Erez Law is currently investigating former Merrill Lynch, Pierce, Fenner & Smith Incorporated broker Richard Sica (CRD# 1756940) regarding failure to follow directions. He has been registered with Charles Schwab & Co., Inc. in Brookfield, Connecticut, since 2021. He was registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated in Ridgefield, Connecticut, from 2009 to 2021.
Richard Sica Customer Complaints
He has been the subject of three customer complaints between 2020 and 2024, according to his CRD report:
June 2024. “The client alleges in January and February 2024, the representative failed to follow instructions regarding his investment strategy.” The case is currently pending. The complaint was regarding government debt and common and preferred stocks, and it took place while he was registered with Charles Schwab & Co., Inc.
March 2020. “The customer alleges failure to follow instructions from March 4, 2020 until March 30, 2020.” The case was settled for $13,389.88. The complaint was regarding mutual fund losses, and it took place while he was registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated.
March 2020. “The customer alleges failure to follow instructions on March 13, 2020.” The case was settled for $10,160. The complaint was regarding self-directed non-managed fee-based accounts, and it took place while he was registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated.
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 Richard Sica’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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