Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Boeck

The issues decided in this case are: (1) Does a commodities broker who undertakes to provide investment information and counsel to a customer with a nondiscretionary account, and who later learns that previously given information has been changed or was incorrect, have a fiduciary duty to disclose the latest information before the customer invests through the same broker in reliance on the original disclosure?(2) Under what circumstances can a commodities broker be held strictly responsible for misrepresentation concerning investment advice?(3) Based on the jury instructions on fiduciary duty…