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Merrill Lynch Financial Advisor Shaun Hayes Received Seven Customer Complaints Alleging Unsuitable Trades

Posted on Wednesday, September 5th, 2018 at 6:57 pm    

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Erez Law is currently investigating Merrill Lynch financial advisor Shaun Hayes (CRD# 4963876) regarding unauthorized trades. Hayes has been registered with Merrill Lynch, Pierce, Fenner & Smith Inc. in Fort Worth, Texas from February 2012 to August 2017.

Hayes has been the subject of seven customer complaints in 2017, according to his CRD report. The complaints are regarding common and preferred stocks.

December 2017. “The Customer alleges unauthorized trading from May 2013 to December 2017.” The case is currently pending.

December 2017. “The Customer alleges unauthorized trading from February 2013 to December 2017.” The case is currently pending.

December 2017. “The customer alleges unauthorized trading from December 13, 2012 to December 15, 2017.” The case was settled for $71,000.

December 2017. “The customer alleges unauthorized trading from March 2013 to December 2017.” The case was settled for $139,000.

December 2017. “The customer alleges unauthorized trading from March 2013 to December 2017.” The case is currently pending.

December 2017. “The customer alleges unauthorized trading from January 2017 to March 2017.” The case was settled for $125,000.

August 2017. “The Customer alleges unauthorized trading from September 2016 to June 2017.” The case was settled for $20,000.

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 may be liable for investment or other losses suffered by Hayes’ customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.