Merrill Lynch Broker Permanently Barred After Years of Allegations and Refusal to Respond to FINRA Requests for Information

Michael Highfill has been permanently barred from the securities industry

A former Merrill Lynch broker, Michael Highfill was permanently barred from the securities industry in July of 2015 after 16 years in the industry. His most recent position was with Merrill Lynch in Ridgeland, Mississippi. Before Merrill Lynch, he was a registered broker with Morgan Stanley in Ridgeland, Trustmark Financial Services in Jackson, Mississippi and with J.C. Bradford & Company in New York, New York.

His BrokerCheck report shows that Highfill is the subject of one regulatory sanction and one civil judgment. He was also terminated from Morgan Stanley and Merrill Lynch.

The allegations against Highfill date back to 2008, when he was accused of endorsing a client’s check, at the client’s request to pay the client’s expenses. He was subsequently fired from his position at Morgan Stanley. Then, in 2014, Morgan Stanley reported a civil judgment of $286,000 that has yet to be satisfied.

In May of 2015, allegations against Highfill were made when he was accused of soliciting a loan from an elderly customer without the authorization of Merrill Lynch where he was a broker. He was then terminated from his position.

FINRA sanctioned Highfill in July of 2015 after he failed to provide the requested information in connection with an investigation of outside business activity. As a result, Highfill was permanently barred from associating with FINRA member firms.

If you have lost money or believe that your broker has been involved in any misconduct as it relates to your relationship with him/her, it’s advisable that you seek the services of an experienced securities attorney.

The attorneys at Silver Law Group are industry leaders in the field of FINRA and securities arbitration, representing individual and institutional investors nationwide who have lost money at the hands of trusted financial advisors. Our services are on a contingency-fee basis, which means we are only compensated if there is a recovery of losses. For more information, contact us for a complimentary consultation with one of our experience securities arbitration attorneys.