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Former Merrill Lynch Broker, Christopher Hibbard, Fired and Supsended After Investor Accused Him of Theft

All capitals text of SUSPENDED on white square with green line above and below text

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On February 7, 2018, FINRA suspended Christopher Lee Hibbard due his alleged failure to cooperate with FINRA’s investigation into accusations he stole from an investor client.  FINRA (Financial Industry Regulatory Authority, Inc.) registers and regulates security brokers and brokerage firms.

Merrill Lynch had previously reported to FINRA on January 8, 2018 that it fired Hibbard due to allegations of his misconduct that included unauthorized transactions and theft.

Merrill Lynch’s actions occurred after a customer complaint filed with FINRA on December 29, 2017 accused Hibbard of unauthorized transactions and theft.  The complaint alleges the misconduct related to the customer’s variable annuity and money market fund investments.

The AdvisorHub recently reported that the Louisville Metro Police confirmed the FBI is investigating Hibbard.

Christopher Hibbard first registered as a General Securities Representative in 1999.  He was registered as a securities broker with Merrill Lynch from July 2010 until January 2018.

Options to Pursue a Recovery of Investment Losses

Securities rules and regulations prohibit brokers, like Christopher Hibbard, from making unauthorized transactions in their customers’ accounts.  Customers have the right to pursue claims in FINRA arbitration to recover their losses caused by misconduct such as theft and unauthorized transactions.

Additionally, brokerage firms, like Merrill Lynch, have a duty to closely monitor and supervise their brokers’ conduct, particularly when the brokers exercise discretionary authority in their customers’ accounts.  Customers have the right to bring claims to recover their losses caused by firms’ failures to adequately supervise their brokers’ misconduct, like theft and unauthorized transactions.  Moreover, brokerage firms are often found to be responsible for their brokers’ misconduct.

If you invested with Christopher Hibbard, contact Marquardt Law Office LLC to speak with a securities attorney and receive a free, no obligation case evaluation.  You may be able to recover your losses.

Marquardt Law Office LLC is a securities law firm located in Chicago, IL representing clients nationwide in FINRA arbitration who have suffered losses due to fraud and negligence.

Adam J. Marquardt

Adam Marquardt represents investors in securities litigation claims such as unsuitable investments, negligence, and fraud. He is dedicated to recovering financial losses for investors, primarily through FINRA arbitration. Adam’s background includes experience as a FINRA regulator, an accountant and auditor, and an attorney who recovered $8 million litigating cases involving fraudulent financial practices. Adam previously passed the Certified Public Accountant (CPA) exam and is an attorney licensed in Illinois.

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