RICHARD ARTHUR MELZER is currently employed as a Broker and/or Investment Adviser at MORGAN STANLEY located at WEST SHORE OFFICE CENTER, 214 SENATE AVENUE, 7TH FLOOR, CAMP HILL, PA, 17011.
RICHARD ARTHUR MELZER has worked at MORGAN STANLEY since June 01, 2009
RICHARD ARTHUR MELZER has 4 Disclosure Event(s).
Date: December 19, 2007 Category: Customer Dispute Allegations: ATTORNEY ALLEGED UNSUITABILITY, TRADING FOR COMMISSIONS, FAILURE TO FOLLOW INSTRUCTIONS, AND UNAUTHORIZED TRADING--4/30/07-12/14/07. Damage Amount Requested: $105,424.00 Broker Comment: CLAIM DENIED.
Date: May 01, 2003 Category: Customer Dispute Allegations: CLIENT ALLEGED UNSUITABLE INVESTMENTS - 2000.DAMAGES UNSPECIFIED. Settlement Amount: $30,552.00 Broker Comment: THE CLAIM WAS SETTLED FOR $30,552.
Date: November 01, 1989 Category: Customer Dispute Allegations: ALLEGATIONS OF CHURNING FAILURE TO SUPERVISE,UNAUTHORIZED AND SUITABLE TRADING AND RICO. CLIENTS REQUESTEDACTUAL, COMPENSATORY,PUNITIVE & TREBLE DAMAGES, REFUND OFUNSTATED COMMISSIONS, ATTORNEY'S FEES AND ARBITRATION COSTS. Damages Granted: $1,104,000.00 Broker Comment: NASD AWARD TO CLAIMANTS' AS FOLLOWS: SHEARSON $300,000 MELZER 604,000 CONWAY 200,000 ALL CLAIMS FOR PUNITIVE & TREBLE DAMAGESDENIED, ATTORNEYS FEES DENIED. [CUSTOMER'S] CLAIMS WEREDENIED IN THEIR ENTIRETY.PLAINTIFF WAS MULTIMILLIONAIRE, ANNUAL INC.$1,000,000 A YR. PLAINTIFF HAS 10 YRS INV. EXPERIENCE. WASSOPHISTICATED BUSINESS PERSON. PLAINTIFF SOLICITED 3 OTHER (METOO) CLIENTS. THEY CLAIMED UNSUITABLE INVESTMENTS, CHURNING, &DAMAGES. 4 OUT OF 5 CLIENTS MADE MONEY. PROFITABILITY RANGEDFROM 5% TO 15% PER YR. NET. CLIENT #4 LOST A TOTAL OF $14,000(DURING THE 87 CRASH, THIS CLIENT WAS UP OVER 50% IN LESS THAN2 YRS). CLIENTS RECEIVED NUMEROUS ACTIVITY LETTERS. 4 OUT OF 5HAD FACE TO FACE MEETINGS WITH MANAGER. NO ONE COMPLAINED TOTHE BROKER, MANAGER OR THE FIRM AT ANY TIME PRIOR TO LAW SUITBEING FILED. WE VIGOROUSLY CONTESTED ALL CLAIMS & ALLEGATIONS.NONETHELESS, AWARDS WERE MADE TO 3 OF THE 5 CLAIMANTS.
Date: October 01, 1979 Category: Employment Separation After Allegations Firm Name: MERRILL LYNCH Termination Type: Permitted to Resign Allegations: N/AMISMANAGEMENT. DAMAGES IN EXCESS OF $10,000. Broker Comment: CASE DEEMED NONMERITORIOUSPLEASE ARCHIVE. THIS MATTER IS NOT REPORTABLEUNDER NASD REGULATIONS. CLAIM DENIED. COMPLAINT OVER 24MONTHS.
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