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Quiros v Merrill Lynch - $500,000 Award

In November 2010, a FINRA arbitration panel in Los Angeles ordered Merrill Lynch to pay compensatory damages of $500,000 to Claimant William Quiros. Claimant alleged that Merrill Lynch failed adequately to supervise the securities-related activities of two registered representatives, one of whom was conducting business away from his branch office. Claimant also alleged fraud and misrepresentation in connection with the offering of a security Merrill Lynch had not approved for sale. On behalf of the claimant, Mr. Meyer testified about a broker-dealer's duty to supervise all the securities-related activities of its associated persons.

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Paul F. Meyer
Principal310.917.1075