Herbert H. Hafen of New York New York a stockbroker formerly employed by Wells Fargo Clearing Services LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Hafen failed to provide a response to FINRA after an inquiry was made into his activities possibly concerning Hafen’s discharge from Wells Fargo Clearing Services LLC or a customer dispute. Case No. 2018059821901 (Nov. 23, 2018).
According to FINRA Public Disclosure, Hafen was suspended by FINRA on November 23, 2018 based upon his failure to provide FINRA with information that had been requested of him. Evidently, if Hafen did not make a request for his suspension to be terminated by January 31, 2019, FINRA indicated that it would automatically bar him as of February 1, 2019.
Apparently, on August 21, 2018, Hafen was discharged by Wells Fargo Clearing Services LLC supported by accusations that he and the firm’s customers engaged in financial transactions that were not authorized by the firm.
Additionally, Hafen is referenced in a customer initiated investment related written complaint on September 27, 2018 where the customer sought $675,000.00 in damages founded on allegations that between July of 2011 and January of 2018, while Hafen was employed with Morgan Stanley Smith Barney, Hafen misappropriated the customer’s funds.
