THOMAS FRANCIS DUFFY is currently employed as a Broker and/or Investment Adviser at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED located at 3 BETHESDA METRO CTR, BETHESDA, MD, 20814.
THOMAS FRANCIS DUFFY has worked at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED since May 14, 2008
THOMAS FRANCIS DUFFY has 5 Disclosure Event(s).
Date: May 29, 2008 Category: Customer Dispute Allegations: CUSTOMER ALLEGES, INTER ALIA, THAT FINANCIAL ADVISOR FAILED TO DISCLOSE INFORMATION ABOUT AUCTION RATE SECURITIES. NO SPECIFIC DAMAGES ALLEGED. Settlement Amount: $211,003.00 Broker Comment: THIS MATTER INVOLVES THE SALE OF AUCTION RATE SECURITIES (ARS). THE TRANSACTION(S) AT ISSUE TOOK PLACE BEFORE THE EVENTS OF 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 EVENTS. THE CLIENT SOLD IN THE SECONDARY MARKET AND WE COMPENSATED FOR THE PRICE SHORTFALL. THE FINANCIAL ADVISOR DID NOT MAKE ANY PAYMENTS TO THE CLIENT, WAS NOT ASKED TO AND DID NOT CONTRIBUTE TO THE REPURCHASE AMOUNT. THE AMOUNT OF THE SETTLEMENT REPORTED ABOVE IS BASED ON FINRA REGULATORY NOTICE 09-12, WHICH PROVIDES THAT THE AMOUNT OF THE SETTLEMENT OF ARS MATTERS SUCH AS THIS ONE MUST BE REPORTED AS THE FULL PAR VALUE OF THE REPURCHASED ARS.
Date: October 01, 2001 Category: Customer Dispute Allegations: CUSTOMER ALLEGED THAT HIS INSTRUCTIONS WERE NOT FOLLOWED. Damage Amount Requested: $500,000.00 Broker Comment: MORGAN STANLEY DW INC. DETERMINED THAT THE COMPLAINT WAS WITHOUT MERIT.
Date: February 11, 1987 Category: Regulatory
Date: July 03, 1985 Category: Customer Dispute Allegations: CLIENT ALLEGED AN UNSUITABLE INVESTMENTSTRATEGY WAS RECOMMENDED WHEREBY OUT-OF-THE MONEY PUT AND CALLOPTIONS ON THE S&P OEX INDEX WERE WRITTEN AGAINST CERTAIN LONGBONDS IN ACCOUNT. CLIENTS ALLEGE DID NOT UNDERSTAND THE NATUREOF RISKS INHERENT IN STRATEGY. COMPLAINT RESOLVED VIA LEGALSETTLEMENT WHERE CLIENTS ACCOUNT WAS CREDITED $14,595.00 Damage Amount Requested: $21,000.00 Settlement Amount: $14,595.00 Broker Comment: NOT PROVIDEDREGARDING THE $14,595. SETTLEMENT OF [CUSTOMER] AND [OTHER FAMILY MEMBER]. THE [CUSTOMER] ALLEGED ANUNSUITABLE INVESTMENT STRATEGY WHEREBY OUT OF MONEY PUT ANDCALL OPTIONS WERE WRITTEN AGAINST CERTAIN LONG BONDS IN THEIRACCOUNT. CUSTOMERS ALLEGE THEY DID NOT UNDERSTAND THE RISKSINHERENT IN SAID INVESTMENT STRATEGY. COMPLAINT WAS RESOLVEDVIA LEGAL SETTLEMENT WHEREIN THE CLIENTS' ACCOUNT WAS CREDITEDWITH THE SUM OF $14,595. ACCOUNT WAS BEING MANAGED BY MR.[THIRD PARTY] ON A DISCRETIONARY BASIS, WHO WAS THE OFFICEOPTIONS COORDINATOR, CONTRIBUTED $7,000 TOWARDS THE SETTLEMENT,THE BALANCE BY THE STRATEGY MANAGER, [THIRD PARTY].10-16-98-CLIENT'S DEBIT BALANCE OF $21,595 WAS SATISIFIED BYPAYMENT OF $7,000 AND ADDITIONALPAYMENT OF $7,000 BEING CHARGEDTO BROKER'S ACCOUNT BY THE FIRM AND THE REMAINDER CHARGED TOTHE OFFICE OPTIONS COORDINATOR.
Date: August 12, 1983 Category: Customer Dispute Allegations: MISREPRESENTATION REGARDING ZERO COUPONS Damage Amount Requested: $50,000.00 Settlement Amount: $12,000.00 Broker Comment: SHEARSON SETTLED WITH CLIENT PRIOR TO HEARINGFOR $1200.00. MR. DUFFY MADE NO CONTRIBUTION TO THE CLAIM.NOT PROVIDED
All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.
A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.
To view the full report for THOMAS FRANCIS DUFFY, click here.
If you discover any errors or outdated information on this Website, please contact us and we will promptly correct such errors or outdated information.
If BrokerCheck® is the source of such errors or outdated information, please contact FINRA at (301) 590-6500.
Brokersearch.info will not fully remove items from this Website without an applicable court order designating them for removal. Investors rely on the information available on this Website to decide whether to choose or retain a broker or investment adviser.
Upon written request, we may remove certain page(s) from appearing in search engine results using the robots.txt protocol.
When a person searches for your name using Google, Bing, Yahoo! and other search engines the page(s) from Brokersearch.info would not appear in the search results.
Please contact us to learn more about Search Engine Removal.
How to choose a broker or investment adviser. Learn More