Clara Chen Tang (also known as Qing Chen) of Cupertino California a stockbroker formerly registered with Cetera Investment Services LLC is the subject of a customer initiated investment related written complaint on March 20, 2019 in which the customer requested unspecified compensatory damages supported by accusations that the customer’s signature had been forged on documents to transfer funds from the customer’s account and to effect purchases of illiquid real estate security products during the time that Tang was associated with Cetera Investment Services.
This is not the first time that Tang has been involved in a customer dispute regarding allegations of her sales practice violations. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally shows that a customer initiated investment related arbitration claim involving Tang’s conduct was resolved for $15,000.00 in damages based upon accusations of elder abuse and the breach of an investment agreement between Tang and Cetera Investment Services. FINRA Arbitration No. 18-02896 (Sept. 30, 2019).
According to the claim, a fiduciary duty that was owed to the customer had been breached by the stockbroker as it pertained to investments in Business Development Corporation of America and real estate security products. The claim alleges that the investments Tang sold were in no way suitable for the customer and had caused the customer to sustain lost income.
Tang was registered with Cetera Investment Services between August 24, 2012 and May 8, 2018.