Donald Norman Rich, of Stamford, Connecticut, a stockbroker registered with Wells Fargo Advisors Financial Network LLC, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $20,000.00 in damages based upon allegations that Rich failed to follow the customer’s instructions when Rich was associated with Wells Fargo Clearing Services LLC. FINRA Arbitration No. 20-01625 (April 24, 2023).
This is not the first time Rich has been referenced in a customer initiated investment related dispute. FINRA Public Disclosure shows that Rich was also referenced in a customer initiated investment related civil action that was settled for $150,000.00 in damages based upon allegations that Rich engaged in unauthorized margin use during the time that Rich was associated with Shearson Lehman Hutton. Civil Action No. 87 CIV. 2010.
Rich was also the subject of a customer initiated investment related complaint filed on October 30, 2002, in which the customer requested $101,227.40 in damages based on allegations that Rich made unsuitable recommendations, deposited a customer check into his personal account, refused to return money to the customer, engaged in unauthorized trading, and committed fraud when Rich was associated with UBS Financial Services Inc. The securities broker dealer denied this complaint.
Rich was associated with Wells Fargo Clearing Services LLC in Old Greenwich, Connecticut from October 25, 2013, to November 3, 2023. Rich has been associated with Wells Fargo Advisors Financial Network LLC in Stamford, Connecticut since November 3, 2023.
