How To Sue Merrill For Chinese Stock Sale

According to a recent InvestmenNews article, Merrill Lynch has reached an agreement with the Securities and Exchange Commission (SEC) related to its sale of shares of a Chinese software company that has been found to be operating a fraud scheme. The SEC claimed that Merrill failed to perform proper due diligence functions in the unregistered…

Pavel Shklyar Former J.P. Morgan Broker Barred by FINRA

According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Pavel Shklyar was accused of violating industry rules and regulations. FINRA was investigating Shklyar for his participation in potential private securities transactions, and he did not provide requested documents to FINRA. This resulted in an automatic bar…

Merrill Lynch Broker Jonathan Rankin Has Customer Complaints Against Him

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…

Merrill Lynch Fined $26 Million by SEC and FINRA

Last week, Merrill Lynch was fined a total of $26 million by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) alleging failures in reporting “suspicious” transactions, according to documentation obtained by Reuters. Allegedly, from 2010 until 2011, the bank failed to properly monitor brokerage accounts for illegal activity, and offered…

Merrill Lynch Fined $1.4 Million

The Financial Industry Regulatory Authority (FINRA) today fined Merrill Lynch $1.4 million for failing to establish a reasonable supervisory system and procedures to identify and evaluate extended settlement transactions, and for related rule violations. Extended settlement transactions have a longer time between trade and settlement than routine securities transactions, and therefore involve an extension of…