Alexander Steven Batt, of Vero Beach, Florida, a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith, is referenced in a customer initiated investment related written complaint that was settled for $51,678.00 in damages on January 21, 2020, founded on accusations of unauthorized trading involving a private equity fund when Batt was associated with Merrill Lynch. According to the claim, the customer did not sign a submission agreement relating to the private equity fund.
This is not the first customer to have alleged sales practice violations by Batt during the time that he was employed by Merrill Lynch. Financial Industry Regulatory Authority (FINRA) Public Disclosure also shows that a customer initiated investment related FINRA securities arbitration claim concerning Batt’s activities was resolved for $55,000.00 in damages supported by allegations of omissions and misrepresentations by Batt relating to stock trades at Merrill Lynch. FINRA Arbitration No. 16-00975 (December 12, 2016). According to the claim, Batt made unsuitable investment recommendations to the customer, resulting in damages.
Batt was registered as a stockbroker and investment adviser representative of Merrill Lynch between July 22, 2010, and July 9, 2019. Since July 2, 2019, he has been registered as a stockbroker and investment adviser representative of Wells Fargo Advisors Financial Network LLC.
