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THE CUSTOMER ALLEGES MISREPRESENTATION AND UNSUITABLE INVESTMENT RECOMMENDATIONS.
Broker Comment
MERRILL LYNCH FOUND [CUSTOMERS'] CLAIM TO BE WITHOUT MERIT
2/28/2005
Customer Dispute
Settled
Allegations
CUSTOMER ALLEGES FA FAILED TO FOLLOW INSTRUCTIONS AND MISREPRESENTED A MATERIAL FACT.
Damage Amount Requested
$7,863.00
Settlement Amount
$9,999.99
Broker Comment
AS A BUSINESS DECISION, THIS MATTER WAS SETTLED FOR NUISANCE VALUE BELOW THE REPORTABLE AMOUNT.
12/21/2004
Regulatory
Final
Initiated By
WISCONSIN
Allegations
FAILURE TO DISCLOSE MATERIAL INFORMATION TO THE DIVISION CONCERNING A CRIMINAL CONVICTION FOR CHARGES SUBSTANTIALLY RELATED TO INSURANCE MARKETING TYPE CONDUCT WHICH HE REPORTED ON AN APPLICATION FOR A WISCONSIN INSURANCE AGENT LICENSE.
Resolution
Order
Sanctions
Suspension
Sanction Details
SUSPENDED INDEFINITELY IN ALL CAPACITIES UNTIL THE INFORMATION REQUESTED CONCERNING THE CRIMINAL CONVICTION IS PROVIDED AND IT IS DETERMINED THAT RIBICH IS ELIGIBLE FOR A LICENSE.
Broker Comment
I APPLIED FOR AN INSURANCE LICENSE FOR THE STATE OF WISCONSIN. I ANSWERED YES TO ONE OF THE QUESTIONS REGARDING CRIMINAL CHARGES BECAUSE OF AN INCIDENT WHICH OCCURRED WHILE IN COLLEGE. I WAS CHARGE WITH MISDEMEANOR BATTERY FOR GETTING INTO A BAR FIGHT. I WAS GIVEN SUPERVISION WITH EXPULSION AFTER ONE YEAR. THIS INCIDENT OCCURRED OVER TWO YEARS AGO. WISCONSIN SENT A LETTER REQUESTING THIS DETAILED INFORMATION AND THE FINAL DISPOSITION FOR THE COURT (WHICH I HAVE ABSOLUTELY NO PROBLEM PROVIDING TO THEM). HOWEVER, THIS INFORMATION WAS SENT TO AN OLD ADDRESS AND WHICH WAS RETURNED TO THEM. (A REPRESENTATIVE OF THE WIS. DEPT. OF INS. VERIFIED THIS BY TELLING ME THAT THEY HAVE THE RETURNED LETTER IN MY FILE.) SINCE I WAS NOT ABLE TO RETURN THE REQUESTED INFORMATION TO THEM WITHIN THE 30 DAY LIMIT AFTER RECEIVING THE LETTER (WHICH I NEVER RECEIVED AND THEREFORE DID NOT KNOW I HAD TO) MY LICENSE APPLICATION WAS DENIED. UPON REQUEST I WILL PROMPTLY PROVIDE THAT INFORMATION TO THE STATE.
8/16/2004
Regulatory
Final
Initiated By
STATE OF WISCONSIN OFFICE OF THE COMMISSIONER OF INSURANCE
Allegations
MR. RIBICH'S APPLICATION FOR A STATE OF WISCONSIN INSURANCE LICENSE WAS FORMALLY DENIED AFTER THE STATE MADE NUMEROUS REQUESTS BY CERTIFIED MAIL FOR INFORMATION PERTAINING TO HIS DISCLOSURE HISTORY.
Resolution
Decision
Sanctions
Revocation/Expulsion/Denial
Sanction Details
MR. RIBICH'S APPLICATION FOR A STATE OF WISCONSIN INSURANCE LICENSE WAS DENIED FOR FAILURE TO PROVIDE INFORMATION IN A TIMELY MANNER.
Broker Comment
THIS MATTER ORIGINATED FROM THE FAILURE OF MR. RIBICH TO UPDATE HIS ADDRESS AND/OR LEAVE A FORWARDING ADDRESS UPON MOVING.
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.