Home Breadcrumb caret Industry News Breadcrumb caret Industry Panel tosses $1.3 million client complaint Merrill Lynch was handed a victory by a U.S. arbitration panel after expert witnesses testified the portfolio in question was diversified. By Staff | January 18, 2012 | Last updated on January 18, 2012 1 min read Merrill Lynch was handed a victory by a U.S. arbitration panel after expert witnesses testified the portfolio in question was diversified. The claimant originally sought $1.3 million in damages, plus fees and expenses. It charged brokers with, among other things, fraud, negligence and misrepresentation. The FINRA arbitrators found three of the four accounts in question were discretionary and being looked after by outside managers. The fourth was controlled by the claimant. Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo