Please refer to Broker's statements/comments on previous DRPs.

The customer's complaint is false and misleading, and I believe it was induced by false statements about me made by Michael Kelley to whom the firm reassigned my customers in a campaign called "Operation Dustin's Orphans." Notably, the firm has refused to provide to me the documents supporting this disclosure and the other disclosures about me despite my repeated requests. The following supports my position: (1) in April 2014, the customer decided to purchase the same policy she had previously purchased from a prior agent of the firm; (2) in June 2014, the customer was interviewed by the firm's compliance department at which time she spoke very highly of me; (3) in June 2014, my supervisor Peter McAvinn submitted a Managing Partner Determination to the firm's compliance department wherein he represented that the April 2014 transaction was suitable (although I believe the document he submitted was falsified because he never met with me or reviewed documents with me as he represented he had done); (4) the surrender charges were associated with a transaction in December 2014 wherein the customer received a confirmation from the firm explaining the charges and notifying her of a right of cancellation (which she did not exercise, and therefore, continues to benefit financially from the policy); and (5) the firm prohibits its representatives from providing tax advice (see for example the public profile on Linkedin of Brendan Geggatt who was the co-registered representative for the transaction which is the subject of the pending regulatory disclosure: "Neither New York Life Insurance Company, nor its agents, provides tax, legal, or accounting advice. Please consult your own tax, legal, or accounting professionals before making any decisions.").

I am vigorously defending the regulatory proceedings because, among other things: (1) the recommendation was suitable as set forth in NYLife Securities, LLC's answer; (2) Brendan Geggatt, the co-broker, is not named as a respondent by the Massachusetts Securities Division; (3) the Administrative Complaint contains false allegations (e.g. the customer's net worth is substantially understated); and (4) the customer still owns the policy Mr. Geggatt and I together recommended and which is performing well. Furthermore, this disclosure by NY Life is false and misleading because Mr. Aiguier is not currently under any order of postponement.

NYLIFE SECURITIES LLC CONTRIBUTED TO ANY CONFUSION CONCERNING THE TRANSACTIONS BECAUSE IT COULD NOT LOCATE THE REPLACEMENT APPLICATION SUBMITTED TO IT PURSUANT TO THE FIRM'S PROTOCOL. THE CHARGES FOR A PARTIAL SURRENDER OF THE ANNUITY, WHICH WAS PURCHASED THROUGH ANOTHER NYLIFE SECURITIES LLC REGISTERED REPRESENTATIVE, WERE EXPLAINED TO THE CLIENTS AND REFLECTED IN DOCUMENTATION. AFTER THE TRANSACTION, NYLIFE SECURITIES LLC SENT A CONFIRMATION WHICH CONTAINED THE NAME OF ANOTHER NYLIFE SECURITIES LLC REGISTERED REPRESENTATIVE, FULLY EXPLAINED THE SURRENDER CHARGES, AND CONTAINED A NOTICE OF THE RIGHT TO CANCEL. My supervisor was Peter McAvinn, who is the Managing Partner of New York Life Insurance Company's Boston General Office and Branch Manager of NYLife Securities LLC. I have documents which support the following: (1) Mr. McAvinn submits Managing Partner Determinations to the firm's compliance department which I believe are not true and accurate; (2) I believe he records commissions as revenue prior to the recognition events (which I believe should be recorded as loans); (3) some written customer complaints concerning registered representatives whom he supervises are not reported in the CRD System; and (4) a registered representative he supervised received a written customer complaint stating only that he was not told he was being placed into a 10 year account, but the disclosure in the CRD System states misrepresentation, failure to explain surrender charges, and an assurance that the customer would get his original investment back when the customer chose to retire, even if the market incurred losses. I believe that Mr. McAvinn and other registered representatives of NYLife Securities LLC are interfering with my customer relationships by creating false and misleading disclosures about me through a campaign I understand is called "Operation Dustin's Orphans." Robert Burns, a New York Life Partner, who reports to Mr. McAvinn recently asked me if I would return to New York Life, and I replied that I would not. - amended 12/16/15

MR. AIGUIER FOLLOWED EVERY RULE AS WELL AS PROCEDURE DURING THE SALES PROCESS. MR. AIGUIER WAS FOUND OF NO WRONG DOING RELATING TO THE ALLEGATIONS MADE IN THE COMPLAINT. THE DECISION TO SETTLE THIS COMPLAINT WAS MADE IN THE INTEREST OF GOOD CUSTOMER RELATIONS.