Pending investor complaints against Newport Beach financial advisor Martin Klein (CRD# 1778613) allege that his investment advice resulted in damages...Read More
Keith Simmons: $8MM Complaint Against Merrill Lynch Rep
Miami, Florida-based broker and investment adviser Keith Simmons (CRD# 730619) has received a pending investor complaint alleging losses of $8 million. According to records provided by the Financial Industry Regulatory Authority (FINRA), Simmons is currently a registered representative of Merrill Lynch.
Keith Simmons FINRA-maintained BrokerCheck report lists a total of four customer complaints against him, two pending and two settled.
A pending complaint filed in October 2020 alleges that as a representative of Merrill Lynch, Keith Simmons recommended unsuitable stock products. The pending complaint alleges damages of $1.1 million.
A pending complaint filed in May 2020 alleges that as a representative of Merrill Lynch, Keith Simmons made unsuitable investment recommendations that resulted in losses. The pending complaint alleges damages of $8 million.
A complaint filed in 2009 alleged that as a Merrill Lynch representative, Keith Simmons made misrepresentations concerning the liquidity and risk of an investment in auction rate securities. The complaint reached a settlement in 2012 of $300,000.
A complaint filed in 1997 alleged that as a Merrill Lynch representative, he oversold shares of Alpine Lace brands Inc. without the investor’s authorization. The complaint reached a settlement of $9,000.
According to Financial Industry Regulatory Authority records, Keith Simmons holds 40 years of securities industry experience. He has been a registered broker and investment adviser with Merrill Lynch since 1981. He has passed four state securities examinations: the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; the Uniform Investment Adviser Law Examination, or Series 65; and the General Securities Representative Examination, or Series 7. He holds 32 securities registrations. (Information current as of July 13, 2021.)