Options For Whistleblowers: Merrill Lynch

Last month, the U.S. Securities and Exchange Commission (SEC) awarded three whistleblower Merrill Lynch brokers a record $83 million who were tied to a 2016 settlement with Bank of America Corp’s Merrill Lynch’s brokerage unit. This was the biggest ever payout to whistleblowers. Please call our law firm today for a no-cost review if you…

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Jonathan Belden; Merrill Lynch; Oakland, California

According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Jonathan Belden, a former registered broker with Merrill Lynch, has violated securities laws. Allegedly, Mr. Belden effected approximately 200 securities transactions in seven customer accounts without written discretionary authority from the customers and without his firm’s knowledge.…

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Merrill Discontinues Efforts to Fight More Than 60 Former Managers in Court

According to advisorhub online, Merrill Lynch has agreed to stop fighting the claims of more than 60 former managers seeking more than $1 billion in the Financial Industry Regulatory Authority (FINRA) arbitration forum. On March 27th, Merrill, according to a spokesperson, dismissed its efforts obtain preliminary injunctions in nine federal district courts that would have…

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Andrew Stoltmann Discusses With On Wall Street…

Andrew Stoltmann discusses with On Wall Street magazine the “revolving door” between regulators and brokerage firms with Merrill Lynch’s hiring of #FINRA’s Susan Axelrod this week. 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…

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Bank of America in Trouble with New York State for Dark Pool Investments

According to a recent InvestmentNews article, Bank of America will pay $42 million to the state of New York to settle a probe into a so-called scheme where the firm misled clients about who was seeing and filling their orders and who was trading in its dark pool, called “Instinct X.” Beginning in 2008, Bank…

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Merrill Lynch Under the Gun with 19 Arbitration Claims

Merrill Lynch is attempting to stop 19 arbitration claims filed by former employees who allege millions in damages from stock losses. The brokerage firm filed federal court actions last week arguing that the claims are the same issues that have already been litigated previously, going back as early as 2007. Those alleged failure to disclose…

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Sexual Harassment Claims Against Merrill Lynch

Attorneys at Stoltmann Law Offices are investigating sexual harassment claims against brokerage firms such as Merrill Lynch. Lawsuits have been filed against the bank previously, alleging sexual harassment and other misconduct by employees. According to the New York Times in April of 2004, a panel of arbitrators awarded $2.2 million to a women who claimed…

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Broker James Lowther is Involved in Pending Customer Complaints

Stoltmann Law Offices is investigating Merrill Lynch broker James Lowther, who is currently involved in two pending customer complaints against him. Lowther, who works in the Merrill Lynch branch in Sarasota, Florida, allegedly executed unauthorized trades, recommended unsuitable investments, misrepresented and omitted material facts in connection to investments in master limited partnership (MLP) products, failed…

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Patrick McNamara Named in Customer Complaint

Florham Park, New Jersey Merrill Lynch broker Patrick McNamara was recently named in a pending customer dispute. Prior to that, he was named in other customer disputes. McNamara was accused of misrepresenting material facts, recommending unsuitable investments, recommending unsuitable debt securities, omitting material facts, and failing in his supervisory duties. All of these are against…

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Jeffrey Slothower Entered Into An AWC With FINRA

Jeffrey Slothower, a former registered broker with Merrill Lynch, recently entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). In January 2016, Mr. Slothower allegedly wired money to a Merrill Lynch customer’s bank account to offset the customer’s brokerage account losses, when he was registered with PCS.…

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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 (10 S. LaSalle, Suite 3500, CHICAGO, IL 60010, 312.332.4200). 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.