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Merrill Lynch’s William Keeney: Complaints Settled for 6-Figures
Newton, Massachusetts stockbroker William Keeney (CRD# 3082733) has received investor complaints that reached six-figure settlements. Financial Industry Regulatory Authority records show that he has been registered with Merrill Lynch as a broker and an investment adviser since 2009.
Mr. Keeney’s BrokerCheck report discloses two settled investor complaints against him. The most recent complaint was filed in 2020. It alleged that as a representative of Merrill Lynch he recommended unsuitable investments from December 2015 until February 2020. In 2020 the complaint resolved with a settlement of $667,289.37.
The second settled investor complaint against Mr. Keeney was filed in 2019. It alleged that as a representative of Merrill Lynch, he recommended unsuitable options investments. In 2021 the complaint reached a settlement of $482,710.63.
For reference, FINRA rules mandate that its associated brokers, like William Sullivan, must follow the suitability standard. This requires that they only recommend their customers invest in products or strategies that are considered suitable to their particular investment profiles. A customer’s investment profile includes such factors as their investment goals, their investment experience, their income, their age, their net worth, their liquidity needs, and their risk tolerance. FINRA’s suitability FAQ explains that brokers must “obtain and consider relevant customer-specific information when making a recommendation,” using reasonable due diligence to identify and analyze the various factors involved in an investment profile.
According to the Financial Industry Regulatory Authority, William Keeney holds 23 years of securities industry experience. He has been registered with Merrill Lynch in Newton, Massachusetts as a broker and an investment adviser since 2009. His past registrations include Banc of America Investment Services (Sudbury, Massachusetts; 2004-2009), Quick & Reilly (Newton, Massachusetts; 2003-2004), and Morgan Stanley DW (Purchase, New York; 1998-2002). His credentials include the passage of five securities industry examinations: the Uniform Securities Agent State Law Examination, or Series 63; the Uniform Investment Adviser Law Examination, or Series 65; the Securities Industry Essentials Examination, or SIE; the Futures Managed Funds Examination, or Series 31; and the General Securities Representative Examination, or Series 7. He holds 24 state licenses. (Information current as of March 28, 2022.)
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