Dedicated to the advancement of the State of Indiana by re-affirming our state's constitutional principles that: all people are created equal; no religious test shall be imposed on our public officials and offices of trust; and no special privileges or immunities shall be granted to any class of citizens which are not granted on the same terms to all citizens.
Advance Indiana, LLC. Copyright 2005-16. All rights reserved.
Tuesday, July 28, 2015
One Of State's Top Stockbrokers Barred By FINRA
Thomas J. Buck once headed up a large client group at Merrill Lynch's Carmel office managing investment accounts for more than 800 clients in a portfolio valued at more than $1.3 billion. A consent order issued by the federal Financial Industry Regulatory Authority ("FINRA") last week permanently bars him from making trades and investment decisions for clients or even working in a clerical position for a firm offering those services. FINRA claims Buck made unauthorized trades with his clients' funds and held customer assets in commission-based accounts instead of lower-cost fee-based accounts without their consent. Buck had joined RBC Capital Markets in March after Merrill Lynch severed its ties to him.