FINRA Bars Ernest Frerking after Allegations of Broker Misconduct
According to public records posted to FINRA’s website, the Financial Industry Regulatory Authority (FINRA) has reportedly barred Ernest Frerking (CRD #2588177) from associating with any FINRA member at any time.
Merrill Lynch reportedly filed a Uniform Termination Notice for Securities Industry Registration (Form U5) stating that Frerking had been discharged for failing to adhere to firm standards regarding the servicing of a client and entering into a financial arrangement with a client without the firm’s knowledge or consent, according to the document.
According to his FINRA Broker report, Frerking was reportedly registered with the following FINRA registered firms, during his career in the securities industry:
10/14/1999 – 04/27/2021 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (CRD#:7691) AUSTIN, TX
Frerking reportedly has one customer complaint filed against him in 2020 for allegations of “misappropriation of funds from July 1999 until July 2020,” from an attorney of his deceased customer’s estate. The broker denied the allegations, according to FINRA.
Potential Lawsuits to Recover Financial Losses
When brokers and registered investment advisors violate securities laws, such as making unsuitable investment recommendations or unauthorized trades, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington.
We represent investors in all 50 states including Texas. Our attorneys have recovered millions of dollars from many brokerage firms in the past.
If you are concerned about your investments with Ernest Frerking, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.
For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.
»Tags: broker Ernest Frerking, Ernest Frerking Austin TX, Ernest Frerking claims, Ernest Frerking complaints, Ernest Frerking financial advisor, Ernest Frerking FINRA, Ernest Frerking investigation, Ernest Frerking lawsuit, FINRA arbitration, Merrill Lynch Ernest Frerking, securities fraud attorney Last modified: December 8, 2022