Investor’s Dispute with Merrill Lynch Settles for $2.1 Million

Keith Simmons (CRD #: 730619), a broker registered with Merrill Lynch, Pierce, Fenner, & Smith, was recently involved in an arbitration that settled for $2.1 million, according to his BrokerCheck record[1], accessed on November 2, 2021. He is both a registered investment adviser and broker in Miami, Florida. Keith Simmons has a total of four disclosed customer complaints on his license.

Another $1.1 Million Complaint is Pending

On October 30, 2020, a representative for a client alleged that Keith Simmons made unsuitable investment recommendations. The representative is seeking $1.1 million on behalf of the investor; the dispute is pending.

On May 29, 2020, a client alleged [2]that Keith Simmons recommended unsuitable investments. The client is seeking $8,000,000; the dispute settled for $2.1 million.

On December 2, 2009, a client alleged that Simmons misrepresented the liquidity risk related to auction rate securities. The client sought $300,000; the dispute settled for $300,000.

On December 17, 1997, a client alleged that Keith Simmons oversold shares of a security without his authorization. The dispute settled for $9,000.

Keith Simmons has passed the Series 65 Uniform Investment Adviser Law Examination, Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, and the Series 7 General Securities Representative Examination. He is a registered broker in 30 states and a registered investment adviser in Florida and Texas.

During his 39 years of experience, Simmons has only ever registered with one firm: Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691). If Keith Simmons was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys.

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