DID RICHARD A HOGAN CAUSE YOU INVESTMENT LOSSES?
About Richard Hogan Formerly With Merrill Lynch, Pierce, Fenner & Smith Incorporated?
Richard Hogan (CRD #1754577) has a longstanding career in the financial services industry, although he is not currently registered as a broker. Over the years, Hogan was affiliated with prestigious firms such as Merrill Lynch, Goldman Sachs, and Salomon Brothers, primarily in New York, NY, and San Francisco, California. His tenure at Merrill Lynch from February 2002 to July 2020 marked a significant period of his career. Hogan has passed one principal/supervisory exam (Series 24) and four general industry/product exams (Series 7, Series 3, Series 31, and the Securities Industry Essentials Exam), along with two multi-state securities law exams (Series 66 and Series 63). This diverse array of qualifications highlights his extensive knowledge and ability to operate within various regulatory frameworks and market conditions.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Richard Hogan Customer Complaints and Reviews
Richard A. Hogan has several negative disclosures in his report:
- Regulatory Event (Final): Initiated by FINRA on July 26, 2022, Hogan faced sanctions due to his participation in private securities transactions without prior notification to his member firm, involving Asia-based funds and investments totaling $630,000. He consented to the sanctions without admitting or denying the findings, which included a suspension and a monetary fine.
- Customer Dispute (Settled): Filed on June 5, 2020, a client alleged “Selling Away” related to investments in hedge funds that were not offered by Hogan’s employing firm, Merrill Lynch. The dispute was settled on September 15, 2020, for $24,069, with no contribution from Hogan.
- Termination (Discharged): Hogan was discharged from Merrill Lynch on June 4, 2020, due to his introduction of clients to third-party investments not offered by the firm, co-investing without firm approval, and failing to safeguard his log-on credentials and complete mandatory training.
Allegations Against Richard Hogan
The allegations and accusations against Richard A. Hogan include:
- Private Securities Transactions: Hogan solicited investments from clients into private securities without notifying his firm, which led to regulatory action and sanctions.
- Selling Away: Hogan was accused of directing clients to invest in products not sponsored by his firm, specifically hedge funds, leading to a financial settlement with the client.
- Improper Conduct and Lack of Compliance: His termination stemmed from multiple issues including improper client introductions to non-firm investments, unauthorized co-investments, and negligence in following firm security and training protocols.
Richard Hogan Red Flags & Your Rights As An Investor
Of course, Richard Hogan did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Richard Hogan at Merrill Lynch, Pierce, Fenner & Smith Incorporated on alert to review carefully the activity and performance of their accounts and question whether Richard Hogan has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Merrill Lynch, Pierce, Fenner & Smith Incorporated also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Merrill Lynch, Pierce, Fenner & Smith Incorporated Due To Richard Hogan
If you have questions about Merrill Lynch, Pierce, Fenner & Smith Incorporated and/or Richard Hogan and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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