Jack Edward Newhouse of Muskegon, Michigan, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Incorporated, was the subject of a customer initiated investment related complaint filed on December 27, 2022. The customer requested compensatory damages based upon allegations that Newhouse made unsuitable investment recommendations and misrepresentations in connection with the purchase of variable annuities during the time that Newhouse was associated with Merrill Lynch Pierce Fenner Smith Incorporated. The securities broker dealer denied this complaint.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Newhouse has been identified in five other customer initiated investment related disputes containing allegations of his conduct while associated with securities broker dealers. Newhouse faced a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled on December 20, 2010, for $10,000.00. FINRA Arbitration No. 10-00689. The claim alleged that Newhouse engaged in unauthorized and unsuitable trading in annuities during the time that he was associated with UBS Financial Services Inc.
Newhouse was involved in a customer complaint received on January 18, 2018. This complaint, which resulted from activities at Merrill Lynch Pierce Fenner Smith Incorporated between August 2017 and November 2017, alleged failure to follow instructions related to index options. The case was settled on May 15, 2018, for $35,000.00.
Newhouse is also referenced in a customer initiated investment related complaint that was settled on November 22, 2023, for $37,187.50 in damages based upon allegations that Newhouse made misrepresentations of material fact and provided unsuitable advice to the customer about variable annuities when Newhouse was associated with Merrill Lynch.
On December 6, 2023, a different customer initiated an investment related complaint involving Newhouse’s conduct was settled to resolve allegations that Newhouse made misrepresentations of material fact and made unsuitable recommendations in variable annuities.
Newhouse was associated with Merrill Lynch Pierce Fenner Smith Incorporated in Muskegon, Michigan from March 27, 2009, to June 9, 2022.
