Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Christopher Todd Bailey (also known as Chris Bailey) [CRD#: 6907048, Cumming, Georgia]. Bailey worked for NYLIFE Securities LLC from May 2021 to January 2022 and later joined MML Investors Services, LLC from November 2022 to March 2024. Recent disclosures highlight concerns about Bailey’s conduct, including allegations of unsuitable sales practices and regulatory violations.
On November 26, 2024, FINRA barred Christopher Bailey from associating with any FINRA-member firms. This regulatory action stemmed from allegations reported by MML Investors Services, LLC, on a Form U5. According to FINRA’s findings, Bailey was under investigation for submitting incorrect bank account information for premium payments and receiving advance commissions. Despite producing some documents, Bailey failed to provide requested materials, including bank statements. During a call with FINRA, he acknowledged the request but refused to comply further. The resolution of this case was finalized through an Acceptance, Waiver & Consent (AWC) agreement, resulting in a permanent bar effective November 26, 2024.
Christopher Bailey’s employment with MML Investors Services, LLC was terminated on March 1, 2024. His discharge followed an internal investigation into alleged irregularities in life insurance sales practices. Specific allegations included a pattern of submitting incorrect bank account details for premium payments and improperly receiving advance commissions. MML Investors Services cited these issues as the primary reasons for his dismissal.
Previously, on December 15, 2021, NYLIFE Securities LLC terminated Christopher Bailey following a review of his business practices. The firm’s investigation uncovered the following issues:
These findings led NYLIFE Securities LLC to end Bailey’s association with the firm.
If so, reach out to Soreide Law Group online or at (888) 760-6552 to speak with a securities attorney. Soreide Law Group takes cases on a contingency basis, advances all costs upfront, and helps investors nationwide recover losses from sales practice violations, though outcomes cannot be guaranteed. Bailey and the firms he worked for deny accusations of sales practice violations.
Robert Averwater (CRD 5614514) is a Memphis, Tennessee broker. FINRA fined him $10,000, suspended him from association with any member firm in all capacities for four months, and required him to complete 10 hours of continuing education, according to an AWC issued August 18, 2026.
Qi Yang (CRD 7439718) is a San Francisco, California broker. FINRA suspended him from association with any member firm in all capacities for six months and assessed a deferred fine of $5,000, according to an AWC issued August 10, 2026.
Thomas Jacobs (CRD 4139430) is a Bay City, Michigan broker. FINRA suspended him from association with any member firm in all capacities for two months and assessed a deferred fine of $2,500, according to an AWC issued August 3, 2026.
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