FINRA

Respondent Jones failed to respond to FINRA request for information.

Letter

Bar (Permanent)

All capacities

Indefinite

1/19/2018

Pursuant to FINRA Rule 9552(h) and in accordance with FINRA's Notice of Suspension and Suspension from Association letters dated October 16, 2017 and November 9, 2017, respectively, on January 19, 2018, Jones is barred from association with any FINRA member in all capacities. Respondent failed to request termination of his suspension within three months of the date of the Notice of Suspension; therefore, he is automatically barred from association with any FINRA member in all capacities.

Merrill Lynch, Pierce, Fenner & Smith Incorporated

Voluntary Resignation

Allegations that the registered representative exercised discretion in non-discretionary client accounts.

The Customers allege unauthorized trading from March 2007 to March 2016.

$80,000.00

THE CUSTOMERS ALLEGE UNSUITABLE INVESTMENT RECOMMENDATIONS AND MISREPRESENTATION AND OMISSION OF MATERIAL FACTS.

$800,000.00

$125,000.00

MR. JONES DENIES THE ALLEGATIONS IN THE STATEMENT OF CLAIM. THIS MATTER WAS SETTLED BY MERRILL LYNCH FOR BUSINESS REASONS TO AVOID THE EXPENSE AND UNCERTAINTY OF LITIGATION. MR. JONES DID NOT CONTRIBUTE TO THE SETTLEMENT.

THE CUSTOMER ALLEGES MISREPRESENTATION AND UNSUITABLE INVESTMENT RECOMMENDATIONS.

$8,000.00

ATTORNEY FOR CLIENT ALLEGES THAT THE FINANCIAL ADVISOR'S RECOMMENDATION TO PURCHASE OPPENHEIMER AMT-FREE MUNICIPAL CLASS C MUTUAL FUND IN JANUARY AND FEBRUARY 2007 WAS UNSUITABLE BASED ON THE CLIENT'S FINANCIAL PROFILE AT THE TIME OF PURCHASE. COMPENSATORY DAMAGES STATED AS LOSS OF MARKET VALUE OF FUND PLUS INTEREST, TOTALING $44,165.00.

$44,165.00

$31,681.34