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Stephen Medina: $782K Complaint Against Merrill Lynch Advisor
Corpus Christi financial advisor Stephen Medina (CRD# 2614773) allegedly misrepresented stock investments, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Merrill Lynch, and that he has received several other investor complaints.
Mr. Medina’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in September 2023, alleges that as a representative of Merrill Lynch, he misrepresented and recommended unsuitable stock investments between February 2022 and December 2022. The pending complaint alleges damages of $782,500.
An earlier investor complaint, filed in 2016, alleged that he recommended unsuitable products, executed unauthorized trades, and made misrepresentations while a representative of Merrill Lynch. In 2017 the complaint reached a settlement of $270,000.
A third investor complaint, filed in 2003, alleged tat he recommended unsuitable over-the-counter stock investments while a representative of Merrill Lynch. In 2004 the complaint reached a settlement of $400,000.
A fourth investor complaint, filed in 2003, alleged that he misrepresented material facts, omitted information, and recommended unsuitable equity products. In 2005 the complaint reached a settlement of $175,000.
According to the Financial Industry Regulatory Authority, Stephen Medina holds 28 years of securities industry experience. Based in Corpus Christi, Texas, he has been a broker and an investment advisor with Merrill Lynch since 1995. His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Alabama, Arizona, California, Connecticut, Florida, Iowa, Louisiana, Maryland, Nevada, New Mexico, North Carolina, Oregon, Tennessee, Texas, Virginia, Washington, and Wisconsin. (Information current as of October 23, 2023.)
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