Indiana-based Broker Thomas Joseph 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.

Thomas Buck’s FINRA BrokerCheck report indicates that during his more than three decades in the securities industry, Buck had more than 20 customer disputes or complaints lodged against him. These included allegations of unauthorized trading, excessive trading and unsuitable investment recommendations. Damages awarded in the settled customer disputes or complaints against Buck exceed $3.5 million.

Buck was registered with RBC Capital Markets, LLC from April 2015 to July 2015. Prior to that Buck was registered with Merrill Lynch from December 1981 to April 2015.

If you have fallen victim to Thomas Joseph Buck or the misconduct of any fraudulent financial professional, you have the right to pursue your losses through securities arbitration. To have your case reviewed by an experience securities arbitration attorney at no cost, contact Silver Law Group today. Every case we take on is handled on a contingent-fee basis, which means you pay no legal fees unless we are successful on your behalf.