ROBERT LLOYD BOYKOFF 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.
ROBERT LLOYD BOYKOFF has worked at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED since May 14, 1997
Disclosure History
ROBERT LLOYD BOYKOFF has 2 Disclosure Event(s).
Date: April 13, 2009 Category: Customer Dispute Allegations: THIS VERBAL COMPLAINT AROSE OUT OF THE SALE OF AN AUCTION RATE SECURITY (ARS) THAT WAS MADE PRIOR TO THE UNPRECEDENTED ILLIQUIDITY IN THE ARS MARKET THAT OCCURRED IN FEBRUARY 2008. Settlement Amount: $4,800,000.00 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: May 06, 2008 Category: Customer Dispute Allegations: CLIENT ALLEGES UNSUITABILITY, MISREPRESENTATIONS AND FAILURE TO DISCLOSE THE RISKS CONCERNING AUCTION MARKET SECURITIES. Broker Comment: MR. BOYKOFF DENIES ANY ALLEGATIONS THAT HE MADE MISREPRESENTATIONS. THE ACUTION RATE SECURITIES AT ISSUE WERE THE SUBJECT OF A SEPARATE, GLOBAL REGULATORY SETTLEMENT UNRELATED TO THIS ARB ITRATION AND THE FIRM PAID ATTORNEY'S FEES ONLY TO SETTLE THIS ARBITRATION (NOT REPORTABLE AS A SETTLEMENT OF $10,000 OR MORE PER WRITTEN GUIDANCE.) THIS ARBITRATION AROSE OUT OF THE UNPRECEDENTED ILLIQUIDITY IN THE AUCTION RATE SECURITIES MARKET. PRIOR TO THE RECENT WIDESPREAD AUCTION FAILURES, AUCTION MARKET SECURITIES WERE SOLD THROUGHOUT THE FINANCIAL SERVICES INDUSTRY AS HIGHLY LIQUID INSTRUMENTS AND WERE APPROPRIATELY REGARDED BY THE INDUSTRY AS HIGHLY LIQUID INVESTMENTS.
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