Merrill Lynch Fires Alabama Advisor Pat Brown and Pays $4.2 Million Customer Settlement

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Alabama financial advisor Pat Brown (CRD 1148258) has been fired by Merrill Lynch. This is according to disclosures released by FINRA on January 11, 2020. He continues to be licensed as RFG Advisory, an SEC registered investment advisor. June 2021: Multi-Million Dollar Settlement On October 27, 2021, Merrill Lynch agreed to pay a customer settlement […]

Complaint Against Merrill Lynch Settles for $1.8

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Harold Cho (CRD # 2202603) has been involved in a $1.8 million settlement to resolve a complaint against Merrill Lynch. This is according to his BrokerCheck report accessed on January 10, 2022. According to records reviewed from the Financial Industry Regulatory Authority, the complaint involved a customer that alleged unauthorized trading from March 11, 2020 […]

Investor Seeks Over $400,000 in Arbitration Involving John Gatto

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John Gatto (CRD #: 1415454), an investment advisor registered with Merrill Lynch, Pierce, Fenner, & Smith, has a new customer complaint involving an alleged failure to follow instructions, according to his BrokerRecord, accessed on January 10, 2022. Mr. Gatto also has two settled customer disputes on his record as well as disputes that were denied […]

Merrill Lynch Fined $2 Million over Trading Violations

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Merrill Lynch recently entered into a consent order with the state of New Hampshire on December 2, 2020. Here are the details: Investors complained that accounts sustained significant losses at a time when the market was gaining. The advisor excessively traded “global best of breed” stocks. The investor also suffered significant losses in inverse and […]

Securities Regulators Alleged Jesse Webb Engaged in Dishonest Behavior – Dishonest or Unethical Conduct

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Jesse Webb (CRD# 2298761) allegedly engaged in “dishonest or unethical behavior in the securities industry” that resulted in the denial of his registration application by state regulators. According to his Financial Industry Regulatory Authority (FINRA) BrokerCheck report, last accessed on December 8, 2021, Mr. Webb is currently a representative of Ameriprise Financial Services in The […]

Former Merrill Lynch Advisor Glen Turner Has History of Complaints

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Glen Turner (CRD# 2503850) recently departed Merrill Lynch for Kestra Investment Services’ branch office in Boca Raton, Florida. According to his Financial Industry Regulatory Authority (FINRA) BrokerCheck report, last accessed on December 2, 2021, Mr. Turner has been involved in several customer complaints. Customer Complaints: Turner Made Unsuitable Recommendations, Used Margin FINRA records describe two […]

FINRA: Complaint Involving Eli Moallem Settles for $275,000

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Eli Moallem (CRD# 2954321) has been involved in a customer complaint that settled for more than $200,000. According to his Financial Industry Regulatory Authority (FINRA) BrokerCheck report, last accessed on December 2, 2021, Mr. Moallen recently departed Merrill Lynch and is now registered with NewEdge Securities in Montvale, New Jersey. Customer Complaint: Eli Moallem Made […]

Merrill Lynch Advisor Mark Carlson Involved in Another Customer Dispute

Mark Carlson (CRD #: 1024633), a broker registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, is facing an investor dispute, according to his BrokeCheck record, accessed on November 24, 2021. Carlson also offers advisory services through The Carlson Group. History of Customer Disputes and Settlements On May 18, 2021, an investor alleged that Mark […]

Merrill Lynch Fined Over MSRB Rule Violations

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The Financial Industry Regulatory Authority, or FINRA, recently announced that Merrill Lynch was fined. Here is more information about the fine: The fine against Merrill Lynch covers activity from February 2015 through June 2021. FINRA alleged that Merrill Lynch violated MDRB Rule G-27 as well as FINRA Rule 2010. Merrill Lynch paid a fine of […]

Merrill Lynch Fined by FINRA for Reg SHO Violations

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FINRA recently announced that Merrill Lynch would pay a fine for various trading violations, including violations of Regulations SHO. According to FINRA, Merrill Lynch failed to close out fail-to-deliver positions. Here is a copy of FINRA’s fine. Did You Lose Money Investing with Merrill Lynch? Notice: JavaScript is required for this content. Print this Article