Articles Tagged with Buck Permanently Barred by FINRA

Allegations include misrepresentation and other misconduct

Thomas Joseph Buck’s 33-year career in the securities industry, beginning with Merrill Lynch, Pierce, Fenner & Smith, Inc (Merrill Lynch) in December 1981 is now over. According to the Financial Industry Regulatory Authority (FINRA) Department of Enforcement document filed on July 24, 2015, Buck allegedly engaged in misrepresentations and other misconduct while handling client accounts.

According to the filing, beginning in at least 2009, Buck engaged in unethical and improper business practices that increased his status as a top-producing broker. It is alleged that Buck placed customer assets in commission-based accounts that resulted in higher commission-earnings on his part, even though Buck knew customers would have paid less to maintain fee-based accounts. In addition, Buck allegedly not only misled customers in the relative costs associated with these accounts, he exercised discretion in customer accounts without written or oral authorization and made unauthorized trades in certain customer accounts.