Ross Allen Stein of New York New York a stockbroker currently employed by Wells Fargo Clearing Services is referenced in a customer initiated investment related arbitration claim which settled for $32,500.00 in damages based upon accusations that Stein placed municipal debt purchases in the customer’s account that were not suitable for the customer. FINRA Arbitration No. 17-01657 (Oct. 15, 2018).
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Stein has been identified in two additional customer initiated investment related disputes containing allegations of Stein’s violative conduct during the time that he was associated with Linsco / Private Ledger Corp. and Wachovia Securities, LLC. In particular, on January 27, 2000, a customer initiated investment related complaint involving Stein’s conduct was resolved for $85,000.00 in damages founded on accusations that while Stein was associated with Linsco / Private Ledger Corp., he omitted information about the risks of corporate bond investments, and placed the customer in investments that were in no way appropriate for the customer.
Further, on November 19, 2008, a customer filed an investment related complaint regarding Stein’s conduct where the customer requested $46,300.00 in damages supported by allegations that while Stein was associated with Wachovia Securities, LLC, unsuitable transactions were placed in the customer’s account and misrepresentations were made to the customer concerning equities products.
Stein has been registered with Wells Fargo Clearing Services LLC since January 1, 2008.
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