FINRA Banishes Merrill Lynch’s Christopher Hellman For Stonewalling Investigation

The Financial Industry Regulatory Authority (“FINRA”) barred Merrill Lynch securities broker Christopher Charles Hellman (CRD#: 6584084, Boca Raton, Florida) for failing to provide information to FINRA during its investigation of Hellman’s possible private securities transactions and outside business activities. Evidently, Mr. Hellmann submitted a Letter of Acceptance of Waiver and Consent #2018060168801, which FINRA accepted on December 13, 2018. Notably, the AWC stated that Mr. Hellman violated FINRA Rules 8210 and 2010.

Merrill Lynch Informs FINRA About Terminating Christopher Hellman For Selling Away

Merrill Lynch advised FINRA in October 2018 that it terminated Mr. Hellman for his alleged involvement in private securities transactions and outside business activities. Specifically, Merrill Lynch claimed that Mr. Hellman failed to comply with its standards about selling away. Also, the firm stated that he did not disclose the specifics of his business activities occurring outside the scope of his securities position at Merrill Lynch.

Christopher Hellman Disrupts FINRA Investigation Into His Private Securities Transactions, Outside Business Activities

Supposedly, after being terminated, FINRA asked Mr. Hellman to provide it documents and information relating to Merrill Lynch’s allegations against him. However, Mr. Hellman’s legal counsel told FINRA that Mr. Hellman was not going to produce the documents and information. Not surprisingly, by refusing to cooperate with FINRA’s request, FINRA prohibited Mr. Hellman from being a broker or associating with any broker in any and all capacities. As a result, FINRA essentially ended Mr. Hellman’s career in the securities industry.

Also, at least two Merrill Lynch investors have come forward with complaints about Mr. Hellman’s misconduct. Here is a summary of those disputes:

November 28, 2018 Arbitration Alleging Christopher Hellman’s Private Securities Transactions

A Merrill Lynch customer brought FINRA Arbitration #18-04047 in regard to Mr. Hellman’s private investment transactions. Specifically, the customer claimed that Mr. Hellman sold the customer investments away from Merrill Lynch in May 2017. Also, Mr. Hellman allegedly misappropriated the Merrill Lynch customer’s funds. Because of this, the customer is seeking $155,000 in compensation in this pending matter.

September 17, 2018 Arbitration Alleging Misappropriation Of Merrill Lynch Customer Funds

Evidently, a Merrill Lynch customer filed a complaint on September 17, 2018 about Mr. Hellman. Supposedly, Mr. Hellman stole the customer’s investment funds in October 2017 in connection with municipal debt transactions. As a result, Merrill Lynch agreed to pay the customer $440,000 to settle the matter. However, Merrill Lynch did not admit to the firm’s or Mr. Hellman’s liability.

Lars Soreide Highest Ethical Standard Award 2018

Lars Soreide Highest Ethical Standard Award 2018

If you have experienced losses by investing with Merrill Lynch broker Christopher Mr. Hellman, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represent clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.