Michael Vincent Foley of Upper Arlington Ohio a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related arbitration claim which settled for $28,642.26 in damages founded on accusations that between March of 2010 and June of 2016: (1) misrepresentations were made to the customer concerning mutual funds held in the customer’s account (2) unauthorized mutual fund trades were placed in the customer’s account. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-01735 (Dec. 22, 2017).
FINRA Public Disclosure confirms that Foley is referenced in two more customer initiated investment related disputes pertaining to allegations of his misconduct while employed with Merrill Lynch Pierce Fenner Smith Inc. In particular, on March 6, 2000, a customer filed an investment related complaint concerning Foley’s conduct where the customer sought $9,734.00 in damages supported by accusations that Foley made false or misleading statements to the customer concerning the risk of investments that Foley recommended for the customer to purchase.
Moreover, a customer initiated investment related arbitration claim regarding Foley’s activities was resolved for $75,000.00 in damages based upon allegations that the customer was inappropriately advised in regard to equities held in the customer’s account. FINRA Arbitration No. 09-05305 (Nov. 4, 2010).
Foley has been employed by Merrill Lynch Pierce Fenner Smith Inc. since April 11, 1995.
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