Broker Ryan Raskin Barred By Financial Industry Regulatory Authority

The Financial Industry Regulatory Authority (FINRA) announced that it expelled securities broker Ryan Ashley Raskin (CRD#: 5539610, Beverly Hills, California). Specifically, for refusing to cooperate in an investigation, the financial industry watchdog declared on January 13, 2021 that Raskin can no longer associate with FINRA firms. Not only that, but a Merrill Lynch client disputed the barred broker’s sales practices. Here’s more.

FINRA Bars Ryan Raskin In All Capacities For Refusing To Comply While Investigated

Evidently, FINRA barred Raskin to settle allegations of her violating FINRA Rule 8210. FINRA indicated that Raskin was supposed to provide information and documents by September 2020. It appears that Raskin faced these investigative requests because of Merrill Lynch reporting that it discharged Raskin, who worked for Merrill Lynch from 2016 to 2020.

Notably, Merrill Lynch reported that Raskin made inappropriate investment recommendations. Also, the firm stated that the securities broker allegedly failed to meet company standards. The financial industry watchdog grew suspicious of Raskin’s actions and asked her to clarify what happened. But Raskin did not comply.

Specifically, Ryan Raskin told FINRA that she did not intend to respond. By December 2020, FINRA sent another request because it did not receive anything back from Raskin. The securities broker told FINRA that she received its request and would unlikely comply. Eventually, she agreed to a bar for refusing to respond to FINRA’s instructions.

Merrill Lynch Client Alleges Churning In Dispute About Raskin

Apparently, a client of Merrill Lynch brought a dispute about Ryan Raskin. Namely, the client alleged in the September 2020 complaint that Raskin made unauthorized trades. It seems that the broker did not get the client’s authorization on certain mutual fund transactions. Additionally, the client indicated that Raskin churned the client’s account between January 2018 and January 2020. It is possible that the broker excessively traded to generate commissions given the churning allegations. However, Merrill Lynch denied the client’s claim in October 2020.

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Have you experienced losses because of Ryan Raskin? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced lawyers about a possible recovery of your investment losses. Soreide Law Group represents 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 the misconduct of financial advisors and securities brokers. FINRA BrokerCheck indicates that Raskin denies all allegations of her sales practice violations.