Robert Thomas Steck of Great Neck New York a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested unspecified damages supported by accusations that between 2012 and 2017, misrepresentations had been made to the customer concerning over-the-counter equities and the customer was poorly advised regarding equity investments. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01460 (Apr. 23, 2018).
FINRA Public Disclosure confirms that Steck has been identified in five additional customer initiated investment related disputes containing allegations of Steck’s sales practice violations while employed with Merrill Lynch. Specifically, on July 23, 2001, a customer filed an investment related complaint regarding Steck’s activities in which the customer sought $50,000.00 in damages founded on accusations of an inappropriate allocation of mutual fund investments in the customer’s account.
Then, a customer initiated investment related arbitration claim concerning Steck’s activities was settled to resolve allegations of suitability pertaining to the customer’s investment in Merrill Lynch Focus Twenty Fund. National Association of Securities Dealers (NASD) Arbitration No. 02-00627 (Oct. 18, 2002). Subsequently, a customer initiated investment related arbitration claim involving Steck’s activities was settled for $80,000.00 in damages based upon accusations of misrepresentation and suitability pertaining to mutual fund transactions executed in the customer’s account. New York Stock Exchange (NYSE) Arbitration No. 2002-010183 (May 9, 2002).
Moreover, on July 17, 2003, a customer filed an investment related complaint involving Steck’s conduct where the customer requested $14,809.00 in damages supported by allegations that Steck effected unsuitable mutual fund transactions in the customer’s investment account. On November 23, 2015, another customer filed an investment related complaint concerning Steck’s activities in which the customer alleged that investment instructions were not followed.
Steck has been registered with Merrill Lynch since April 2, 1986.
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