Melvin Saul Jacobs of Houston Texas a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. has been terminated on December 14, 2017 based upon allegations that he sold away from his firm in violation of Merrill Lynch’s policy.
Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals that on February 11, 2009, a customer initiated investment related complaint pertaining to Jacobs’ conduct was settled for $38,201.75 in damages supported by accusations that the customer’s instructions were not followed regarding the liquidation of the customer’s managed account holdings during the time that Jacobs was associated with UBS Financial Services Inc.
Jacobs has been registered with Sunbelt Securities, Inc. since December 18, 2017.
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