Investors Sue Merrill Lynch For Defective Investment Advice

4 DEAD ROACHES - Investors Sue Merrill Lynch For Defective Investment Advice

Arturo Rexach Mundo of Guaynabo Puerto Rico a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith is the subject of a customer initiated investment related arbitration claim where the customer sought $7,000,000.00 in damages supported by accusations that (1) misrepresentations had been made concerning government debt investments and (2) investment recommendations made by the stockbroker were not suitable and had caused the customer to experience unwarranted investment losses. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-03311 (Nov. 6, 2019).

FINRA Public Disclosure confirms that Mundo is referenced in twenty more customer initiated investment related disputes containing allegations of his misconduct when he was employed by UBS Financial Services and Merrill Lynch. Specifically, a customer filed an investment related arbitration claim involving Mundo’s conduct in which the customer requested $277,606.00 in damages founded on accusations of the customer being provided false or misleading information and bad advice from Mundo concerning mutual fund and municipal debt products held by the customer between December of 2012 and December of 2017. FINRA Arbitration No. 18-01407 (Apr. 17, 2018).

Mundo is referenced in another customer initiated investment related arbitration claim where the customer sought $622,000.00 in damages based upon allegations that between July of 2009 and July of 2018, the customer’s municipal debt investments were mispresented and wholly unsuitable for the customer. FINRA Arbitration No. 18-02474 (July 9, 2018). Also, a customer initiated investment related arbitration claim concerning Mundo’s conduct was settled for $120,000.00 in damages supported by accusations that risks, features, terms or other characteristics of mutual fund investments had been misrepresented; and the customer received poor advice from Mundo which caused the customer to invest in unsuitable investments generating losses for the customer’s account. FINRA Arbitration No. 18-02755 (Sept. 14, 2018).

Mundo has been employed by Merrill Lynch since June 25, 2009.