Articles Tagged with Merill Lynch

AdobeStock_90383187-1-300x194Did your broker recommend to you General Electric (GE) stock or structured products benchmarked to general electric? If so the investment losses you sustained might be recoverable through the FINRA arbitration process. Brokers have an obligation to perform reasonable due diligence on securities before they are recommended for clients. Unfortunately many brokers at firms like Merrill Lynch, Morgan Stanley, Raymond James, UBS, recommended structured products benchmark to General Electric stock and the results have been cataclysmic for Investors. Investments must also be suitable and appropriate for clients based off of their age, income, net worth, and actual investment objectives. If your broker recommended general electric shares or GE related structured products please call out law firm in Chicago Illinois at 312-332-4200.

Stoltmann Law Offices is investigating Leonard Fox, a former broker with FSC Securities in Marlton, New Jersey. Fox was recently barred from the industry by the Financial Industry Regulatory Authority (FINRA) after it was alleged that he had borrowed and misappropriated funds from a firm customer. Fox allegedly borrowed $10,000 in funds from another customer on a separate occasion and was suspended for 10 days. The providing of loans or selling of notes and other investments outside of a brokerage firm constitutes impermissible private securities transactions, commonly known as “selling away.” Fox disclosed one of his private securities transactions as being with Fox Wealth Management Group. Selling away is when a broker sells or offers a securities transaction that is not offered or sold by his brokerage firm.

According to his online FINRA BrokerCheck report, Leonard Fox was registered with First Jersey Securities , Merrill Lynch, Janney Montgomery Scott, Morgan Stanley and FSC Securities in Marlton, New Jersey from April 2013 until August 2016. He has four customer disputes against him, one of which is currently pending. He is not licensed within the industry and FINRA has permanently barred him from associating with firms that sell securities to the public. Please call us at 312-332-4200 today to speak to an attorney about your options of bringing legal action against Fox’s former firm, FSC Securities. We may be able to help you recover your financial losses.

According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Jeffrey Hunter Smith allegedly resigned from his firm, Morgan Stanley, because he was under internal review relating to “his involvement with a trust held outside of the firm for a non-client family member,” and “his wife’s status as a beneficiary of a client’s account.” Allegedly, in December 2011 and March 2012, Smith borrowed $300,000 from two firms customers without receiving the firm’s approval to enter in to those loans. FINRA rule prohibits a registered representative from borrowing money from or lending money to a customer of his or her member firm employer. Smith also failed to respond to the FINRA inquiry against him, resulting in a permanent bar from the industry.

Smith was registered with Merrill Lynch in Williamsburg, Virginia from May 2002 until April 2009, Citigroup Global Markets in Williamsburg from April 2009 until June 2009, Morgan Stanley in Williamsburg from June 2009 until January 2015 and Wells Fargo Advisors in Williamsburg from February 2015 until June 2016. According to his online FINRA BrokerCheck report, he is not licensed within the industry and has been barred permanently. Please call our law offices in Chicago, Illinois today if you have suffered investment losses with Jeffrey Smith of Morgan Stanley. Morgan Stanley may be responsible for those monetary losses because of its failure to supervise Mr. Smith. The call to us is free so we can discuss your options. 312-332-4200. Please call soon as time is of the essence with these types of cases.

Stoltmann Law Offices is investigating Zakhour “Zak” Chivi who has complaints against him. He is accused of misjudging markets and subjecting clients to unnecessary risks, executing unauthorized transactions and misrepresenting material facts. According to his online BrokerCheck report, Chivi was registered with Merill Lynch in New York, New York from October 1989 until July 1995, Prudential Securities Inc. in New York from June 1995 until December 1998 and First Union Capital Markets in Charlotte, North Carolina from January 1999 until October 1999. He is currently registered with Wells Fargo Advisors in Red Bank, New Jersey and has been since October 1999. He has six customer disputes against him. If you or someone you know is interested in suing his firm, Wells Fargo, in the arbitration forum, please call our securities law firm in Chicago to speak to an attorney. The call is free.

Stoltmann Law Offices is investigating John Notman, a Berthel Fisher broker in Stockton, California. Notman is accused of misrepresenting and recommending unsuitable investments and tenant-in-common (TIC) interests. TICs are co-owners of an undivided interest in real property. Each has an equal right to the use and possession of the property. TICs can be very risky investments. A broker must take into account his client’s age, net worth, investment savvy and portfolio objectives before recommending a security, and if he does not, his firm can be liable for investment losses, in this case, Berthel Fisher can be sued in the Financial Industry Regulatory Authority (FINRA) arbitration forum if you or someone you know lost money with John Notman. Notman also allegedly failed to supervise a representative, failed to conduct proper due diligence, among other complaints.

Mr. Notman was registered with Private Ledger Financial Services from March 1982 until July 1984, Prudential-Bache Securities from June 1984 until August 1986, Painewebber Inc. in Weehawken, New Jersey from July 1986 until January 1990, Merill Lynch in New York, New York from January 1990 until February 1995, Dean Witter in Purchase, New York from March 1995 until February 1997, Continental Capital Investment Services in Bryan, Ohio from April 1997 until March 2003 and Berthel, Fisher & Company in Stockton, California from March 2003 until September 2012. He is not currently registered with any member firm. He has 31 customer disputes against him, three of which are currently pending.

Please call our Chicago-based securities law firm at 312-332-4200 to speak to an attorney about your options of bringing a claim against Berthel Fisher for investment losses. The call is free with no obligation. If you or someone you know suffered investment losses with John Notman, they may be recoverable.

Thomas Stratton-Cooke entered into a Letter of Acceptance, Waiver and Consent with the Financial Industry Regulatory Authority (FINRA). FINRA alleged that he executed discretionary transactions in the accounts of 10 customers without prior written authorization from the customers. The customers were customers of Merill Lynch. This is against securities rules and regulations. For this, Stratton-Crooke was fined $10,000 and suspended from the industry for 10 business days.

Stratton-Crooke was registered with E.F. Hutton & Co. from May 1980 until September 1983, A.G. Edwards & Sons in St. Louis, Missouri from September 1983 until July 1989 and Merrill Lynch in Cleveland, Ohio from July 1989 until September 2014. He is currently registered with Ameriprise Financial Services in Beachwood, Ohio and has been since August 2014.

If you lost money with Thomas Stratton-Crooke, please call our securities law offices at 312-332-4200 to speak with an attorney about your options of suing Merrill Lynch in the FINRA arbitration forum. They may be liable for investment losses because of their inability to reasonably supervise him while he was employed there. The call is free with no obligation.

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