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
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
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.