Tag Archives: Wells Fargo Clearing Services LLC

Wells Fargo Stockbroker Sanctioned By FINRA

April 18, 2021  |   Posted by :   |   Investment and Regulatory News, Selling Away and Outside Activities   |   Comments Off on Wells Fargo Stockbroker Sanctioned By FINRA

Gordon Leonard Bryan of Terre Haute Indiana a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been fined $5,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on findings that he engaged in undisclosed outside business activities involving customers of the securities […]

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Wells Fargo Stockbroker Barred In Selling Away Scheme

March 08, 2021  |   Posted by :   |   Investment and Regulatory News, Selling Away and Outside Activities   |   Comments Off on Wells Fargo Stockbroker Barred In Selling Away Scheme

Scott Wayne Reed of Scottsdale Arizona a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings of Reed taking part in $3,500,000.00 worth of private securities transactions during the time that he was associated with Wells […]

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FINRA Bars Wells Fargo Stockbroker In Investigation

March 08, 2021  |   Posted by :   |   Investment and Regulatory News, Unauthorized Trading   |   Comments Off on FINRA Bars Wells Fargo Stockbroker In Investigation

Darrell Anthony Smith Jr of Memphis Tennessee a stockbroker formerly registered with Wells Fargo Clearing Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he failed to cooperate with FINRA personnel during the time that he was investigated for allegedly effecting unauthorized transactions […]

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Investors File Arbitration Claim Against Wells Fargo

February 01, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Mutual Fund Fraud   |   Comments Off on Investors File Arbitration Claim Against Wells Fargo

Herbert Lee Weith IV of Naples Florida a stockbroker formerly registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $260,000.00 in damages supported by accusations of the stockbroker’s unsuitable recommendations as it pertained to a mutual fund and annuity […]

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Wells Fargo Stockbroker Sanctioned For Unauthorized Trading

January 19, 2021  |   Posted by :   |   Investment and Regulatory News, Unauthorized Trading   |   Comments Off on Wells Fargo Stockbroker Sanctioned For Unauthorized Trading

Paul Lawrence Fowler Jr. of Washington DC a stockbroker formerly registered with Wells Fargo Clearing Services has been fined $5,000.00 and suspended for one month from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Fowler executed unauthorized trades in a customer’s account when he was associated with […]

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Investors Accuse Wells Fargo Of Unauthorized Trading

January 03, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unauthorized Trading   |   Comments Off on Investors Accuse Wells Fargo Of Unauthorized Trading

Richard Clarence DeYoung Jr. of The Woodlands Texas a stockbroker and investment adviser representative of Wells Fargo Clearing Services is referenced in a customer initiated investment related written complaint on March 12, 2020 in which the customer sought more than $5,000.00 in damages supported by allegations that unauthorized transactions were executed in the customer’s account […]

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Wells Fargo Stockbroker Barred For Failure To Pay Arbitration Award

January 03, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on Wells Fargo Stockbroker Barred For Failure To Pay Arbitration Award

Nelson Michael Polun of Bel Air Maryland 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 accusations that Polun neglected to comply with FINRA’s request for information about his activities. Case No. 2019061783501 (Nov. 11, 2020). […]

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Investors File FINRA Securities Arbitration Against Wells Fargo File For Unauthorized Trading

December 07, 2020  |   Posted by :   |   Breach of Fiduciary Duty, Investment and Regulatory News, Unauthorized Trading   |   Comments Off on Investors File FINRA Securities Arbitration Against Wells Fargo File For Unauthorized Trading

Richard Jay Bernstein (also known as Richard Jay Berstein) of Incline Village Nevada a stockbroker and investment adviser representative of Wells Fargo Clearing Services is the subject of a customer initiated investment related arbitration claim which was settled for $15,000.00 in damages based upon allegations that unauthorized trades were executed in the customer’s account and […]

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Investors Accuse Wells Fargo Of Unsuitable Trading

December 01, 2020  |   Posted by :   |   Securities Arbitration Claims, Unsuitable Investment Recommendations   |   Comments Off on Investors Accuse Wells Fargo Of Unsuitable Trading

David Michael Logsdon of Hailey Idaho a stockbroker and investment adviser representative of Wells Fargo Clearing Services is referenced in a customer initiated investment related written complaint which was settled for $20,000.00 on July 22, 2020 supported by allegations that investments selected for the customer’s Wells Fargo portfolio failed to be suitable and resulted in […]

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FINRA Sanctions Wells Fargo For Providing Customers Fraudulent REIT Values

December 01, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Securities Fraud   |   Comments Off on FINRA Sanctions Wells Fargo For Providing Customers Fraudulent REIT Values

