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Leo Hansen is Subject of Excessive Trading Allegations

Leo Hansen (CRD #: 3207894), a broker registered with Merrill Lynch, is facing an investor dispute. This disclosure appears on his BrokerCheck record, accessed on March 15, 2024. Keep reading if you have questions regarding his alleged misconduct. 

Investor Dispute

On January 4, 2024, an investor alleged that Leo Hansen did not act in her best interest and executed an excessive number of trades. 

Excessive Trading

FINRA Rule 2111, a.k.a. The Suitability Rule, requires brokers to tailor their investment recommendations to suit investors’ needs. Trades must be quantitatively suitable, meaning the number of trades must suit an investor’s needs. Each trade comes with a transaction fee, so too many transactions will result in excessive fees for the investor. Excessive trading is also known as “churning.” 

Background Information 

Leo Hansen has passed the following exams:

  • Series 66 Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination 
  • Series 31 Futures Managed Funds Examination 
  • Series 7 General Securities Representative Examination 

He is a registered broker in 15 states and is a registered investment adviser in California and Texas. 

During his 24 years of experience, Leo Hansen has registered with four firms: 

  • Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691) 
  • Banc of America Investment Services (CRD #: 16361) 
  • CitiGroup Global Markets (CRD #: 7059) 
  • Morgan Stanley DW (CRD #: 7556) 

Kurta Law Can Help 

If you have worked with Leo Hansen and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or 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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