Former Fresno financial advisor Steven Hirata (CRD# 1188927) was recently sanctioned by the Financial Industry Regulatory Authority for allegedly refusing...Read More
Richard Sanders: Merrill Lynch Advisor Has $490K Investor Complaint
Brea, California financial advisor Richard Sanders (CRD# 410229) has received multiple investor complaints alleging he engaged in unauthorized trading. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Merrill Lynch, having previously been registered with UBS Financial Services.
Mr. Sanders’ BrokerCheck report discloses several recent investor complaints. The most recent, filed in May 2022, alleges that as a representative of Merrill Lynch, he made unauthorized trades that resulted in adverse tax consequences. The pending complaint alleges unspecified damages.
An earlier investor complaint, filed in February 2022, similarly alleges that he engaged in unauthorized trading in February 2020. This pending complaint alleges damages of $490,000. In a statement on the disclosure, Mr. Sanders wrote that “the claims asserted are without merit and intend to vigorously defend against them.”
According to the Financial Industry Regulatory Authority, Richard Sanders holds 48 years of securities industry experience. Based in Brea, California, he has been a broker and an investment with Merrill Lynch since May 2022. His past registrations include Merrill Lynch (Brea, California; 2016 until January 2022), UBS Financial Services (Irvine, California; 2008-2016), and Merrill Lynch (Santa Ana, California; 1974-2008). His credentials include the passage of five securities industry qualifying exams: the Registered Representative Examination, or Series 1; the AMEX Put and Call Exam, or PC; the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed as a broker and an investment advisor in California. (Information current as of July 20, 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.