DAVID SCOTT SIMMONS

DAVID SCOTT SIMMONS is currently employed as a Broker and/or Investment Adviser at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED located at 333 N POINT CTR E, ALPHARETTA, GA, 30022.

DAVID SCOTT SIMMONS has worked at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED since January 28, 1987

Disclosure History

DAVID SCOTT SIMMONS has 2 Disclosure Event(s).

Date: May 06, 2002
Category: Customer Dispute
Allegations: CLIENT'S SON ALLEGES THAT THE CLIENT'S ASSETS WERE "MISALLOCATED" AMONG EQUITIES, FIXED INCOME AND CASH. DAMAGES NOT SPECIFIED.
Broker Comment: CUSTOMER COMPLAINT WAS DENIED.

Date: January 06, 1998
Category: Customer Dispute
Allegations: CUSTOMER ALLEGED THAT MR SIMMONS PURCHASED AMUTUAL FUND WITHOUT CONSULTING HER IN SEPTEMBER 1995. CUSTOMER ALSO ALLEGED THAT 233.725 SHARES OF THE MERRILL LYNCHGROWTH FUND CLASS B SHARES WERE CONVERTED TO CLASS D SHARESWITHOUT HER AUTHORIZATION IN OCTOBER 1997. CUSTOMER CLAIMEDTHAT SHE WAS NOT INFORMED THAT THERE WAS A CONTINGENT DEFERREDSALES CHARGE ON THE MERRILL LYNCH MUNICIPAL BOND FUND INSEPTEMBER 1995.
Broker Comment: MERRILL LYNCH FOUND CUSTOMER'S CLAIMS TO BEWITHOUT MERIT.MR SIMMONS STATES THAT HE RECEIVED CUSTOMER'SAUTHORIIZATION PRIOR TO ENTERING ALL TRADES IN HER ACCOUNT. CUSTOMER EXCHANGED $10,000 OF THE ML MUNICIPAL BOND FUND, WHICHWAS PURCHASED IN 1989, INTO THE ML GROWTH FUND AT NO COST. THEMERRILL LYNCH SELECT PRICING SYSTEM SYSTEM AUTOMATICALLYCONVERTED THE CLASS B SHARES TO CLASS D SHARES AFTER EIGHTYEARS. THE CLASS D SHARES GAVE CUSTOMER THE BENEFIT OF ALOWER EXPENSE RATIO. MR SIMMONS STATES THAT CUSTOMER WASADVISED OF THE DEFERRED SALES CHARGE ON ALL MUTUAL FUND TRADES. CUSTOMER WAS MAILED A PROPECTUS, WHICH ALSO DISCLOSED THEDEFERRED SALES CHARGE FOR EACH MUTUAL FUND.

More Information

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BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.

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