March 23, 2015
The Wall Street Journal reports that Merrill Lynch was ordered to pay $2.5 million to to Massachusetts Securities Regulators to resolve claims that it gave internal presentations in Boston in 2013 that violated its own compliance policies.
According to the WSJ, the presentations, which were not first reviewed by Merrill compliance, included training on ways for advisers to double production by transferring existing customer assets from commission-based brokerage accounts to fiduciary based alternatives.
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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