CRD#: 2804704) is a previously registered Broker.
He entered the securities industry in 1997 and previously worked for Transamerica Financial Advisors, Inc.; World Group Securities, Inc.; and WMA Securities, Inc.
Current And Past Allegations Of Conduct
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in August 2023, FINRA sanctioned Lickhai Quach with a permanent bar from all capacities beginning August 7, 2023. The FINRA sanction states, “Without admitting or denying the findings, Quach consented to the sanction and to the entry of findings that he refused to provide documents and information requested by FINRA in connection with its investigation of the circumstances surrounding his termination from his member firm. The findings stated that the firm filed a Form U5 stating that Quach was permitted to resign while under review by the firm for violating firm policy related to borrowing funds from a client.”
For a copy of the FINRA sanction, click here.
In addition, Lickhai Quach has been the subject of five other disclosures, including customer complaints, liens and employment disclosures:
- March 2023 — “Firm received a customer complaint alleging that the representative borrowed funds and has not repaid client. During the review the representative admitted to borrowing the funds from the client.” Lickhai Quach was permitted to resign from Transamerica Financial Advisors, Inc.
- February 2023 — “Client alleges that the representative borrowed funds and has not repaid client.” The customer dispute was settled for $76,000.
- October 2010 — A civil judgment/lien in the amount of $27,695.38 was levied against Lickhai Quach.
- September 2009 — A civil judgment/lien in the amount of $13,407.57 was levied against Lickhai Quach.
- December 2004 — “CLIENT IS ALLEGING MISREPRESENTATION OF VARIABLE ANNUITY.” The customer dispute was denied.
For a copy of Lickhai Quach’s FINRA BrokerCheck, click here.
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