Merrill Lynch Experiences System Outage

Posted on April 29th, 2020 at 5:07 PM
Merrill Lynch Experiences System Outage

From the Desk of Jim Eccleston at Eccleston Law LLC:

Merrill Lynch is the latest financial firm to experience connection disruptions.  Robinhood, JPMorgan Chase and Morgan Stanley have also experienced their own outages as these firms move to a remote workplace.  Merrill Lynch brokers nationwide were affected by this outage, which caused them to lose access to their workstations. The firm said that the outage was due to an issue with its internet service provider. 

When Morgan Stanley experienced a system outage in March, it subsequently reimbursed clients for revenue lost due to missed transactions during the outage.  Robinhood is now defending itself against lawsuits as a result of the system outages it experienced.  Recent financial firm system outages can be especially damaging for clients, as the market experiences unprecedented volatility and uncertainty.

Investors who were affected by this, or other, system outages should contact the professionals at Eccleston Law to discuss their options.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: eccleston, eccleston law, james eccleston, merrill lynch, system outage

Return to Archive



I just received this letter from the CFP Board. Thank you, Thank you, THANK YOU!

David Y


February 23, 2024
Advisor Accepts Industry Bar Amid FINRA Probe into Outside Business Activities

John A. Dougherty, a veteran advisor with 23 years of experience, agreed to an AWC (Acceptance, Waiver, and Consent) after refusing to cooperate with a regulatory investigation into allegations of undisclosed outside business activities.

February 22, 2024
Key Considerations for Advisors When Assessing the Financial Soundness of Annuities

While rating agencies like Fitch and S&P Global Ratings generally highlight the strength of annuity issuers, advisors still should scrutinize certain factors in their assessment process.

February 21, 2024
SEC Alleges Fraud Against Morgan Stanley and Former Executive in Block Trading Business

As reported by the Wall Street Journal, the Securities and Exchange Commission (SEC) has charged Morgan Stanley & Co. LLC and its former head of equity syndicate desk, Pawan Passi, with a multi-year fraud involving the disclosure of confidential information related to block trades.