NEW LONDON, Conn. — Edwin F. Rachleff, the deceased investment broker with ties to liquidated New London Security Federal Credit Union, did not have any customer disputes, disciplinary or regulatory actions filed against him as of Aug. 5, according to the Financial Industry Regulatory Authority, which regulates nearly 5,000 brokerage firms and more than 676,000 registered securities representatives.
NCUA would not comment on whether there was a tie between the July 28 suicide of Rachleff, 82, who handled members' investments at New London and the credit union's financial status, referring any questions on the matter to law enforcement officials. His death came on the same day NCUA liquidated $12 million New London for insolvency.
"Details involving the examination process of New London Security FCU are not being disclosed, as they involve proprietary, non-public credit union information, as well as confidential member financial data," said John McKechnie, NCUA director of public and congressional affairs.
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