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The Customer alleges unauthorized trading, unsuitable investment recommendations, misrepresentation and omission of material facts and excessive trading from March 2012 to July 2016.
Damage Amount Requested
$150,000.00
6/28/2005
Customer Dispute
Award / Judgment
Allegations
CLAIMANT ALLEGES FA ENGAGED IN UNAUTHORIZED TRADING
Damage Amount Requested
$30,470.00
Damages Granted
$5,000.00
Broker Comment
CLAIMANT, [CUSTOMER], COMMENCED NASD DR NO. 05-03072 AGAINST MERRILL LYNCH AND IAIN A. SHARPE ASSERTING A CLAIM THAT THE FINANCIAL ADVISOR MADE UNAUTHORIZED TRADES DUE TO THE FACT THAT CLAIMANT DID NOT UNDERSTAND ENGLISH AND THEREFORE COULD NOT AUTHORIZE SUCH TRADES. CLAIMANT ALLEGED DAMAGES OF APPROXIMATELY $30,470.00. THE CASE WAS ARBITRATED AND A DECISION/ AWARD WAS RENDERED IN THE AMOUNT OF $5,000.00 PLUS 5% INTEREST FOR 2 1/2 INTEREST ($625.00) PLUSTCOST ($225.00) ASSESSED AGAINST MERRILL LYNCH.
9/30/2003
Customer Dispute
Denied
Allegations
CUSTOMER ALLEGES FA PROVIDED HIM WITH UNSUITABLE INVESTMENT ADVICE.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.