In January of 2015, we reported on our blog that former investment adviser Gregory Lunar Merrick (CRD# 2933448) was issued a cease and desist order from the Ohio Division of Securities. According to a new order, on February 12, 2016, the Securities and Exchange Commission issued orders instituting proceedings against Merrick.
Merrick has now submitted an Offer of Settlement to the SEC, which the SEC accepted.
Merrick allegedly marketed a “Controlled Asset Transfer System” to insurance agents. It was alleged that Merrick used the program to supposedly liquidate clients’ securities without the necessary information or without inquiring about the financial situations of the clients before determining if the liquidation was considered suitable.
He was also accused of breaching fiduciary duty.
By accepting Merrick’s offer, the SEC has barred him from any association with any persons in the securities industry, as well as from offering securities.
If you lost money while investing with Gregory Lunar Merrick during his time at SICOR Securities, Inc. or Signature Investments, Inc., contact our securities fraud lawyers today. Meyer Wilson offers free consultations so you can discuss the details of your potential case.