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Richard Ryall Allegedly Misrepresented Unsuitable Investment Strategy

Richard Ryall (CRD #: 408065), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, allegedly misrepresented an investment strategy’s risks, according to his BrokerCheck record, accessed on May 25, 2023. Keep reading if you have questions about his alleged conduct as a broker.

Investor Dispute

On March 28, 2023, multiple investors filed a dispute alleging that Richard Ryall misrepresented the risks associated with an unsuitable investment strategy he recommended. This dispute is currently pending.

FINRA Rule 2020

FINRA Rule 2020 forbids the use of manipulation, deception, and other fraudulent means of influencing the purchase and sale of securities. Misrepresenting an investment’s requirements, limitations, or other features violates this rule.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must consider the information in the investor’s profile, such as their age, tax status, and risk tolerance.

This also applies to recommendations of investment strategies. For instance, overconcentration in a certain stock or sector is typically unsuitable due to the degree of risk involved.

Investors who rely on brokers for investment recommendations can potentially recover their losses by pursuing FINRA arbitration.

Background Information

Richard Ryall has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • Series 7TO – General Securities Representative Examination
  • SIE – Securities Industry Essentials Examination
  • Series 31 – Futures Managed Funds Examination
  • Series 5 – Interest Rate Options Examination
  • PC – AMEX Put and Call Exam
  • Series 000 – General Securities Principal Examination
  • Series 1 – Registered Representative Examination
  • Series 4 – Registered Options Principal Examination
  • Series 10 – General Securities Sales Supervisor – General Module Examination
  • Series 9 – General Securities Sales Supervisor – Options Module Examination
  • Series 8 – General Securities Sales Supervisor Examination (Options Module & General Module)

Richard Ryall is a registered broker in 31 states and the District of Columbia. He is also a registered investment adviser in Connecticut and Texas.

He has also worked for Advest (CRD#:10) and Merrill Lynch, Pierce, Fenner & Smith (CRD#:572).

Kurta Law Can Help

If you worked with Richard Ryall and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and 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.