Former Merrill Lynch broker Lyle Boudreaux was accused of making an inappropriate investment, breaching contract, violating state securities laws, negligence and for a client of his suffering losses as a result of an exchange-traded fund position in an advisory account. These are all against securities laws and internal firm rules. A brokerage firm like Merrill Lynch has a duty to its customers to properly monitor and supervise all its employees. If it does not, it can be held liable for losses on a contingency fee basis in the Financial Industry Regulatory Authority (FINRA) arbitration forum. According to FINRA online records, Mr. Boudreaux was previously registered with Dean Witter Reynolds, PFS Investments, Sterne, Agee & Leach, Fixed Income Securities, Coastal Securities, Merrill Lynch and Sunbelt Securities. He is currently registered with Independent Financial Group in Houston, Texas, and has been since August 2012. He has three customer disputes against him, two of which are currently pending.
The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.