Thomas Brian Healy of Albany New York a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. has been discharged on July 24, 2017 supported by allegations that Healy failed to comply with Merrill Lynch’s policies and trainings.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Healy has been identified in three customer initiated investment related disputes containing accusations of his transgressions while employed with Prudential Securities Inc., Smith Barney Inc. and Merrill Lynch.
Specifically, a customer initiated investment related arbitration claim concerning Healy’s activities was settled for $210,000.00 in damages founded on allegations that Healy negligently transacted in the customer’s account; breached a fiduciary duty owed to the customer; breached his contractual obligations; effected unauthorized trades in the customer’s investment account; misrepresented the terms and conditions of investments; churned the customer’s portfolio; invested the customer’s assets in securities that did not reflect the customer’s objectives for investing; and defrauded the customer. National Association of Securities Dealers (NASD) Arbitration No. 98-00432 (Aug. 20, 1998).
Subsequently, Healy was subject of a customer initiated investment related arbitration claim where the customer was awarded $21,728.00 in damages based upon Healy being found by the Panel to be liable for effecting unauthorized trades in the customer’s individual retirement account and personal account, breaching a fiduciary duty to the customer, and failing to supervise the activities in the customer’s account. NASD Arbitration No. 00-01033 (June 8, 2001).
Thereafter, on September 17, 2015, a customer filed an investment related complaint concerning Healy’s conduct in which the customer sought $75,000.00 in damages based upon accusations that corporate debt investment recommendations made to the customer were not suitable.
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