Tagged with "Merrill Lynch"

Former Merrill Lynch Advisors Convicted Of Manipulating Market

Posted on August 16th, 2021 at 12:58 PM
Former Merrill Lynch Advisors Convicted Of Manipulating Market

Two former Merrill Lynch advisors, Edward Bases and John Pacilio, have been convicted of fraudulently manipulating the precious metals market with false orders, which enabled the advisors to complete trades at more favorable prices.

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FINRA Suspends Former Merrill Advisor Who Improperly Sought Covid-Relief Loan

Posted on August 6th, 2021 at 12:03 PM
FINRA Suspends Former Merrill Advisor Who Improperly Sought Covid-Relief Loan

The Financial Industry Regulatory Authority (FINRA) levied a seven-month suspension against an ex-Merrill advisor, Evelyn Batista, as the regulator continues to hunt for advisors who improperly sought Covid-relief loans.

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Merrill Drops TRO Bid After RBC Team Returns iPads

Posted on June 23rd, 2021 at 12:08 PM
Merrill Drops TRO Bid After RBC Team Returns iPads

After filing for a TRO in early June, Merrill Lynch has elected to dismiss a federal lawsuit against a Maryland-based team that left for RBC Wealth Management.

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Merrill Lynch Granted “Limited” TRO to Enjoin Wells Fargo Team in Tennessee

Posted on April 15th, 2021 at 8:52 AM
Merrill Lynch Granted “Limited” TRO to Enjoin Wells Fargo Team in Tennessee

A Tennessee judge has issued a "limited" temporary restraining order (TRO) against a Wells Fargo Advisors team.

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Merrill Lynch Seeks TRO to Stop Transitioning Tennessee Advisor Team

Posted on April 2nd, 2021 at 9:39 AM
Merrill Lynch Seeks TRO to Stop Transitioning Tennessee Advisor Team

Merrill Lynch has requested that a judge block a team of Wells Fargo Advisors from contacting their former customers, purportedly in violation of their employment and bank referral agreements.

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Former Merrill Broker Pleads Guilty to $3 Million Wire Fraud

Posted on March 23rd, 2021 at 12:39 PM
Former Merrill Broker Pleads Guilty to $3 Million Wire Fraud

Marcus Boggs, who spent 12 years with Merrill, admitted he stole more than $3 million from multiple clients for personal expenses, including luxury hotel stays and expensive dinners.

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Merrill Lynch’s Sunset-Plan Presents Challenges and Issues for Retiring Advisors

Posted on March 16th, 2021 at 4:21 PM
Merrill Lynch’s Sunset-Plan Presents Challenges and Issues for Retiring Advisors

Nearly every major brokerage firm offers its own succession or sunset program that allows senior advisors to retire, transfer their business and monetize in place.

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Ex-Merrill Bank Advisor Granted Expungement

Posted on February 2nd, 2021 at 9:41 AM
Ex-Merrill Bank Advisor Granted Expungement

A Nevada advisor won expungement and $50,000 in damages after an arbitrator found that Merrill Lynch’s investigation and firing showed reckless disregard for the truth.

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Former Merrill Lynch Advisor Sentenced to 8 Years in Prison for Theft

Posted on December 22nd, 2020 at 4:07 PM
Former Merrill Lynch Advisor Sentenced to 8 Years in Prison for Theft

Christopher Hibbard, a former Merrill Lynch advisor from Louisville, Kentucky, has been sentenced to eight years in prison for embezzlement, AdvisorHub reported.

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Merrill Lynch to Pay $26 Million to New Hampshire Regulator to Settle Charges of Excessive Trading

Posted on December 8th, 2020 at 3:06 PM
Merrill Lynch to Pay $26 Million to New Hampshire Regulator to  Settle Charges of Excessive Trading

Merrill Lynch has agreed to pay a $2 million fine and $24.3 million in reimbursement to clients to settle an action brought by the New Hampshire Bureau of Securities Regulation.

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LATEST NEWS AND ARTICLES

December 3, 2021
FINRA Issues Fine to Small Advisory Firm Over Material Misrepresentations

The Financial Industry Regulatory Authority has censured and issued a $250,000 fine to a Los Angeles-based advisory firm, WestPark Capital Inc., for making material misrepresentations pertaining to promissory notes offered by its parent company.

December 2, 2021
FINRA Imposes Suspension on Ohio-Based Advisor Over Outside Investments

The Financial Industry Regulatory Authority (FINRA) has issued a one-year suspension and $12,500 fine to an Ohio-based advisor, William LeBoeuf, who worked at Merrill Lynch and Cetera Advisor Networks when the violations occurred.

December 1, 2021
SEC Charges Former Illinois Edward Jones Advisor With Fraud

The Securities and Exchange Commission (SEC) has charged a former Illinois-based investment advisor, Ronald Molo, with defrauding three clients out of at least $800,000.