ALAN GLENN KYLE is currently employed as a Broker and/or Investment Adviser at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED located at 355 ALHAMBRA CR, CORAL GABLES, FL, 33134.
ALAN GLENN KYLE has worked at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED since May 01, 1985
Disclosure History
ALAN GLENN KYLE has 1 Disclosure Event(s).
Date: April 30, 1985 Category: Customer Dispute Broker Comment: KYLE WAS THE SUBJECT OF LITIGATION IN THE CASE OF[CUSTOMER] V. DEAN WITTER REYNOLDS, INC. AND [THIRD PARTY]. [CUSTOMER] WAS A CUSTOMER OF KYLE'S ANDALLEGED THAT SHE GAVE HIM INSTRUCTIONS TO SELL SHARES OF THETEMPLETON GROWTH FUND AND THE PIONEER II FUND AND THAT KYLE WASDERELICT IN HIS DUTIES AS A BROKER BECAUSE HE FAILED TO EXECUTETHE ORDER AS REQUESTED. HER SUIT ALLEGED THAT SHE DID NOTDISCOVER THIS NEGLECT FOR APPROX. 3-1/2 MONTHS AND THAT IN THEENSUING PERIOD OF TIME HER HOLDINGS DECLINED IN VALUE IN ANAMOUNT IN EXCESS OF $600. HER SUIT WAS FILED FOR THE PURPOSE OFRECOVERING THIS AMOUNT. DEAN WITTER CONTENDED THAT: 1) SINCE THEMUTUAL FUND SHARES WERE HELD BY EACH FUND'S RESPECTIVE TRANSFERAGENT, IT WAS PHYSICALLY IMPOSSIBLE FOR THE SHARES TO HAVE BEENDEPOSITED IN HER DEAN WITTER ACCOUNT; 2) SINCE IT WAS DEANWITTER'S POLICY NOT TO EXECUTE MUTUAL FUND SELL ORDERS INACCOUNTS WHERE THE CERTIFICATES HAD NOT PREVIOUSLY BEENDEPOSITED, THERE WAS NO WAY IN WHICH KYLE COULD HAVE HONORED[CUSTOMER'S] REQUEST; 3) SINCE [CUSTOMER] ACKNOWLEDGED THAT KYLE HADEXPLAINED THE APPROPRIATE PROCEDURES FOR LIQUIDATION OF THEMUTUAL FUND, IT THEN BECAME HER RESPONSIBILITY TO INITITATE THELIQUIDATION; AND 4) [CUSTOMER'S] 3-1/2 MONTH DELAY IN COMPLYINGWITH THE INSTRUCTIONS GIVEN HER MADE HER ALLEGATIONS APPEAR, ATBEST, QUESTIONABLE.
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