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Ruy de Barros Maciel Involved in Six-Figure Investor Dispute

Mar 7, 2022 Unsuitable Investments

Ruy de Barros Maciel (CRD #: 5605251), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, is involved in a six-figure dispute. This is according to his BrokerCheck record, accessed on February 14, 2022.

On December 15, 2021, an investor alleged that Ruy de Barros Maciel recommended an unsuitable, high-risk investment. The investor is seeking $100,000; the dispute is pending.

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains information on the following investor characteristics:

  • Age
  • Financial goals
  • Risk tolerance
  • Time horizon (i.e., how long the investor plans to hold the investment)
  • Investing experience

Your broker should understand your financial goals and adapt their investment strategy if your financial goals change. Brokers are also required to perform their due diligence to evaluate an investment and understand its potential to lose money. If you believe your broker recommended unsuitable investments, you should contact a securities lawyer.

Background Information

Ruy de Barros Maciel has passed the following exams:

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

He is a registered broker in seven states and is a registered investment adviser in Florida and Texas.

Kurta Law Can Help

If you have worked with Ruy de Barros Maciel and have concerns about your investments, don't hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated on behalf of investors who have lost money following broker fraud or misconduct. Kurta Law is a nationally recognized law firm and exclusively represents investors on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Our attorneys will work tirelessly to restore your lost funds and get your financial future back on track.