Douglas Hart Birnie of Herndon Virginia a stockbroker formerly employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on May 17, 2018 where the customer sought more than $5,000.00 in damages based upon allegations that on January 24, 2018: (1) omissions had been made to the customer concerning the fees and charges on a variable annuity sold to the customer and (2) the customer was placed into an investment that was in no way appropriate for the customer.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Birnie is referenced in two more customer initiated investment related disputes pertaining to accusations of his violative conduct while employed with Banc of America Investment Services Inc. and Morgan Stanley. Specifically, on September 24, 2003, a customer initiated investment related complaint regarding Birnie’s activities was resolved for $60,000.00 in damages supported by allegations that investment recommendations made for the customer’s managed account were not suitable during the time that Birnie was associated with Morgan Stanley.
Thereafter, a customer filed an investment related complaint concerning Birnie’s activities in which the customer requested unspecified damages founded on accusations that while Birnie was associated with Banc of America Investment Services Inc., omissions had been made to the customer concerning the losses realized on the liquidation of corporate debt investments held in the customer’s investment portfolio.
Birnie’s registration with Wells Fargo Clearing Services LLC was terminated on March 8, 2017. Between March 14, 2017 and December 31, 2017, Birnie was associated with Niagara International Capital Limited.
