Mamoun Chater
Background Of Mamoun Chater (CRD No. 6819865)
Chater first became registered with FINRA in January 2019. He was registered through
an association with Merrill Lynch, Pierce, Fenner & Smith, Inc. (CRD No. 7691) as a
General Securities Representative from October 2019 through February 2020, and as an
Investment Company and Variable Contracts Products Representative from September
2019 through February 2020. On February 13, 2020, Merrill Lynch filed a Uniform
Termination Notice for Securities Industry Registration (Form U5) stating that it had
terminated Chater’s registration due to his “failure to meet registration requirements.”
Chater is not currently registered or associated with a FINRA member firm. However, he
remains subject to FINRA’s jurisdiction pursuant to Article V, Section 4 of FINRA’s ByLaws.
Activity(s) Reported – Mamoun Chater
This matter originated from Merrill Lynch’s filing of a Form U5 after it terminated
Chater.
FINRA Rule 8210(a)(1) states, in relevant part, that FINRA may require a person subject
to its jurisdiction “to provide information orally, in writing, or electronically . . . and to
testify at a location specified by FINRA staff . . . with respect to any matter involved in [a
FINRA] investigation [or] examination.” FINRA Rule 8210(c) further states that “[n]o . .
. person shall fail to provide information or testimony . . . pursuant to this Rule.” A
violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010.
On August 27, 2020, in connection with an investigation into the circumstances of
Chater’s termination from Merrill Lynch, FINRA sent a request to Respondent for
documents and information pursuant to FINRA Rule 8210. As stated in his email
to FINRA on September 10, 2020, and by this agreement, Respondent
acknowledges that he received FINRA’s request and will not provide the
requested documents and information at any time. By refusing to provide the
requested documents and information as requested pursuant to FINRA Rule 8210,
Chater violated FINRA Rules 8210 and 2010.
Can you expose the broker trying to trick you?
FINRA offers the free web tool BrokerCheck, which allows users to check a broker’s credentials, registration, and employment history. The disclosure part of BrokerCheck includes information on client conflicts, disciplinary proceedings, and specific financial and legal issues on the broker’s record.
Penalties And Sanctions
a bar from associating with any FINRA member in any capacity.
Respondent understands that if he is barred or suspended from associating with any
FINRA member, he becomes subject to a statutory disqualification as that term is defined
in Article III, Section 4 of FINRA’s By-Laws, incorporating Section 3(a)(39) of the
Securities Exchange Act of 1934. Accordingly, he may not be associated with any
FINRA member in any capacity, including clerical or ministerial functions, during the
period of the bar or suspension. See FINRA Rules 8310 and 8311.
Recent Activity(s)Of The Individual/Firm
Chater refused to provide documents and information requested pursuant to FINRA Rule
8210, in violation of FINRA Rules 8210 and 2010.
How To Spot A Fraud Finance Advisor (Infographic)
Help For Victims Of Mamoun Chater
If you have lost funds because of misrepresentation, unsuitable investment, or unsuitable investment strategy from Mamoun Chater. Then you can take legal action and get justice. Fraud, Malpractice & dereliction of duty should not be taken lightly, especially in this industry. We highly suggest that you notify authorities or seek legal action if your financial advisor or brokerage firm fails to abide by FINRA’s rules are regulations.
Financial advisors are regulatory & legally obligated to suggest (recommend) the most suitable investments/investment strategies to their clients. Their suggestions should have their client’s best interests and should be appropriate for their client’s goals and needs. Similarly, the brokerage firm which hires financial advisors also has a regulatory & legal obligation to keep a close watch and supervise their Financial Advisors’ practices & behavior. They need to make sure that the financial advisor is not being manipulative or having an unreasonable bias towards certain investments. If the financial advisor and/or the brokerage firm breaches these duties, then the client/customer may be entitled to a full or partial recovery of their losses.
Financial advisors need to have the interest of their clients when giving suggestions related to investments and investment strategies. Reasonable basis suitability requires the advisor to do their best to analyze & identify the risks and rewards associated with their suggested investment and/or investment strategy.
James Couture
Dr. Henrique Duck, PhD in Media Studies and Critical Theory, specializes in writing detailed critics stories and reviews. He has contributed to prominent newspapers and websites, providing insightful analysis of media content and its effects on society.
