Marcus Duane Parker of Santa Fe New Mexico a stockbroker formerly employed by Wells Fargo Clearing Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA in an investigation into allegations that he misappropriated funds from a customer of the firm. Letter of Acceptance Waiver and Consent No. 2017056689601 (Feb. 16, 2018).

Wells Fargo reported to FINRA on December 12, 2017 that Parker had been terminated because he neglected to appear for the company’s internal investigation into his possible misappropriation of funds from accounts belonging to a firm customer. FINRA followed up regarding the basis of Parker’s termination from Wells Fargo, requesting on December 13, 2017 that Parker provide information and documentation to the regulator according to Rule 8210.

The AWC stated that Parker was responsible for providing FINRA with the information and documentation by December 27, 2017; however, Parker failed to respond. Parker’s counsel contacted FINRA on February 1, 2018, revealing that Parker comprehended FINRA’s multiple requests for his information but would at no point cooperate. FINRA found that Parker’s conduct was violative of FINRA Rules 2010 and 8210.

FINRA Public Disclosure reveals that on February 25, 2009, a customer filed an investment related complaint concerning Parker’s activities where the customer requested damages estimated to exceed $5,000.00 based upon accusations that Parker made unsuitable investment recommendations to a customer while Parker was associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Clearing Services.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, or other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer

Guiliano Law Group

Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com