TODD LOWELL KISSEL is currently employed as a Broker and/or Investment Adviser at RAYMOND JAMES & ASSOCIATES, INC. located at 350 Park Avenue, 11th Floor and 12th Floor, New York, NY, 10022.
TODD LOWELL KISSEL has worked at RAYMOND JAMES & ASSOCIATES, INC. since July 21, 2017
Disclosure History
TODD LOWELL KISSEL has 3 Disclosure Event(s).
Date: November 17, 1994 Category: Customer Dispute Allegations: CUSTOMER IS CONCERNED WITH THE HIGH TRADINGACTIVITY IN 1993 WHICH HE HAS CATEGORIZED AS CHURNING. INADDITION CUSTOMER IS CONCERNED THAT MOST OF THE STOCKSPURCHASED DID NOT REPRESENT COMPANIES THAT WERE LEADERS INTHEIR INDUSTRIES AND WERE PURCHASED AT THEIR HIGHS AND DISPOSEDOF AT A MUCH LOWER PRICE. DAMAGES UNSPECIFIED. [CUSTOMER'S] LATER CLAIMED THAT ALL TRADING WAS DONE WITHOUT HIS PRIORAUTHORIZATION. Settlement Amount: $11,500.00 Broker Comment: AS A GESTURE OF GOOD FAITH A DECISION WAS MADETO SETTLE THIS MATTER FOR $11,500.00. AN ADDITIONAL DECISIONWAS MADE TO PROVIDE THIS CUSTOMER WITH A DISCOUNT ON THECOMISSIONS, UPON LIQUIDATION OF THE POSITIONS IN THE ACCOUNT ASOF MARCH 20, 1995.SOME OF THE TRANSACTIONS [CUSTOMER] QUESTIONEDTOOK PLACE OVER A YEAR AGO, HOWEVER HE DID NOT RAISE ANY PRIOROBJECTION TO ANY OF THE TRADING IN THE ACCOUNT. [CUSTOMER] HASADMITTED HE WAS AWARE OF THE TRADING BUT ONLY AFTER EACH TRADEWAS DONE. WE BELIEVED THERE WAS AN IMPLIED RATIFICATION OFTHESE TRADES. HOWEVER, MERRILL LYNCH AND MR. KISSEL CONTENDTHAT A PORTION OF THE TRADING IN QUESTION WAS ACTUALLY DONE BYAN FC ASSOCIATE. THIS SETTLEMENT WAS MADE TO AVOID THE COSTSAND UNCERTAINTIES OF LITIGATION.
Date: September 27, 1994 Category: Customer Dispute Allegations: CLAIMANT ALLEGES THAT F/C MADE UNSUITABLERECOMMENDATIONS AND MISREPRESENTATIONS. SHE SEEKS $20,766.13IN DAMAGES. Damage Amount Requested: $20,766.13 Settlement Amount: $11,500.00 Broker Comment: SETTLED. MERRILL LYNCH SETTLED THE MATTER FOR$11,500 IN ORDER TO AVOID THE EXPENSES AND UNCERTAINTY OFLITIGATION.THE ALLEGATIONS ARE DENIED
Date: July 26, 1994 Category: Customer Dispute Allegations: ALLEGES THAT AN UNAUTHORIZED TRADE WAS MADEIN CUSTOMER ACCOUNT. ASSERTED LOSSES IN EXCESS OF $70,000. Settlement Amount: $28,500.00 Broker Comment: AMOUNT WAS SETTLED FOR $28,500 WITH NOCONCESSION OF LIABILITY BY EITHER MERRILL LYNCH OR FINANCIALCONSULTANT KISSEL IN ORDER TO AVOID THE UNCERTAINTIES ANDEXPENSE OF FURTHER LITIGATION.CUSTOMER [CUSTOMER], AN EXPERIENCED TRADERAND SOPHISTICATED INVESTOR COMPLAINED OF ONE TRADE ALLEGING ITTO BE UNAUTHORIZED. STOCK OPTIONS OF SAME STOCK HAD BEENPURCHASED PREVIOUSLY AND NUMEROUS OPTION STRATEGIES ACCOMPANIEDAND FOLLOWED PURCHASE OF THE STOCK. CUSTOMER DID NOT COMPLAINOF PURPORTEDLY UNAUTHORIZED TRADE UNTIL THREE MONTHS LATERDURING PRECIPITOUS MARKET DECLINE FOR THE STOCK. BROKER ISCONTRIBUTING $2,000 TOWARD SETTLEMENT.
More Information
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