Feisal Malik Has Been Sanctioned by FINRA

Feisal MalikPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on July 13, 2017 indicate that Pennsylvania-based BestVest Investments broker/adviser Feisal Malik has been sanctioned by FINRA. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Malik (CRD# 2115832).

Feisal Malik has spent 23 years in the securities industry and has been registered with BestVest Investments in Media, Pennsylvania since June 2017. Previous registrations include Signator Investors in Allentown, Pennsylvania; NYLife Securities in Horsham, Pennsylvania; MML Investors Services in Springfield, Massachusetts; Pruco Securities in Newark, New Jersey; and the Prudential Insurance Company of America in Newark, New Jersey. He is registered as a broker and investment adviser in Pennsylvania.

According to his BrokerCheck report, Feisal Malik has been sanctioned by FINRA and was discharged from a former employer.

In September 2016 FINRA sanctioned him following allegations that while “his member firm’s procedures prohibited the sale of equity-indexed annuities (EIAs) not approved by the firm and despite this prohibition, Malik sold unapproved ElAs, valued at approximately $1.3 million, through an entity that was unaffiliated with the firm.” FINRA’s findings state additionally that Mr. Malik “was compensated for the sales of these ElAs, but did not disclose the EIA sales or his compensation to his firm.” He was issued a 3-month suspension and a fine of $5,000.

In 2016 he was terminated from his position at Signator Investors following allegations he “admitted to selling unapproved equity index annuities.”

If you or someone you know has lost money investing with Feisal Malik, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.