January 7, 2020

SCOTT MADISON Allegedly Churned Account

FINRA stock Broker losses

Merrill Lynch's Scott Madison Allegedly Churned Investor's Account

The Financial Industry Regulatory Authority (“FINRA”) reports troubling information about Merrill Lynch securities broker Scott Madison (CRD#: 4323032, Beverly Hills, California). Namely, at least two of Madison’s clients contested his sales practices. These client disputes raise serious questions about whether Madison made unauthorized trades and provided poor investment advice. Here’s more:

Merrill Lynch Client Indicates That Scott Madison Churned Account

Evidently, a client of Merrill Lynch brought FINRA Arbitration #: 19-03299 on November 7, 2019. First of all, the client indicated that Scott Madison made unauthorized trades. It appears that Madison purchased or sold OTC equities without the client’s knowledge or permission. Secondly, the client alleged that the broker made unsuitable recommendations. Perhaps Madison failed to have a reasonable basis to believe that the OTC equities were suitable when taking into account the client’s risk tolerance or other criteria. Finally, Madison allegedly churned the client’s account from 2017 to 2019. It is possible that Madison traded mainly to generate commissions from the client. For this reason, the client demanded $600,000 in compensatory relief in this ongoing matter.

Credit Suisse Client Suggests That Madison Arranged Bad Auction Rate Securities Transaction

Previously, Scott Madison worked for Credit Suisse Securities. Apparently, one of his Credit Suisse clients brought FINRA Arbitration #: 11-02968. Namely, the client suggested that Madison recommended or sold a bad auction rate security (ARS) which poorly performed. It is also possible that Madison misrepresented the asset backed debt security as safe, which caused the client to invest in the first place. Evidently, Credit Suisse Securities opted to pay the client $800,000 to resolve the dispute.

Losses Because Of Scott Madison’s Investment Recommendations?

Lars Soreide Highest Ethical Standard Award 2018
Lars Soreide Highest Ethical Standard Award 2018

Have you experienced losses from unsuitable recommendations or sales by Merrill Lynch securities broker Scott Madison? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have suffered losses due to misconduct of brokers and brokerage firms.

S H A R E   T H I S   P O S T

Recent Posts

August 17, 2026
Jeffrey L Bangerter of Concorde Investments & Formerly of Berthel Fisher

Soreide Law Group has filed a FINRA arbitration on behalf of our clients (Claimants) against: CONCORDE INVESTMENTS SERVICES, LLC, and BERTHEL, FISHER & COMPANY FINANCIAL SERVICES, INC (Respondents). The Claimants are in their late 70s, retired, and according to the lawsuit, were not looking to take any unnecessary risks with their retirement savings.  The Claimants […]

August 17, 2026
THEODORE W BYRER Suspended by FINRA

THEODORE WILLIAM BYRER (THEODORE W BYRER, TED BYRER) was registered as a broker with MORGAN STANLEY of Indianapolis, Indiana, from 11/11/2013 - 04/20/2023. He was most recently registered with INTERNATIONAL ASSETS ADVISORY, INC of Westfield, Indiana, from 05/09/2023 - 09/17/2024. According to his BrokerCheck CRD report, dated 7/23/2026, THEODORE W BYRER was suspended for 14 […]

August 13, 2026
MARK L SULLIVAN Fined and Suspended

MARK LAWRENCE SULLIVAN (MARK SULLIVAN, MARK L SULLIVAN), formerly with UBS Wealth Management USA in New York City, was fined $10,000 and suspended for three months by the Financial Industry Regulatory Authority (FINRA) over allegations that he traded in customers’ accounts without the proper approval. Sullivan was previously registered both as a broker and as an […]

Contact us Nationwide USA
2401 E. Atlantic Blvd., Suite 305, Pompano Beach, FL 33062
Helping clients recover money across the USA
search
Copyright © 2025 Soreide Law Group, PLLC  |  All Rights Reserved