FINRA barred securities broker Alan K. Ngo [CRD: 4273116, Freehold, New Jersey], given the publicly available information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Ngo worked for PFS Investments Inc. from January 2, 2003, to November 25, 2025. See below to learn more about Ngo’s disclosures.
FINRA Sanctioned Ngo For Failing To Comply During Investigation Into Private Securities Transactions
Notably, on May 4, 2026, FINRA issued Case: 2026088818101 sanctioning Alan Ngo. Specifically, Ngo was barred from associating with any FINRA member in all capacities. According to FINRA, Ngo declined to produce documents, answer information requests, and appear for testimony in connection with an investigation into alleged securities-related activities conducted away from his employer.
Investigation Into Alan Ngo Stemmed From PFS Termination Notification About Selling Away
This matter reportedly began after an investor alleged that Ngo solicited a private securities investment outside the scope of his work with PFS Investments Inc. PFS later amended Ngo’s Form U5 to disclose allegations that an investor gave Ngo funds for non-PFS investments, specifically a portfolio of bond funds, and that he had not timely returned funds she requested.
FINRA’s investigation focused on whether Ngo participated in private securities transactions. Those transactions are sometimes referred to as “selling away” and generally involve securities-related activities that occur outside a brokerage firm’s supervision.
Alleged Rule Violations
FINRA stated that it sent Ngo requests under FINRA Rule 8210 on March 12, 2026, seeking information, documents concerning his communications with investors, and financial records. FINRA also requested testimony on March 17, 2026. According to FINRA, Ngo acknowledged receiving the requests but stated that he would not provide the materials and would not testify.
FINRA alleged that this conduct violated FINRA Rules 8210 and 2010. Rule 8210 allows FINRA to require information, documents, and testimony from securities brokers during investigations, while Rule 2010 requires securities brokers to uphold high ethical standards. FINRA concluded that Ngo’s refusal to cooperate prevented staff from obtaining information relevant to its investigation.
Did You Invest Through Securities Broker / Financial Advisor Alan Ngo?
Are you concerned about your investments through Alan Ngo? Get in touch with Soreide Law Group at (888) 760-6552 or online and consult with a securities attorney regarding a potential recovery of your investment losses. Soreide Law Group has recovered losses for clients throughout the US. Also, our securities lawyers work on a contingency fee basis and advance all costs. Ngo and brokerage firms Ngo worked for deny allegations of sales practice violations.
