LOS ANGELES, June 30, 2015 (GLOBE NEWSWIRE) -- The securities arbitration law firm Dimond Kaplan & Rothstein, P.A. (http://www.dkrpa.com) is investigating former Ontario, California-based Merrill Lynch stockbroker Roderick Yzaguirre and Merrill Lynch’s possible failure to supervise Yzaguirre. A number of Yzaguirre’s customers at Merrill Lynch complained that Yzaguirre misappropriated funds from their accounts, made unauthorized trades, or misrepresented account transactions. To date, Merrill Lynch has paid investors nearly $3.4 million to settle various complaints. The allegations against Yzaguirre are among the worst types of stockbroker fraud.
“FINRA rules and California law require brokerage firms to adequately supervise brokers to ensure that brokers do not abuse clients’ trust. Firms can be held liable for investor losses if they fail to supervise their brokers sufficiently,” said FINRA arbitration lawyer Jeffrey Kaplan.
Dimond Kaplan & Rothstein, P.A. represents investors in Southern California and nationwide who have lost money as a result of stockbroker fraud. If Rod Yzaguirre was your broker at Merrill Lynch, we encourage you to contact a FINRA arbitration lawyer at Dimond Kaplan & Rothstein for a free consultation at (888) 578-6255 or info@dkrpa.com. You also may visit Dimond Kaplan & Rothstein, P.A. on the web at www.dkrpa.com.