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Broker Spotlight: Merrill Lynch’s Gary Smith

stock-exchange-dataThe securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Florida-based Merrill Lynch broker/adviser Gary Smith (CRD# 1029560).

Gary Smith has spent thirty-two years in the securities industry and has been registered with Merrill Lynch, Pierce, Fenner & Smith in Ponte Vedra Beach since 2007. Previous registrations include A.G. Edwards & Sons in Dewitt, New York (1998-2007); MML Investor Services in Springfield, Massachusetts (1983-1998); and Massachusetts Mutual Life Insurance Company (1982-1988). He is a registered broker and investment adviser in ten US states: Colorado, Florida, New Hampshire, New Jersey, New York, Pennsylvania, South Carolina, Tennessee, Texas, and Washington.

Mr. Smith’s employer, Merrill Lynch, is the subject of 502 regulatory actions, four civil events, and 998 customer complaints that evolved into arbitration, according to the firm’s BrokerCheck report.

In September 2015 the Financial Industry Regulatory Authority (FINRA) sanctioned Merrill Lynch following allegations the firm failed to maintain a supervisory system reasonably designed to achieve compliance with rules and regulations pertaining to the display of locking or crossing quotations in over the counter securities. Merrill Lynch was censured and issued a fine of $17,500.

In August 2015 FINRA sanctioned Merrill Lynch following allegations, among others, the firm failed to display the terms and conditions on the memoranda of 82 brokerage orders. Merrill Lynch was censured and issued a fine of $70,000.

In May 2015 FINRA sanctioned Merrill Lynch following allegations, among others, the firm executed multiple orders with incorrect order origin codes, and failed to maintain supervisory protocol reasonably designed to prevent such. The firm was censured and issued a fine of $4,500,000.

If you have suffered losses while investing with Gary Smith or Merrill Lynch, you may be entitled to a recovery. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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