• December 17, 2019
• CUSO Financial Services

Gerald T. Coyne (CRD # 4589061) was a former Financial Advisor at CUSO Financial Services in Harrisburg, PA. Gerald Coyne previously worked at Community Investment Services, CCO Investment Services, UVest Financial Services Group, Citizens Investment Services, and NYLife Securities.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on December 10, 2019, FINRA barred Gerald Coyne from acting as a broker or associating with a brokerage firm for refusing to “appear for FINRA on-the-record testimony requested in connection with its investigation into whether Coyne made misrepresentations, omissions, and unsuitable recommendations of variable annuities to customers using their rollover funds from their state retirement accounts.”

For a copy of the FINRA sanction, click https://www.finra.org/sites/default/files/fda_documents/2019061332701%20Gerald%20T.%20Coyne%20CRD%204589061%20AWC%20va.pdf.

Gerald Coyne is also the subject of a February 2019 customer complaint alleging “that the former CFS representative misrepresented material features and return potential for variable annuities purchased during years 2013-2017.” The matter settled for $164,000.

For a copy of Gerald Coyne’s CRD, click https://brokercheck.finra.org/individual/summary/4589061#disclosuresSection.

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at 800.931.8452 or by email at mwolper@wolperlawfirm.com.