Investors continue to dispute the sales practices of securities broker Sylvester Knox (CRD#: 1625705, Short Hills, New Jersey). Namely, the securities broker, who Merrill Lynch disaffiliated with in 2017 for allegedly making unauthorized trades and misrepresentations, is entangled in 25 client disputes. These client disputes, disclosed on FINRA BrokerCheck, suggest that the broker misrepresented investments among other things. In addition, Florida and Michigan securities regulators sanctioned Knox for bad business practices. Here’s more:
Merrill Lynch Client Suggests That Sylvester Knox Made Unauthorized Trades
Apparently, a client of Merrill Lynch contested Sylvester Knox’s sales practices through a complaint dated May 29, 2018. Namely, the client suggested that Knox made unauthorized trades. Supposedly, Knox purchased or sold municipal debt products for the client’s account without the client’s knowledge or consent. For this reason, Merrill Lynch compensated the client through a settlement dated December 3, 2018.
Knox Allegedly Misrepresents Information About Bonds
A second Merrill Lynch client took aim at Sylvester Knox’s sales practices through a complaint dated May 18, 2017. Allegedly, Knox misrepresented and omitted facts about municipal debt investments. It is possible that Knox falsified information about the risks or terms of investments that the client held from 2012 to 2017. Because of this, on July 12, 2017, Merrill Lynch opted to settle this matter through a payment of $300,000 to the client.
Merrill Lynch Clients Indicate That Sylvester Knox Gave Bad Investment Advice
Evidently, clients of Merrill Lynch complained about Sylvester Knox on March 13, 2017. First of all, the clients contended that Knox gave bad investment advice from 2010 to 2017. Secondly, the clients indicated that Knox falsified information and concealed facts about the investments. However, Merrill Lynch denied the complaint in 2017.
Florida, Michigan Securities Bureaus Deny Knox’s Registration As Broker
In addition to client disputes, Sylvester Knox also discloses adverse regulatory actions. Namely, on December 18, 2018, Florida Office of Financial Regulation issued an Order denying Knox’s registration. Allegedly, Knox lied or otherwise made inaccurate statements to Florida Office of Financial Regulation when he tried to become registered as a broker. Not only that, but on May 24, 2018, Michigan Securities Bureau issued an Order requiring Knox to withdrawal his registration as a securities agent. Allegedly, Knox filled false or misleading information with Michigan Securities Bureau.
Did Sylvester Knox Misrepresent Your Municipal Debt Investments?
Did you experience losses because of Merrill Lynch securities broker Sylvester Knox? 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.