Eric Takao Facing NYLIFE Securities Investor’s Misrepresentation Claim

Investors apparently complained about securities broker Eric Kazuyoshi Takao [CRD: 804445, Honolulu, Hawaii], based on disclosures found on FINRA BrokerCheck. Evidently, Takao has worked for NYLIFE Securities LLC since September 27, 1982. Keep reading to find out more about the disclosures involving Takao and how they may have affected investors.

NYLIFE Securities LLC Investor Accused Takao Of Misrepresentation

Evidently, a client filed a complaint about Eric Takao. Primarily, the client alleged that Takao misrepresented information about a variable annuity and made unsuitable recommendations about the allocation of her investment funds. As a result, on May 2, 2025, NYLIFE Securities LLC settled this matter by paying the client $8,510.85 in damages.

Eric Takao Disclosed Unsuitable Recommendations Allegations By NYLIFE Securities LLC Client

Specifically, a client of NYLIFE Securities LLC disputed Eric Takao’s sales practices, according to a complaint. Allegedly, Takao made unsuitable recommendations resulting in a tax liability. It appears that Takao caused the client to sustain damages connected to mutual funds. Therefore, NYLIFE Securities LLC agreed to settle the matter on May 3, 2023, by compensating the client in the amount of $177,167.87.

NYLIFE Securities Inc. Investor Accused Takao Of Unsuitable Advice

Particularly, a client filed a complaint about Eric Takao. The client alleged that Takao gave unsuitable advice regarding the replacement or exchange of variable annuities. For this reason, on July 20, 1999, NYLIFE Securities Inc. settled this matter by paying the client $113,618.06 in damages.

Were You Impacted By Financial Advisor / Securities Broker Eric Takao?

Did you experience losses because of Eric Takao? If so, reach out to Soreide Law Group at (888) 760-6552 or online and consult with a securities attorney regarding recovering your investment losses. For years, Soreide Law Group has recovered losses for clients throughout the country. The firm also works through a contingency fee arrangement and advances all costs. Takao and brokerage firms Takao worked for deny all allegations referenced in public disclosures.