Joseph Edward Torres, of Staten Island, New York, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Incorporated, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $95,000.00 in damages based upon allegations that Torres failed to follow instructions, made misrepresentations, and engaged in unauthorized trading of exchange-traded funds when Torres was associated with Merrill Lynch. FINRA Arbitration No. 21-01923 (August 9, 2022).
This is not the first time that Torres has been referenced in a customer initiated investment related dispute concerning Torres’ conduct in the securities industry. FINRA Public Disclosure shows that Torres was also referenced in a customer initiated investment related complaint in which the customer requested $9,000.00 in damages based upon alleged misstatements, resulting in losses. The complaint was denied.
An NASD securities arbitration claim involving Torres’ conduct, which was settled for $80,000.00 in damages. The allegations were that Torres was negligent, breached his fiduciary duties, and made misrepresentations and omissions in connection with the sale of options during the time that Torres was associated with UBS PaineWebber Inc. NASD Arbitration No. 99-00792.
Since November 16, 2007, Torres has been associated with Merrill Lynch in Staten Island, New York, as a stockbroker and an investment advisor representative.
