Menard Sanford Schwartz of Chicago Illinois a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related written complaint which settled for $61,883.00 on January 10, 2017 founded on accusations that investment recommendations made to the customer were not suitable concerning over-the-counter equities held in their accounts.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Schwartz has been identified in five more customer initiated investment related disputes pertaining to allegations of his violative conduct during the time that he was associated with Merrill Lynch. Particularly, a customer initiated investment related arbitration claim regarding Schwartz’s conduct was resolved for $85,000.00 in damages supported by accusations that misrepresentations were made to the customer concerning equities products; bad investment advice had been provided to the customer concerning investments; and trades were effected in the customer’s account without the customer’s permission. FINRA Arbitration No. 09-06867 (July 19, 2011).
Thereafter, a customer initiated investment related arbitration claim involving Schwartz’s activities was settled for $8,345.00 in damages based upon allegations that Schwartz gave the customer poor advice concerning the customer’s purchase of closed end funds. FINRA Arbitration No. 12-03897 (Dec. 9, 2013).
Schwartz has been employed by Merrill Lynch since September 26, 1978.
