Richard Aloysius Hogan of San Francisco, California, a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated, has been fines and suspended by FINRA for the unapproved sale or referral of a customer to a hedge fund. Letter of Acceptance Waiver and Consent No. 2019064715701.
According to the AWC, from October 2017 to August 2018, Hogan engaged in five private securities transactions concerning Asia-based funds that involved three separate customers at Merrill Lynch. Specifically, starting in October 2017 through August 2018, Hogan solicited Merrill Lynch customers to invest $630,000.00 in a Hong Kong equity fund and a Vietnam equity fund. Merrill Lynch did not offer investments in these funds. Hogan did not provide Merrill Lynch with prior written notice concerning his participation in these transactions. In December 2018, Hogan attested to Merrill Lynch that he had not solicited customers to invest in the funds, which was false. Hogan violated FINRA Rules 2010 and 3280.
Hogan is the subject of a customer initiated investment related complaint that was settled on September 15, 2020 for $24,069.00 in damages based upon allegations that Hogan took part in private securities transactions in connection with the recommendation of a hedge fund when Hogan was associated with Merrill Lynch Pierce Fenner Smith Incorporated.
From 2002 to 2020, Hogan was associated with Merrill Lynch Pierce Fenner Smith. Public Disclosure shows that Hogan was discharged by Merrill Lynch Pierce Fenner Smith Incorporated on June 4, 2020, based upon allegations that Hogan introduced customers to investments that Merrill Lynch did not authorize for sale.
