Ernest Frerking – Former Merrill Lynch Broker-Barred From Securities Industry by Regulators, Discloses $200K Settlement -Austin, TX

Ernest Frerking – Former Merrill Lynch Broker-Barred From Securities Industry by Regulators, Discloses $200K Settlement -Austin, TX

Ernest Frerking – Former Merrill Lynch Broker-Barred From Securities Industry by Regulators, Discloses $200K Settlement -Austin, TX 150 150 ER

Ernest Frerking Investigation

February 2023- Austin, TX

According to publicly availble records Ernest Frerking, a former broker who last worked for Merrill Lynch,  discloses a final regulatory matter resulting in a permanent bar from the industry, a $200k settlement with a customer and a termination.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In 8/2022 FINRA permanently barred Frerking from the securities industry in all capacities to resolve allegations that he refused to appear for on-the-record testimony requested by FINRA.

In 7/2020, while employed by Merrill Lynch, Pierce, Fenner & Smith Incorporated,  an attorney for a deceased customer’s estate alleged misappropriation of funds.   The case settled for $200,000.

In 4/2021, Frerking was discharged from Merrill Lynch, Pierce, Fenner & Smith for conduct including failure to adhere to Firm standards regarding the servicing of a client and entering into a financial arrangement with a client without the Firm’s knowledge or approval.

Frerking was employed by Merrill Lynch from 9/2009  until he was barred from FINRA in 8/2022.

If you have questions about an account handled by Ernest Frerking contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

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Rex Securities Law

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