Marc Francis Rogers (also known as Buck Rogers) of East Palo Alto California a stockbroker currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $1,300,000.00 in damages supported by accusations that (1) the customer was placed into investments and insurance products which were not appropriate and (2) false or misleading statements had been made concerning the returns and premium payments of a policy Rogers sold during the period when he was employed by Wells Fargo and Morgan Stanley. FINRA Arbitration No. 19-02109 (Aug. 8, 2019).
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Rogers has been identified in five more customer initiated investment related disputes which pertain to allegations of his misconduct while employed with U.S. Bancorp, Piper Jaffray Inc. and Wells Fargo. Specifically, a customer initiated investment related arbitration claim involving Rogers’ activities was resolved for $250,000.00 in damages based upon accusations that trades executed by the stockbroker were inappropriate for the customer; transactions were negligently administered; and the customer’s portfolio was churned during the time that Rogers was associated with Piper Jaffray Inc.
Another customer initiated investment related arbitration claim concerning Rogers’ conduct was settled for $210,000.00 in damages founded on allegations that securities laws and industry rules were violated through Rogers’ transactions; trades placed in the customer’s account failed to be suitable; transactions were executed by the stockbroker on an excessive basis; fiduciary duties had been violated; and the customer was defrauded as a result of Rogers’ activities while at U.S. Bancorp Piper Jaffray Inc.
In addition, Rogers is the subject of a customer initiated investment related arbitration claim in which the customer was awarded $4,179,116.00 in compensatory damages and $500,000.00 in punitive damages based upon Wells Fargo Advisers and Rogers being found liable on the customer’s causes of action including fraud; negligent supervision of the customer’s account; deceptive and manipulative practices; omissions and improper statements regarding investments; breach of fiduciary duty of loyalty; breach of contract; breach of good faith of fair dealing; breach of fiduciary duty of care; and unsuitable securities recommendations relating to the sale of Puerto Rico municipal bonds for the customer’s account which caused the customer to experience unwarranted losses. FINRA Arbitration No. 16-01066 (July 19, 2018).
Rogers has been registered with Wells Fargo since July 6, 2010.
