Juan Guillermo Herrans Barreras of Miami Florida a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim in which the customer requested $800,000.00 in damages based upon allegations that misrepresentations had been made to the customer regarding mutual funds and that the customer had received bad advice by Barreras during the time that he was associated with Merrill Lynch. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-02474 (Aug. 22, 2019).
FINRA Public Disclosure reveals that Barreras has been identified in four more customer initiated investment related disputes concerning accusations of his misconduct when he was employed by Merrill Lynch and UBS Financial Services Inc. On May 12, 2016, a customer initiated investment related arbitration claim in reference to Barreras’ conduct was resolved for $55,000.00 in damages based upon accusations of omissions and misrepresentations concerning the closed end funds and municipal debt investments sold to the customer when Barreras was associated with Merrill Lynch and UBS Financial Services. FINRA Arbitration No. 14-03656. According to the claim, the stockbroker’s investment recommendations failed to be suitable for the customer.
Barreras has been identified in another customer initiated investment related arbitration claim which was resolved for $250,000.00 in damages founded on accusations of inappropriate municipal debt transactions in the customer’s Merrill Lynch account by following the stockbroker’s recommendations. FINRA Arbitration No. 15-01060 (Dec. 9, 2016). Information relating to the customer’s investments had allegedly been concealed and misrepresented by the stockbroker.
On February 21, 2018, a customer initiated investment related arbitration claim regarding Barreras’ conduct was settled for $125,000.00 in damages supported by allegations of facts being misrepresented and omitted by Barreras in regard to the municipal debt investments selected for the customer’s account between January 2011 and December 2016. FINRA Arbitration No. 16-02517. The Merrill Lynch customer had allegedly received bad investment advice which led to losses.
Barreras is also referenced in a customer initiated investment related arbitration claim in which the customer requested $600,000.00 in damages based on accusations of poor investment recommendations and misrepresentations by Barreras pertaining to the mutual fund transactions facilitated in the customer’s Merrill Lynch brokerage account. FINRA Arbitration No. 19-00192 (Jan. 15, 2019).
Barreras has been registered with Merrill Lynch since June 21, 2010.
