Erez Law is currently investigating former Merrill Lynch, Pierce, Fenner & Smith Incorporated broker Steven Richardson (CRD# 1819383) regarding excessive trading. Steven Richardson has been registered with LPL Financial LLC in Danville, California since 2018. Previously, Steven Richardson was registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated in Walnut Creek, California from 1997 to 2018.
Steven Richardson Accused of Excessive Trading
Steven Richardson has been the subject of two customer complaints in 2019, one of which was closed without action, according to his CRD report:
April 2019. “The Attorney for the customer alleges excessive trading between January 1, 2010 until June 7, 2018.” The case was settled for $320,000. The complaint took place while Steven Richardson was registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Merrill Lynch, Pierce, Fenner & Smith Incorporated may be liable for investment or other losses suffered by Steven Richardson’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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