Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on October 1, 2016 indicate that former New Mexico-based Merrill Lynch broker Marshall Sale is currently not affiliated with any broker-dealer firm. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Sale (CRD# 409264).
Marshall Sale has spent 49 years in the securities industry and was most recently registered with Merrill Lynch in Santa Fe, New Mexico (1978-2016). He was previously registered with Merrill Lynch (1967-1978). He is currently not registered with any state or firm.
According to his BrokerCheck report, Marshall Sale has received two customer complaints and was discharged from Merrill Lynch.
In August 2016 Marshall Sale was terminated from his position at Merrill Lynch following allegations of “Failure to adhere to Firm standards regarding selling away, and exercising discretion in a non-discretionary cilent’s [sic] account.”
In 2010 a customer alleged he, while employed at Merrill Lynch, misrepresented material facts and made unsuitable investment recommendations from January 2006 through December 2009. The complaint settled in 2011 for $90,000.
In 2009 a customer alleged he, while employed at Merrill Lynch, misrepresented material facts related to investments in auction rate securities and closed end funds. The complaint settled for $150,000.
According to FINRA rules, brokers like Marshall Sale are prohibited from “Purchasing or selling securities in a customer’s account without first contacting the customer and receiving the customer’s authorization to make the sale or purchase, unless the broker has received from the customer written discretionary authority to effect transactions in the account or the broker was given discretion as to price and time.” Brokers who exercise discretion without proper authorization may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you or someone you know has complaints regarding Marshall Sale, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on contingency: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.