If you suffered losses due to account churning by Merrill Lynch broker Ryan Raskin, please call 1-866-817-0201. Initial consultations are free and all consultations are private.
On March 26, 2020, Merrill Lynch discontinued its relationship with Raskin. Raskin worked in the Beverly Hill, California office of Merrill. In the termination form submitted to securities regulators, Merrill stated the termination was for “conduct involving business practices inconsistent with firm standards [...]”
On August 31, 2020, FINRA, the federal regulator overseeing securities brokers under the oversight of the SEC, sent Raskin a request for documents and information. Raskin never responded.
The result of the regulatory action, which Raskin did not fight, was Raskin’s bar from the financial industry.
Merrill Lynch employed Raskin from May of 2016 to March of 2020. Previously, he worked for Morgan Stanley in its Woodland Hills, California office.
Churning is the excessive trading of an account that has the result of generating commissions at the expense of the investor.
In September 2020, Merrill received a customer complaint demanding payment for churning and excessive trading by Raskin.
Jeffrey Pederson PC works with investors across the country in the recovery of losses due to fraud, such as churning.