Michael Brian Holder Jr. (also known as Mike Holder) of Dallas Texas a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he effected unauthorized trades in customers’ investment accounts while associated with Merrill Lynch. Letter of Acceptance Waiver and Consent No. 2017056676201 (Jan. 17, 2019).

According to the AWC, from December of 2016 to October of 2017, trades were placed by Holder on a discretionary basis in five Merrill Lynch customer accounts. The AWC revealed that a total of nineteen accounts had been owned by the five customers of the firm. In those accounts, Holder neither had the customers’ permission in writing to make discretionary trades, nor permission from the firm for purposes of his exercise of discretion. Consequently, FINRA found Holder’s conduct violative of FINRA Rule 2010 and National Association of Securities Dealers (NASD) Rule 2510(b).

FINRA Public Disclosure confirms that Merrill Lynch terminated Holder on November 8, 2017 based upon accusations of Holder engaging in discretionary trading and marking customers’ trades as unsolicited when Holder supposedly solicited the trades or executed them without the customers’ consideration.

Holder’s registration with Merrill Lynch has been terminated as of December 7, 2017.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source. Questions or comments regarding the source or accuracy of any information, including any subsequent developments, should be directed to [email protected].

This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer.

Guiliano Law Group, P.C.

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from all over the United States and several foreign countries. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at stockbrokerfraud.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com

Stockbroker Fraud. Securities Arbitration and Investment Fraud Lawyers.  
National Practice. Contingent Fee. Confidential Free Consultation. (877) SEC-ATTY

Tags: ,

No comments yet.

Leave a Reply

Name (required)

Email (will not be published) (required)

Website

%d bloggers like this: