Scott Nash Allegedly Recommended Excessive Securities Transactions

Scott Nash (CRD #: 1126026), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, is the subject of a pending investor dispute, according to his BrokerCheck record, accessed on June 22, 2023. Read on if you have questions about his alleged conduct as a broker.

Investor Dispute

On April 18, 2023, an investor alleged that Scott Nash recommended excessive and unsuitable transactions in certain fixed-income securities between 2018 and 2022. These transactions allegedly resulted in losses. The client seeks $216,208 in damages in this pending dispute.

A dispute filed on February 22, 2022, alleged that Scott Nash executed excessive trades in the account of a client’s estate between March 2017 and October 2019. This dispute was settled for $64,000.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that adequately fit an investor’s financial goals. Brokers must take into account an investor’s tax status, age, risk tolerance, and other information described in their profile.

Trading activity can also be quantitatively unsuitable, meaning that the broker executed an excessive number of trades. Excessive trading racks up trading fees and commissions that can severely cut into the client’s returns.

Investors who rely on brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.

Background Information

Scott Nash has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 15 – Foreign Currency Options Examination
• Series 7 – General Securities Representative Examination
• Series 9 – General Securities Sales Supervisor – Options Module Examination
• Series 10 – General Securities Sales Supervisor – General Module Examination
• Series 8 – General Securities Sales Supervisor Examination (Options Module & General Module)

Scott Nash is a registered broker in 35 states and a registered investment adviser in New Jersey, Pennsylvania, and Texas.

He has also worked for Janney Montgomery Scott (CRD#:463).

Kurta Law Can Help

If you worked with Scott Nash 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.