One or more investors apparently complained about securities broker Sharon Lynn Pensabene [CRD: 2368040, Lompoc, California], according to disclosures on FINRA BrokerCheck. Sharon Pensabene worked for NYLIFE Securities LLC from July 25, 1997 to February 1, 2024. Keep reading to learn more about the securities broker’s disclosures and what they could mean for investors.
Evidently, on February 10, 2025, a NYLIFE Securities LLC client filed a complaint about Sharon Pensabene. Namely, the client alleged forgery on life insurance policy forms—such as payment, loan, and dividend forms. Because of this, the client allegedly incurred damages relating to life insurance products. Therefore, the client requested more than $5,000 in compensation from NYLIFE Securities LLC or Pensabene.
Specifically, on January 12, 2024, NYLIFE Securities LLC disaffiliated with Pensabene. NYLIFE Securities LLC alleged that Pensabene failed to follow company rules, including the use of an unapproved business name related to health insurance and the use of text messaging for business purposes outside the firm’s official communication platform.
Also, a client of NYLIFE Securities LLC contested Sharon Pensabene’s sales practices, according to a complaint. Allegedly, Pensabene caused the client to sustain damages through investments in fixed annuities and variable annuities. Consequently, NYLIFE Securities LLC chose to settle the matter on July 31, 2023, by compensating the client in the amount of $5,372.28.
Particularly, a client filed a complaint about Sharon Pensabene. Supposedly, Pensabene failed to make her understand information relating to investing, resulting damages. On July 25, 2023, NYLIFE Securities LLC settled this matter by paying the client $5,372.28 in damages.
Additionally, a client of NYLIFE Securities LLC contested Sharon Pensabene’s sales practices, according to a complaint. Allegedly, Pensabene caused the client not to understand their variable annuities and fixed annuities purchases. Therefore, NYLIFE Securities LLC opted to settle the matter on July 25, 2023, by compensating the client in the amount of $5,732.94.
Did you experience losses because of Sharon Pensabene? If so, contact Soreide Law Group online or at (888) 760-6552 and speak to a securities lawyer about a possible recovery. Soreide Law Group has over a decade of experience recovering losses for investors throughout the United States. The law firm also takes cases on a contingency fee arrangement and advances all costs. Pensabene and securities firms / investment advisories Pensabene worked for deny accusations of sales practice violations.
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