FINRA Fines Christopher Eriksson

Soreide Law Group is investigating possible investor claims against securities broker Christopher Thomas Eriksson (CRD: 2487298, Wayzata, Minnesota). Notably, FINRA sanctioned the securities broker, who worked for Merrill Lynch Pierce Fenner Smith Inc. Allegedly, Eriksson borrowed client funds and engaged in an undisclosed outside business activity. Here is a brief summary of FINRA’s allegations against Eriksson.

FINRA Sanctions Eriksson For Client Loan

Evidently, on November 9, 2022, FINRA issued Case: Acceptance, Waiver, and Consent No. 2020063025901 sanctioning Christopher Thomas Eriksson for infractions. Specifically, Eriksson was fined and suspended as a securities broker. Evidently, FINRA alleged that Eriksson borrowed client funds and engaged in an undisclosed outside business activity.

Christopher Eriksson Discharged For Outside Business Activities

Supposedly, on October 20, 2020, Merrill Lynch Pierce Fenner Smith Inc. disaffiliated with Eriksson. Notably, Merrill Lynch Pierce Fenner Smith Inc. alleged that Eriksson engaged in an undisclosed outside business activity.

Merrill Lynch Pierce Fenner Smith Inc. Investor Accuses Eriksson Of Unauthorized Trading

Supposedly, on September 22, 2020, a Merrill Lynch Pierce Fenner Smith Inc. client filed FINRA Arbitration: 20-03292 about Christopher Eriksson. Namely, the client alleged that Eriksson engaged in unauthorized trading, made unsuitable recommendations, and borrowed client funds. Because of this, the client allegedly sustained damages. Therefore, the client requested $20,000,000 in compensation from Merrill Lynch Pierce Fenner Smith Inc. or Eriksson. Evidently, this arbitration is pending a resolution.

Christopher Eriksson Discloses Unsuitable Recommendations Allegations By Prudential Securities Incorporated Client

Particularly, a client of Prudential Securities Incorporated contested Christopher Eriksson’s sales practices by filing NASD Arbitration: 02-05987. Allegedly, Eriksson gave unsuitable advice and engaged in excessive trading. It appears that Eriksson caused the client to sustain damages on equities. Therefore, Prudential Securities Incorporated opted to settle the matter on August 19, 2004, by compensating the client in the amount of $25,000.

Prudential Securities Incorporated Investor Accuses Eriksson Of Breach Of Fiduciary Duty

Also, a Prudential Securities Incorporated client filed NASD Arbitration: 04-00366 about Christopher Eriksson. Namely, the client alleged that Eriksson breached a fiduciary duty, made misrepresentations, made omissions, made unsuitable recommendations, and engaged in unauthorized trading. Because of this, the client allegedly sustained damages on stocks. Therefore, on July 2, 2004, a NASD Arbitration Panel issued an Award ordering Prudential Securities Incorporated or Eriksson to pay the client $15,534.02 in damages.

Eriksson Employment Information

Eriksson worked for Merrill Lynch Pierce Fenner Smith Incorporated in Wayzata, Minnesota, as a securities broker from January 14, 2005, to November 18, 2020.

Did Merrill Lynch Pierce Fenner Smith Inc. Securities Broker Christopher Eriksson Cause You To Experience Damages?

Suffer damages because of Christopher Eriksson? If you have, contact Soreide Law Group at (888) 760-6552 and talk with a securities attorney about a possible recovery of your losses. Soreide Law Group, who has recovered money for investors across the United States, represents investors on a contingency fee basis and advances costs. Eriksson and brokerage firms Eriksson worked for deny any and all allegations of sales practice violations.