Alfred Kai Kwong Chan—Outside Business Activity

investors rights attorneysAlfred Kai Kong Chan Allegedly Sold 105 Indexed Annuities with an Approximate Value of $2.5 Million through an Outside Business Activity without Properly Disclosing the Sales to Signator Investors

Alfred Kai Kwong Chan allegedly sold 105 indexed annuities with an approximate value of $2.5 million through an outside business activity without properly disclosing the sales to Signator Investors, Inc. (Signator), according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC).

Chan also allegedly distributed a newspaper advertisement that lacked adequate risk disclosure and was also not approved by Signator, the AWC also reports.

Furthermore, Chan also allegedly sold fixed insurance products through an insurance agency approved by Signator, but with the requirement that all indexed annuity business be submitted through Signator, the AWC notes.

Alfred Kai Kong Chan Suspended and Fined $10,000 for Alleged Outside Business Activities

Alfred Kai Kwong Chan, by allegedly engaging in a business activity outside the scope of his relationship with Signator, and having allegedly not provided prior written notice to said member firm, violated FINRA Rules, according to the aforementioned AWC.

Chan, as a result, has been suspended and fined $10,000 by FINRA, the AWC acknowledges.

One should also note that, according to the AWC,  Alfred Kai Kwong Chan neither admitted nor denied the FINRA findings.

The Peiffer Rosca Wolf Securities Lawyers Often Assist Investors

The Peiffer Rosca Wolf securities lawyers assist investors who lose money as a result of brokers engaging in outside business activities. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of brokers taking part in outside business activities are encouraged to contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1144 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.