According to records with the Financial Industry Regulatory Authority (FINRA), Albany, New York-based Merrill Lynch broker Vincent Sciabica has customer disputes against him. He was accused of executing transactions without authorization at the time of the transactions, and misrepresenting the commissions associated with exchange-traded fund investments. These are both against securities laws. A brokerage firm like Merrill Lynch has an obligation to oversee its employees in order to make sure that they do not violate securities laws. If it does not, it can be held liable for investment losses in the FINRA arbitration forum on a contingency fee basis.
Mr. Sciabica was previously registered with Blinder, Robinson & Co. from November 1986 until February 1988, Morgan Stanley in Albany, New York from January 2002 until April 2007, Morgan Stanley in Albany from April 2007 until June 2009 and Morgan Stanley in Albany from June 2009 until September 2014. He is currently registered with Merrill Lynch and has been since September 2014. He has one customer dispute against him. This is according to public, online records with FINRA’s BrokerCheck report.
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