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March 26, 2014
Former Miami Merrill Lynch Broker Barred by FINRA

The following information was obtained on FINRA's Website under “Disciplinary and Other FINRA Actions, March, 2014.” Andres Enrique Rojas (CRD #4799671, Registered Representative, Miami, Florida) has been barred by FINRA for allegedly participating in impersonating a customer and obtaining online access to the customer’s account. Andres Rojas also made a false statement to his firm […]

November 7, 2013
Tallahassee Broker Sentenced for Stealing $1 Million from Clients

Former Bank of America Merrill Lynch broker, James R. Lanier of Tallahassee, Florida, pleaded guilty to 22 counts of fraud and related charges last November. He was sentenced to 8 years and 10 months in federal prison, and ordered to pay $887,931 in restitution. Also, the Securities and Exchange Commission (SEC) banned him from the […]

April 17, 2013
FINRA Awards $11 Million to Investor

A Financial Industry Regulatory Authority (FINRA) arbitration panel ordered a former employee of Merrill Lynch, Deutsche Bank, and Oppenheimer & Co. to pay nearly $11 million to an investor who alleged his broker, Karl Hahn, misrepresented securities and made excessive trades. The investor’s case against the former broker Karl Hahn, stems from transactions involving covered […]

June 22, 2012
B of A Merrill Lynch Fined $2.8 million by FINRA for Overcharging Customers

FINRA announced Thursday that Bank of America Merrill Lynch was fined $2.8 million  for supervisory lapses that led to its overcharging customers $32 million for the past eight years. According to the Financial Industry Regulatory Authority Inc. (FINRA) and the Bank of America Corp., Merrill Lynch has repaid 95,000 customers who were charged unwarranted fees due to computer coding issues […]

April 24, 2012
Banc of America Investment Services, Inc., Sanctioned by FINRA

The following information is from FINRA’s website under “Disciplinary Actions, April, 2012:”   Banc of America Investment Services, Inc. dba Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD #7691, New York, New York)  submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $55,000. The firm has already paid […]

December 7, 2011
Merrill Lynch Pays $315M to Settle Claims Over Asset-Backed Securities

In a December 6, 2011, article from Bloomberg News, we learn that Bank of America Corp. (BAC) reached a $315 million settlement with class action plaintiffs who sued its Merrill Lynch unit over claims tied to mortgage-backed securities, according to a filing in Manhattan federal court. Merrill Lynch was sued starting in December, 2008, by asset- […]

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