DAVID HENRY BERNTSEN is currently employed as a Broker and/or Investment Adviser at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED located at 1700 RT 23, WAYNE, NJ, 07470.
DAVID HENRY BERNTSEN has worked at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED since June 27, 2014
Disclosure History
DAVID HENRY BERNTSEN has 3 Disclosure Event(s).
Date: January 03, 2013 Category: Customer Dispute Allegations: TIME FRAME: NOVEMBER 2007 - SEPTEMBER 2008 CLAIMANTS ALLEGE MISREPRESENTATIONS AND UNSUITABILITY IN CONNECTION WITH THEIR PURCHASES OF STRUCTURED NOTES. Damage Amount Requested: $900,000.00 Settlement Amount: $298,000.00 Broker Comment: THIS FILING IS A REQUIRED DUPLICATE OF UBS FILING OCCURRENCE # 1702461. THIS IS NOT A SEPARATE MATTER. THE STATEMENT OF CLAIM SPECIFICALLY EXCLUDES DAVID H. BERNSTEN AND SOLELY CHARGES UBS WITH ALLEGED WRONGDOING. UBS SETTLED THIS MATTER ALONG WITH RELATED CLASS ACTION CASES WITH REGARDS TO SPECIFIC INVESTMENTS.
Date: January 12, 2012 Category: Customer Dispute Allegations: CLAIMANT ALLEGES MISREPRESENTATIONS AND OMISSIONS IN CONNECTION WITH AN INVESTMENT IN A STRUCTURED NOTE. TIME FRAME: OCTOBER 2007 Damage Amount Requested: $164,000.00 Settlement Amount: $24,166.00 Broker Comment: FA VEHEMENTLY DENIES ANY WRONGDOING REGARDING THE SETTLEMENT OF THIS CLAIM. HE STATES HE WAS NOT REQUIRED TO CONTRIBUTE ANY PART OF THE SETTLEMENT AMOUNT AND THAT UBS MADE THE SETTLEMENT DECISION UNILATERALLY. THE FA FURTHER STATES THAT THE CLIENT SPECIFICALLY STATED THAT THE SETTLEMENT MENTIONED THAT THE FA WAS TO BEAR NO RESPONSIBILITY FOR THE FAILURE OF THE NOTE AND THE CLIENT IS SUBMITTING A LETTER ATTESTING TO THE ABOVE.
Date: April 21, 2008 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT THE PURCHASE OF THE AUCTION RATE SECURITY IN HER IRA WAS UNAUTHORZIED AND UNSUITABLE. DAMAGES ESTIMATED TO BE IN EXCESS OF $5,000. Damage Amount Requested: $5,000.00 Settlement Amount: $75,000.00 Broker Comment: THE COMPLAINT AROSE IN CONNECTION WITH THE INDUSTRY WIDE BREAKDOWN OF LIQUIDITY IN THE MARKET FOR AUCTION RATE SECURITIES ("ARS"). THE FIRM AGREED TO REPURCHASE THE ARS SECURITIES AT ISSUE AT PAR VALUE FROM THE CLIENT PURSUANT TO A GLOBAL REPURCHASE AGREEMENT IT ENTERED INTO WITH SEVERAL REGULATORY BODIES. THIS WAS NOT A SETTLEMENT OF A DISPUTE BETWEEN THE CLIENT AND THE REPRESENTATIVE AND WAS NOT BASED ON THE MERITS OF THE CLIENT'S SPECIFIC CONCERNS OR ANY FINDING OF FAULT OR WRONGDOING BY THE NAMED REPRESENTATIVE. THE NAMED REPRESENTATIVE WAS NOT A PARTY TO, AND DID NOT AGREE TO OR PARTICIPATE IN, THE REPURCHASE AGREEMENT BETWEEN THE FIRM AND THE RELEVANT REGULATORY BODIES. THE NAMED REPRESENTATIVE DID NOT MAKE ANY PAYMENTS TO THE CLIENT AND THE NAMED REPRESENTATIVE WAS NOT ASKED TO AND DID NOT CONTRIBUTE TO THE SETTLEMENT AMOUNT. THE LISTED "SETTLEMENT AMOUNT" REPRESENTS ONLY THE GROSS INITIAL PAR VALUE OF THE ARS POSITION AND DOES NOT TAKE INTO ACCOUNT THE ACTUAL VALUE OF THE ARS POSITION AT THE TIME THE FIRM RECEIVED IT BACK FROM THE CLIENT IN CONNECTION WITH THE SETTLEMENT. THIS MATTER IS BEING REPORTED AS A SETTLEMENT PURSUANT TO THE REQUIREMENTS OF FINRA REGULATORY NOTICE 09-12.
More Information
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