Merrill Lynch Sued By Investors For Unsuitable Trading

Jacquin P. Fink of New York New York a stockbroker formerly associated with Merrill Lynch has been referenced in a customer initiated investment related arbitration claim in which the customer requested $43,434.00 in damages supported by allegations that common and preferred stock recommendations failed to be suitable during the period in which Fink was employed by Merrill Lynch. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-00416 (Feb. 4, 2020).

FINRA Public Disclosure reveals that Fink has been identified in ten additional customer initiated investment related disputes containing allegations of his misconduct while employed by Merrill Lynch. Fink is the subject of a customer initiated investment related arbitration claim which was settled for $30,000.00 in damages based upon allegations of poor investment recommendations and misrepresentation of stock transactions by Fink relating to the Merrill Lynch customer’s account. FINRA Arbitration No. 16-00996 (Dec. 6, 2016).

On December 1, 2016, another customer initiated investment related arbitration claim in reference to Fink’s conduct was resolved for $402,500.00 in damages based upon accusations that trades were effected in the customer’s account in an excessive manner. The claim also alleges that misrepresentations and omissions and unsuitable investment recommendations had been made to the customer by Fink as it pertained to stock transactions. FINRA Arbitration No. 16-01043.

Fink has also been identified in a customer initiated investment related written complaint which was resolved for $205,732.34 on December 29, 2016 founded on accusations that the Merrill Lynch customer was provided with bad advice by Fink as it pertained to stock trades executed in the customer’s account. On December 13, 2018, another customer initiated investment related arbitration claim regarding Fink’s activities was settled for $75,000.00 in damages based on allegations of Fink’s failure to disclose information to the customer in regard to equities trades. FINRA Arbitration No. 17-02856. According to the claim, between December of 2007 and October of 2016, the Merrill Lynch customer was provided with poor stock recommendations by Fink.

On February 7, 2019, another customer initiated investment related arbitration claim concerning Fink’s conduct was settled for $263,000.00 in damages supported by allegations that the customer was invested in unsuitable municipal debt investments by following the stockbroker’s advice at Merrill Lynch. FINRA Arbitration No. 18-00018. Fink has also been referenced in a customer initiated investment related arbitration claim which was settled for $800,000.00 in damages supported by allegations of bad advice by Fink as it concerned over-the-counter equities, foreign debt and equities transactions which caused the Merrill Lynch customer to experience losses. FINRA Arbitration No. 19-00005 (Oct. 23, 2019).

Fink’s registration with Merrill Lynch has been terminated as of January 27, 2020.