Former Next Financial Group broker Charles Doraine (CRD# 70411) was recently sanctioned by the Financial Industry Regulatory Authority in connection...Read More
Richard Reiss: Merrill Lynch Advisor Has 2 Pending Complaints
Richard Reiss, a Merrill Lynch financial advisor in Guaynabo, Puerto Rico, and Miami, Florida, has two pending complaints disclosed on his regulatory record. Both complaints are in the form of arbitrations pending with the Financial Industry Regulatory Authority.
On June 9, 2016, a customer alleged “unsuitable investment recommendations, excessive trading and misrepresentation and omission of material facts from May 2010 to May 2016” caused the customer $1,774,301.01 in damages.
On July 18, 2016, another customer alleged “unsuitable investment recommendations from July 2010 to July 2016” caused the customer $324,404.66 in damages. According to public records, both complaints relate to municipal debt.
Reiss has been in the securities industry for seven years. He began his career with Merrill Lynch in 2010.
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