Edgar Shanoyan Barred By FINRA, Linked To Merrill Lynch Client Dispute

FINRA barred securities broker Edgar Sarkis Shanoyan [CRD: 6355599, Rutherford, New Jersey] and an investor complained about him, according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. It appears that Shanoyan worked for Merrill Lynch Pierce Fenner Smith Incorporated from June 27, 2016, to October 19, 2023. Keep reading to learn more about the disclosures involving Shanoyan.

Shanoyan Sanctioned By FINRA For Non-Cooperation

Notably, FINRA issued Case: 2024080950301 on January 16, 2025, sanctioning Edgar Shanoyan. Allegedly, Shanoyan failed to respond to FINRA’s requests for information. For this reason, Shanoyan was permanently barred from associating with any FINRA member in any capacity. FINRA previously suspended him from October 18, 2024, to January 15, 2025.

Merrill Lynch Investor Accused Edgar Shanoyan Of Unauthorized Activities

Particularly, a client filed a complaint about Edgar Shanoyan. Supposedly, Shanoyan engaged in unauthorized trading and made unauthorized withdrawals from her account. Because of this, the client allegedly sustained damages. As a result, on February 15, 2024, Merrill Lynch Pierce Fenner Smith Incorporated settled this matter by paying the client $24,000.00 in damages.

Shanoyan Discharged For Failure To Record Client Interactions

Evidently, Merrill Lynch Pierce Fenner Smith Incorporated disaffiliated with Shanoyan on October 10, 2023. Allegedly, Shanoyan failed to record client interactions through the firm’s tracking system.

Have You Made Investments Through Financial Advisor / Securities Broker Edgar Shanoyan?

Did you experience losses because of Edgar Shanoyan? You can reach out to Soreide Law Group online or at (888) 760-6552 and speak to a securities lawyer about a possible recovery. Soreide Law Group has recovered losses for investors throughout the United States. The law firm also takes cases on a contingency fee arrangement and advances all costs. Shanoyan and securities firms / investment advisories Shanoyan worked for deny accusations of sales practice violations.