Sezgin Unay: Did Merrill Advisor Make Unauthorized Trades?

Melville, New York financial advisor Sezgin Unay (CRD# 4595675) allegedly violated industry rules, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Merrill Lynch.

Mr. Unay’s BrokerCheck report discloses one investor complaint. Filed in September 2026, it alleges that as a representative of Merrill Lynch, he made unsuitable investment recommendations, conducted unauthorized trades, and failed to follow instructions. The pending complaint alleges damages of at least $50,000.

Investors should be aware that FINRA rules prohibit representatives like Mr. Unay from conducting securities transactions without authorization. FINRA Rule 3260, for example, describes certain conditions under which brokers can make discretionary trades, and forbids the use of discretion without the customer’s prior written authorization and the firm’s written acceptance of the account as discretionary. FINRA Rule 2010, meanwhile, requires brokers to “observe high standards of commercial honor and just and equitable principles of trade,” which generally means that they may not perform unauthorized transactions. Brokers who violate these rules may be held liable for damages.

For reference, FINRA rules require broker-dealers and their representatives to follow the suitability standard. As explained in FINRA Rule 2111, this rule states that they may only recommend their customers invest in products that are appropriate for the customers’ individual investment profiles. This includes factors such as the client’s investment objectives, investment experience, liquidity needs, age, net worth, risk tolerance, and income. The suitability standard is similar to but distinct from the fiduciary standard followed by investment advisers, which requires them to place the investor’s interests above their own.

According to the Financial Industry Regulatory Authority, Sezgin Unay holds 19 years of securities industry experience. Based in Melville, New York, he has been registered as a broker and an investment advisor with Merrill Lynch since 2014. His past registrations include Chase Investment Services, Wells Fargo Advisors, Banc of America Investment Services, and Northwestern Mutual Investment Services. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Uniform Combined State Law Examination, or Series 66; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 56 state licenses. (Information current as of November 1, 2026.)

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