Broker Alert: Raymond Keith Malicki Barred by FINRAIndustry regulator FINRA has barred broker Keith Malicki from acting as a broker or associating with any broker-dealer firms. The broker refused to appear for a hearing about his departure from Morgan Stanley.

In July of 2017, Stanley called for Malicki to resign, on the heels of allegations he had accessed and made transactions in a client account at an outside financial institution. He later refused FINRA’s request to testify about this resignation.

The following August, the broker moved to Oppenheimer & Co., where for the time being, he is still employed. The same month, Oppenheimer amended the broker’s record. This disclosed the allegations of misconduct when he was with Stanley.

When FINRA requested he appear to testify about the allegations in the amendment, Maliki refused to comply. In a letter of consent, the broker agreed to the FINRA bar but did not admit or deny their findings.

Since his start in the financial industry, there are three other customer complaints as far back as 1989. He reached a settlement in two cases and the broker denied the allegations of the third complaint.

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Source: Financial Advisor IQ, FINRA BrokerCheck

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Sonn Law Group is investigating claims regarding Joel Eziekel Blum (CRD #4905379, Goshen, New York). Blum recently submitted an AWC in which he was fined $10,000 and suspended from association with any FINRA member in any capacity for 20 days. See FINRA Case #2014040186601. Blum was associated with Merrill Lynch from May 2008 until his termination in February 2014. Blum has been associated with Ameriprise Financial Services, Inc., since February 2014. The Form U-5 filed by Merrill Lynch to terminate Blum's registration states that he was discharged for "conduct including failure to contact clients in advance of entering orders in non-discretionary accounts and mismarking order tickets as unsolicited." FINRA found that Blum executed discretionary transactions in customer accounts without written authorization to do so. In addition, Blum mismarked order tickets in connection with these transactions, inaccurately indicating that the trades were unsolicited, according to FINRA. In entering into the AWC, Blum neither admitted or denied FINRA's findings. Pursuant to FINRA Rules, member firms are responsible for supervising a broker's activities during the time the broker is registered with the firm. Therefore, Ameriprise or Merrill Lynch may be liable for investment or other losses suffered by Blum's customers. If you were a client of Ameriprise, Merrill Lynch, or Blum, and have suffered investment losses or financial irregularities, please contact Sonn Law Group to explore your legal options. Sonn Law Group is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies. To learn more, please call us at 844-689-5754 or complete our "contact form."
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