Garden City, New York financial advisor (CRD# 5225102) has received multiple investor complaints alleging that his investment recommendations led to...Read More
John Cody: Fraud Complaint Against Los Angeles Advisor
Merrill Lynch financial advisor John Cody (CRD# 49467) recently received an investor complaint alleging he engaged in fraud and other forms of wrongdoing. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor based in Los Angeles.
Mr. Cody’s BrokerCheck report discloses one recent investor complaint. Filed in May 2022, it alleges that as a representative of Merrill Lynch, he committed fraud, mismanaged the account, charged excessive fees, and recommended unsuitable investments. The pending complaint alleges unspecified damages.
For reference, FINRA rules require brokers like John Cody to abide by the suitability standard, which states that they may only recommend investments in products that are considered suitable for their customers’ particular investment profiles. This is distinct from the fiduciary standard followed by investment advisors, which requires that they place their clients’ interests above their own.
According to the Financial Industry Regulatory Authority, John Cody holds 50 years of securities industry experience. Based in Los Angeles, California, he has been a broker and an investment advisor with Merrill Lynch since 1978 and 1994, respectively. His prior registrations include Bateman Eichler Hill Richards (1977-1978) and Merrill Lynch (1972-1977). His credentials include the passage of eight securities industry qualifying exams: the Registered Options Principal Examination, or Series 4; the General Securities Principal Examination, or Series 24; the Registered Representative Examination, or Series 1; the AMEX Put and Call Exam, or PC; the Interest Rate Options Examination, or Series 5; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He holds 37 state licenses. (Information current as of September 5, 2022.)
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.