Scottsdale, Arizona-based Merrill Lynch broker Jonathan Rankin has customer complaints against him, according to his public records online with the Financial Industry Regulatory Authority (FINRA). Mr. Rankin, while registered with Merrill Lynch, allegedly misrepresented and omitted material facts regarding a variable annuity issued in May 2017. He also allegedly executed unauthorized trades, made misrepresentations of material facts, and omitted material facts related to investments from June 2015 until January 2016. These are against securities laws and internal firm rules. A brokerage firm like Merrill Lynch must reasonably oversee its brokers to make sure that they don’t violate securities laws. If it does not, it may be liable for losses on a contingency fee basis in the FINRA arbitration forum.
Jonathan Rankin is currently registered with Merrill Lynch in Scottsdale, Arizona, and has been since August 2007. He has two customer disputes against him, alleging unauthorized trading and misrepresentation and omission of material facts from June 2015 until January 2016, and misrepresentation and omission of material facts regarding a variable annuity issued in May 2017. This is a pending complaint.
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