Erez Law is currently investigating Merrill Lynch, Pierce, Fenner & Smith Incorporated broker William King (CRD# 1432593), regarding unsuitable and unauthorized trades related to put options.
He was registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated in New York, New York, from 1985 to 2023, when he was terminated related to “Allegations of unsuitable and unauthorized trading in certain clients’ accounts.”
William King Customer Complaints
He has been the subject of 28 customer complaints between 1999 and 2023, three of which were closed without action, one was withdrawn, and nine were denied, according to his CRD report. The most recent complaints are regarding:
October 2023. “Client alleges misrepresentation of an equity-indexed annuity.” The complaint was regarding equity-indexed annuities.
September 2023. “Clients allege misrepresentations and unauthorized trades. The clients also allege that the registered representative failed to act in their best interest when structured products were purchased in June and July of 2021.” The complaint was regarding options and structured product losses.
August 2023. “Client claims that risk of investments was not disclosed, and investments were unsuitable.” The case was settled for $110,000. The complaint was regarding closed-end funds.
August 2023. “Client claims that risk of investments was not disclosed, and investments were unsuitable.” The complaint was regarding closed-end funds.
July 2023. “Client alleges misrepresentations and unsuitable options strategy.” The case is currently pending. The complaint was regarding options losses.
July 2023. “Client alleges unauthorized trading, unsuitable recommendations and misrepresentations.” The customer is seeking $4,000,000 in damages. The complaint was regarding common and preferred stocks and options losses.
July 2023. “Client alleges unsuitable and unauthorized options trading and use of margin.” The case is currently pending. The complaint was regarding options losses.
June 2023. “Clients allege misrepresentations and unauthorized trades.” The case is currently pending.
June 2023. “Clients allege misrepresentation of options strategy and unsuitable and unauthorized transactions.” The case is currently pending. The complaint was regarding options losses.
May 2023. “Client alleges unsuitable options trading and use of margin.” The customer is seeking $150,000 in damages. The complaint was regarding options losses.
April 2023. “Client alleges Representative made unsuitable investments.” The case is currently pending. The complaint was regarding options losses.
November 2022. “Client alleges unauthorized trading of options from June through September 2022.” The case was settled for $100,000. The complaint was regarding options losses.
October 2022. “Client alleged failure to follow instructions when two positions in his account were not sold in October 2021.” The case was settled for $20,000. The complaint was regarding common and preferred stocks.
August 2022. “The customers allege that the Financial Advisor was not acting in their best interest when he enrolled his brokerage account into a managed strategy and did not implement risk management strategies; therefore, leaving the portfolio open to market volatility.” The customer sought $600,000 in damages, and the case was settled for $212,500. The complaint was regarding managed account losses. The complaint was regarding managed accounts.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Merrill Lynch, Pierce, Fenner & Smith Incorporated may be liable for investment or other losses suffered by William King’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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