JOSEPH JAMES GUARNERI is currently employed as a Broker and/or Investment Adviser at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED located at 225 LIBERTY ST - 2 WORLD FINANCIAL CTR, NEW YORK, NY, 10281.
JOSEPH JAMES GUARNERI has worked at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED since May 21, 1987
JOSEPH JAMES GUARNERI has 2 Disclosure Event(s).
Date: March 05, 2008 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT SHE WAS NOT AWARE OF LIQUIDITY RISKS IN CONNECTION WITH HER INVESTMENT IN AUCTION MARKET SECURITIES. Settlement Amount: $225,000.00 Broker Comment: THIS MATTER INVOLVES THE SALE OF AUCTION RATE SECURITIES (ARS). THE TRANSACTION(S) AT ISSUE TOOK PLACE BEFORE MID-FEBRUARY 2008, WHEN THE ARS MARKET SUFFERED WIDESPREAD AUCTION FAILURES AND ILLIQUIDITY. THE FINANCIAL ADVISOR DID NOT CAUSE, CONTRIBUTE OR HAVE ANY CONTROL WHATSOEVER OVER THESE MARKET EVENTS. THE FIRM REACHED AGREEMENT WITH CERTAIN OF ITS REGULATORS, PURSUANT TO WHICH IT REPURCHASED ARS FOR THEIR FULL PAR VALUE FROM CERTAIN CLIENTS, INCLUDING THE INSTANT CLIENT, WHERE THEY COMPLAINED OR NOT. THE FINANCIAL ADVISOR WAS NOT A PARTY TO THAT AGREEMENT, DID NOT MAKE ANY PAYMENT TO THE CLIENT, AND WAS NOT ASKED TO AND DID NOT CONTRIBUTE TO THE REPURCHASE AMOUNT. THE SETTLEMENT AMOUNT IN ITEM 11 ABOVE REFLECTS THE PAR VALUE OF THE REPURCHASED ARS, AS REQUIRED BY FINRA REGULATORY NOTICE 09-12.
Date: November 17, 2003 Category: Customer Dispute Allegations: CUSTOMER ALLEGES FA WAS NEGLIGENT WITH RESPECT TO HANDLING OF HIS ACCOUNT. CUSTOMER ALLEGES UNSPECIFIED DAMAGES. Broker Comment: MERRILL LYNCH ISAND MR. GUARNERI DENIED ALL ALLEGATIONS SET FORTH.
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