Merrill Lynch Terminates Stockbroker For Unapproved Recommendations
Johnathan Rankin of Dallas Texas a stockbroker registered with Merrill Lynch Pierce Fenner Smith Incorporated has been terminated by the securities broker dealer on September 18, 2019 based upon allegations that the stockbroker violated the securities broker dealer’s policies and procedures because he solicited investments without authorization and had failed to comply with Merrill Lynch’s inquiry regarding his investment related activities.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Rankin has been identified in two customer initiated investment related disputes concerning accusations of his misconduct during the time that the stockbroker was employed by securities broker dealers including Merrill Lynch. In particular, on February 18, 2016, a customer filed an investment related complaint concerning Rankin’s activities where the customer sought unspecified damages founded on accusations that when Rankin was employed by Merrill Lynch, misleading statements and omissions had been made in regard to the terms or risks of structured products sold to the customer.
Also, a customer filed an investment related complaint pertaining to Rankin’s conduct on February 6, 2018 in which the customer requested unspecified damages supported by allegations that when Rankin had been employed by Merrill Lynch, bad information pertaining to equity indexed annuities and variable annuities transactions had been concealed from the customer; and misleading statements were made by the stockbroker pertaining to the risks and drawbacks of those investments.