Category Archives: Merrill Lynch

Cetera Advisors, FINTEGRA LLC, Merrill Lynch, Misrepresentation, Unsuitable Investments

Mohamed Debbagh-Former Cetera Advisors Broker-Discloses Pending Customer Suit-Boca Raton, FL

April 2018 -Boca Raton, FL

According to FINRA records, Mohamed Debbagh,  a   stockbroker who was recently  employed by Cetera Advisors  , disclose  a pending dispute by a former customer.

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 currently pending FINRA Case 18-0840 a customer of Debbagh while he was employed by  Cetera Advisors and Fintegra is seeking damages of $209,000. The customer alleges breach of fiduciary duty, negligence, misrepresentation, common law fraud, unsuitable trading and violations of securities laws.

Debbagh is currently employed by Merrill Lynch. He was employed by Cetera Advisors from 3/2013-11/2017. Prior to that he was employed by Fintegra, LLC from 3/2010-3/2013. Fintegra withdrew their FINRA registration in 9/2015 and filed for bankruptcy that same month.

If you have questions about an account handled by Mohamed Debbagh , contact us for a no charge consultation.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Churning, Discretionary Trading, Failure to Supervise, Finra Investigation of Stockbroker, FIrst Financial Equity, Merrill Lynch, Stockbroker Discharged, Stockbroker Malpractice, Unsuitable Investments

Joseph I. Yanofsky-Former Merrill Broker-Subject of $2.2M Customer Dispute-Greenwood, CO

April 2018-Greenwood Village, Colorado

According to FINRA records, former Merrill Lynch broker Joseph I. Yanofsky , discloses a recent regulatory suspension, a pending customer dispute, a termination from employment and 8 prior customer disputes that are final.

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 September 2017 Yanofsky was fined $10,000 and suspended for 20 business days to resolve FINRA allegations that he exercised discretion in nine customer accounts while at Merrill Lynch.

Yanofsky was registered with Merrill Lynch from 2/1990-5/2015, when he was discharged. In connection with his discharge  , Merrill made the following allegations:

“allegations relating to exercising discretion in non-discretionary accounts, providing inaccurate responses to related internal compliance questionnaires, directing an employee to enter trades utilizing another employee’s user identification and password and failing to report a customer complaint on a timely basis”

In a pending matter, a customer of Merrill Lynch alleges that Yanofsky failed to follow instructions, made unauthorized trades, excessively traded the account and made unsuitable investment recommendations from 2/2013-4/2015. Damages are alleged to be $2,268,095.

In a prior FINRA Case 15-2143, a Merrill Lynch customer alleged unsuitable recommendations and misrepresentations from 2012 to 2015 and sought damages of $400,000. That matter was settled in 7/2016 for $75,000.

Joseph Yanofsky is currently registered with First Financial Equity Corp. in Greenwood, CO.

If you have losses in an account handled by Joseph I. Yanofsky   you may be able to recover damages through FINRA arbitration. Call for a no charge consultation to discuss your options.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Broker borrowing Money from customer, Failure to Supervise, Merrill Lynch, Morgan Stanley, Morgan Stanley Smith Barney, Stockbroker Discharged, Stockbroker Malpractice, Theft

Vicente Davila-Former Morgan Stanley Broker-Discloses -Customer Complaint/Discharged From Employment-Houston, TX

March 2018- Houston, TX

The FINRA records of Vicente Davila, a stockbroker who is not currently registered with any broker dealer and who was last employed by Morgan Stanley , disclose a recently resolved customer dispute,  and a termination from employment.

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 February 2018 a customer of Morgan Stanley filed a complaint alleging that he had loaned money to Davila and that additional funds were missing from his account for the time period of June 2017 – December 2017. In February 2018 that matter was settled for $77,684.

Vicente Davila was employed by Morgan Stanley since 4/2016. In February 2018 he was discharged by Morgan Stanley who made the following allegations on Davila’s FINRA record: “Allegations regarding the representative’s undisclosed loan from a client and his conduct involving subsequent money transfers from the same client’s account to a personal bank account of the representative and his wife.”

Davila was employed by Merrill Lynch from 11/2009-5/2016.

If you have questions about an account handled by Vicente Davila , 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.

Nationwide Representation

Rex Securities Law

National Toll Free: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Coastal Equities, Failure to Supervise, J.W. Cole Financial, Merrill Lynch, Stockbroker Discharged, Stockbroker Malpractice, Unsuitable Investments, Wells Fargo

Bill Downing-Former J.W. Cole Finanical Broker-Discloses Customer Dispute-Wimberley, Texas

March 2018-Wimberley, Texas

The FINRA records of  William (Bill) G. Downing ,  a  stock broker who is employed by Coastal Equities Inc.  disclose  a  prior customer dispute and 2 terminations from employment.

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 FINRA Case 11-03772, a customer of Downing’s prior employer, Wells Fargo Advisors, alleged that he was sold unsuitable investments. That matter was settled for $162,500.

Downing has been employed by Coastal Equities (dba The Hill Country Advisor)  since 8/2017. Prior to that he was with J.W. Cole Financial 12/2012-6/2017.

In 7/2012, Downing was discharged from Merrill Lynch who made the following allegation on Downing’s FINRA record: “(1) Mismarking solicited trades as unsolicited (2) Exercising discretion in certain client accounts and (3) Communicating with an unauthorized third party.”

In 12/2000 Downing was discharged from Morgan Keegan for writing checks on his wife’s account.

If you have questions about an account handled by Bill Downing call for a no charge consultation to learn about your options.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Failure to Supervise, Merrill Lynch, Selling Away, Stockbroker Discharged, Stockbroker Malpractice, Sunbelt Securities

Melvin S. Jacobs-Former Merrill Lynch Broker-Discloses Termination for Selling Unauthorized Investments-Houston, TX

March 2018 – Houston, TX

According to publicly available records , Melvin (“Mel”) S. Jacobs , (CRD# 1361940) ,  a  stockbroker who was previously employed by Merrill Lynch, Pierce, Fenner & Smith,  disclose  that he was recently discharged by Merrill Lynch and a prior customer dispute.

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.

Jacobs is currently employed by Sunbelt Securities in Houston. He was employed by Merrill Lynch from 5/2009-1/2018. In December 2017 Merrill Lynch discharged Jacobs and made the following allegation on his FINRA record: “Conduct inconsistent with Firm policy regarding selling away.”

SELLING AWAY

In the brokerage industry “Selling Away” is the inappropriate practice of a stockbroker soliciting and selling securities not held or offered by the brokerage firm he is employed by. Generally these are private deals that the firm has not performed any due diligence on.

If you have questions about an account in an account handled by Melvin S. Jacobs , contact us for a no charge consultation to discuss your legal options.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870