Steve Nguyen: Merrill Advisor Faced Misappropriation Complaint

Boston, Massachusetts financial advisor Steve Nguyen (CRD# 6283575) allegedly misappropriated customer funds, according to a recent, denied investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Merrill Lynch.

Mr. Nguyen’s BrokerCheck report discloses one investor complaint. Filed in May 2026, it alleged that as a representative of Merrill Lynch, he misappropriated customer funds between July 2024 and May 2026. The complaint alleged unspecified damages and was denied by the firm.

For reference, FINRA rules forbid brokers like Mr. Nguyen from misusing their clients’ funds. FINRA Rule 2150 specifically stipulates that no registered representative “shall make improper use of a customer’s securities or funds.” The misappropriation of investor funds may also violate FINRA Rule 2010, which requires brokers to “observe high standards of commercial honor and just and equitable principles of trade” as they conduct their business. Brokers who violate these rules may be found liable for damages in the event of losses.

According to the Financial Industry Regulatory Authority, Steve Nguyen holds seven years of securities industry experience. Based in Boston, Massachusetts, he has been registered as a broker and an investment advisor with Merrill Lynch since 2020. His past registrations include Santander Securities, Merrill Lynch, and Citizens Securities. His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; the General Securities Representative Examination, or Series 7; and the Investment Company Products/Variable Contracts Representative Examination, or Series 6. He holds 28 state licenses. (Information current as of June 21, 2026.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.