Ramon Arturo Herrera of Jersey City New Jersey a stockbroker formerly registered with 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 he declined to provide FINRA information that was requested of him by the regulator. Case No. 2018057425101 (May 7, 2018).
FINRA Public Disclosure confirms that Herrera received notification on April 11, 2018 that he would be suspended by FINRA for failing to respond to its requests for Herrera’s information. Herrera was ultimately suspended on May 7, 2018. FINRA informed Herrera that by July 16, 2018, he will be automatically barred from the securities industry unless he provides FINRA with sufficient documentation to terminate the suspension.
FINRA Public Disclosure reveals that Herrera is referenced in two customer initiated investment related disputes pertaining to accusations of Herrera’s misconduct while employed with Wells Fargo Advisors. Particularly, on March 16, 2018, a customer initiated investment related complaint involving Herrera’s conduct was settled for $105,000.00 in damages supported by allegations that trades were effected in the customer’s investment account on an excessive basis, and that funds were withdrawn from the customer’s savings account without the customer ever having provided authorization.
On April 4, 2018, a customer filed an investment related complaint concerning Herrera’s activities in which the customer requested $20,000.00 in damages founded on accusations that unauthorized withdrawals had been executed from the customer’s account on January 12, 2018.
Herrera’s registration with Wells Fargo Clearing Services has been terminated as of January 28, 2018.
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