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Andre Lee Allegedly Violated Regulation Best Interest

Andre Lee (CRD #: 6979193), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on May 30, 2024. Details concerning this dispute are provided below. 

Investor Allegations 

On March 7, 2024, an investor alleged that Andre Lee was not acting in his best interest. The dispute was denied, but investors should know that firms can deny disputes without any external review. Investors can still recover following a denial. 

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

High Standards of Commercial Honor 

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of Regulation Best Interest also violate this rule. 

Background Information 

Andre Lee has passed the following exams: 

  • Series 66 Uniform Combined State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination

He is a registered broker in 16 states and is a registered investment adviser in Connecticut, New York, and Texas. 

Kurta Law Can Help 

If you have worked with Andre Lee and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.

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