{"id":6321,"date":"2018-08-14T20:32:31","date_gmt":"2018-08-14T20:32:31","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6321"},"modified":"2018-08-14T20:32:31","modified_gmt":"2018-08-14T20:32:31","slug":"securities-fraud-allegations-against-former-merrill-lynch-rbc-financial-adviser-could-lead-to-more-unauthorized-trading-and-failure-to-supervise-claims","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-allegations-against-former-merrill-lynch-rbc-financial-adviser-could-lead-to-more-unauthorized-trading-and-failure-to-supervise-claims\/","title":{"rendered":"Securities Fraud Allegations Against Former Merrill Lynch\/RBC Financial Adviser Could Lead to More Unauthorized Trading and Failure to Supervise Claims"},"content":{"rendered":"<p>\t\t\t\tEarlier this year, the US Securities and Exchange Commission barred ex-RBC broker Thomas Buck from the industry. The action came less than four months after the regulator filed a civil case accusing Buck of <a href=\"https:\/\/www.investorlawyers.com\/investor-claims\/\">investor fraud<\/a>. He allegedly made material misrepresentations and omissions to investment advisory clients and certain customers while he was a Merrill Lynch financial adviser in order to get get paid excess fees and commissions.<\/p>\n<p><em>As a result, more than 50 customers and clients under Buck ended up paying over $2.5M unnecessarily.<\/em><\/p>\n<p>Buck also allegedly did not tell clients that they could have saved money if only they\u2019d opted for a fee-based payment structure instead of the commission model. Meantime, he\u2019d told Merrill Lynch compliance staff on several occasions that the clients knew about the less costly options.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-allegations-against-former-merrill-lynch-rbc-financial-adviser-could-lead-to-more-unauthorized-trading-and-failure-to-supervise-claims\/\"  title=\"Continue Reading Securities Fraud Allegations Against Former Merrill Lynch\/RBC Financial Adviser Could Lead to More Unauthorized Trading and Failure to Supervise Claims\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Earlier this year, the US Securities and Exchange Commission barred ex-RBC broker Thomas Buck from the industry. The action came less than four months after the regulator filed a civil case accusing Buck of investor fraud. He allegedly made material misrepresentations and omissions to investment advisory clients and certain customers while he was a Merrill [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3777,3800,3741],"tags":[3093,3094],"class_list":["post-6321","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-inadequate-supervision","category-merrill-lynch","category-securities-fraud","tag-merrill-lynch","tag-thomas-buck"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Additional Fraud Allegations for ex-RBC and Merrill Lynch Broker | SSEK Law Firm Blog<\/title>\n<meta name=\"description\" content=\"Earlier this year, the US Securities and Exchange Commission barred ex-RBC\/Merrill Lynch broker Thomas Buck from the industry. The action came less than four months after the regulator filed a civil case accusing Buck of investor fraud.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-allegations-against-former-merrill-lynch-rbc-financial-adviser-could-lead-to-more-unauthorized-trading-and-failure-to-supervise-claims\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Additional Fraud Allegations for ex-RBC and Merrill Lynch Broker | SSEK Law Firm Blog\" \/>\n<meta name=\"twitter:description\" content=\"Earlier this year, the US Securities and Exchange Commission barred ex-RBC\/Merrill Lynch broker Thomas Buck from the industry. The action came less than four months after the regulator filed a civil case accusing Buck of investor fraud.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Additional Fraud Allegations for ex-RBC and Merrill Lynch Broker | SSEK Law Firm Blog","description":"Earlier this year, the US Securities and Exchange Commission barred ex-RBC\/Merrill Lynch broker Thomas Buck from the industry. 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The action came less than four months after the regulator filed a civil case accusing Buck of investor fraud.","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-allegations-against-former-merrill-lynch-rbc-financial-adviser-could-lead-to-more-unauthorized-trading-and-failure-to-supervise-claims\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-allegations-against-former-merrill-lynch-rbc-financial-adviser-could-lead-to-more-unauthorized-trading-and-failure-to-supervise-claims\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Securities Fraud Allegations Against Former Merrill Lynch\/RBC Financial Adviser Could Lead to More Unauthorized Trading and Failure to Supervise Claims","datePublished":"2018-08-14T20:32:31+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-allegations-against-former-merrill-lynch-rbc-financial-adviser-could-lead-to-more-unauthorized-trading-and-failure-to-supervise-claims\/"},"wordCount":557,"keywords":["Merrill Lynch","Thomas Buck"],"articleSection":["Financial Firms","Inadequate Supervision","Merrill Lynch","Securities Fraud"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-allegations-against-former-merrill-lynch-rbc-financial-adviser-could-lead-to-more-unauthorized-trading-and-failure-to-supervise-claims\/","url":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-allegations-against-former-merrill-lynch-rbc-financial-adviser-could-lead-to-more-unauthorized-trading-and-failure-to-supervise-claims\/","name":"Additional Fraud Allegations for ex-RBC and Merrill Lynch Broker | SSEK Law Firm Blog","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2018-08-14T20:32:31+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"Earlier this year, the US Securities and Exchange Commission barred ex-RBC\/Merrill Lynch broker Thomas Buck from the industry. 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