Investigation of Billy Wayne Allen and Merrill Lynch, Inc.

Have you lost money with financial advisor Billy Allen of Rogers, Arkansas?  We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Billy Wayne Allen. FINRA barred Allen from the securities industry after he failed to respond to a FINRA investigation.  FINRA was investigating Allen regarding allegations that he borrowed funds from one of his customers at Merrill Lynch without firm approval.

Billy Allen was a financial advisor and registered representative of Merrill Lynch from October 2012 to January 2015.  He worked at a branch office in Rogers, Arkansas.  Allen also was registered with Legend Equities Corp. from April 2015 to June 2015.  Allen was also barred by the Arkansas Securities Department in October 2015.

Brokerage firms like Merrill Lynch have a responsibility to adequately supervise all representatives who are registered through their firm.  Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Arkansas. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James, ProEquities, Securities America, National Securities Corp., and many others.

Click to view:  Allen FINRA AWC

Click to view:  Allen BrokerCheck 3.2.16

HAVE YOU LOST MONEY WITH BILLY WAYNE ALLEN OR MERRILL LYNCH?   

              CONTACT ISRAELS & NEUMAN, PLC FOR A FREE CASE EVALUATION

                Denver Office: (720) 599-3505

                Seattle Office: (206) 795-5798