First Clearing LLC (now known as (Wells Fargo Clearing Services LLC) has been censured and fined $300,000.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that First Clearing provided 6,800 customers with wrong valuations on direct participation program interests and non-traded real estate investment trusts and had failed to supervise its business with a […]

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Wells Fargo Sanctioned By FINRA For Failure To Supervise Annuity Switches

September 30, 2020  |   Posted by :   |   Failure To Supervise, Securities Arbitration Claims, Variable Annuites   |   Comments Off on Wells Fargo Sanctioned By FINRA For Failure To Supervise Annuity Switches

Wells Fargo Clearing Services LLC a securities broker dealer headquartered in Saint Louis Missouri has been censured and fined $625,000.00 by Financial Industry Regulatory Authority (FINRA) supported by findings that Wells Fargo failed to supervise the suitability of customers’ switches from variable annuities to other investment products through transactions initiated by Wells Fargo stockbrokers. Letter […]

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Wells Fargo Accused Of Charging Investors Excessive Commissions

September 30, 2020  |   Posted by :   |   Excessive Trading, Securities Arbitration Claims   |   Comments Off on Wells Fargo Accused Of Charging Investors Excessive Commissions

Michael Shon Hickey of Mission Viejo California a stockbroker and investment adviser representative of Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on July 21, 2020 in which the customer requested $25,000.00 in damages founded upon accusations that the Wells Fargo customer had been charged excessive commissions as […]

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New Jersey Bureau Of Securities Expells Wells Fargo Stockbroker

September 14, 2020  |   Posted by :   |   Misappropriation of Funds, Securities Arbitration Claims, Stockbroker Theft, Unauthorized Trading   |   Comments Off on New Jersey Bureau Of Securities Expells Wells Fargo Stockbroker

Ramon Arturo Herrera of Jersey City New Jersey a stockbroker and financial advisor formerly registered with Wells Fargo Clearing Services LLC is the subject of a New Jersey Bureau of Securities Order dated October 18, 2019 in which Herrera’s stockbroker and investment adviser representative registrations in the State of New Jersey have been revoked based […]

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FINRA Bars Wells Fargo Stockbroker In Investigation

September 14, 2020  |   Posted by :   |   Securities Arbitration Claims, Selling Away and Outside Activities, Variable Annuites   |   Comments Off on FINRA Bars Wells Fargo Stockbroker In Investigation

Peter Vincent Ianace of Plano Texas a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on findings that he failed to cooperate with a FINRA investigation into allegations of him engaging in undisclosed outside business activities during […]

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Wells Fargo Terminates Stockbroker For Cause

August 27, 2020  |   Posted by :   |   Forgery   |   Comments Off on Wells Fargo Terminates Stockbroker For Cause

Jonathan Richard Lake (also known as Jon Lake) of Stamford Connecticut a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been discharged on December 2, 2019 based upon accusations that the stockbroker procured funds from a customer in violation of company policy. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Lake has […]

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SEC Bars Wells Fargo Stockbroker For Fraud

July 29, 2020  |   Posted by :   |   Misappropriation of Funds, Securities Fraud, Stockbroker Theft   |   Comments Off on SEC Bars Wells Fargo Stockbroker For Fraud

E. Herbert H. Hafen (also known as Elias Herbert Hafen and as Elias Herbert Niggebrugge) of New York New York a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been barred from being a stockbroker or an investment adviser representative according to a Securities and Exchange Commission (SEC) Order based on findings of […]

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FINRA Catches Wells Fargo Stockbroker Selling Away Cryptocurriencies

July 11, 2020  |   Posted by :   |   Selling Away and Outside Activities   |   Comments Off on FINRA Catches Wells Fargo Stockbroker Selling Away Cryptocurriencies

Ryan Matthew Davis of Mahwah New Jersey a stockbroker formerly employed by Wells Fargo Clearing Services LLC has been fined $15,000.00 and suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Davis engaged in undisclosed outside business activities and private securities transactions and […]

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Wells Fargo Accused By Investors Of Reverse Churning

July 11, 2020  |   Posted by :   |   Churning   |   Comments Off on Wells Fargo Accused By Investors Of Reverse Churning

Leslie Anne Juron of Sarasota Florida a stockbroker and investment adviser representative of Wells Fargo Clearing Services has been identified in a customer initiated investment related written complaint on July 22, 2019 where the customer sought more than $5,000.00 in damages founded on accusations that the customer had been overcharged by Juron on investments held […]

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Wells Fargo Sued By Investors For Unsuitable Investment Advice

June 23, 2020  |   Posted by :   |   Inverse/Leveraged ETF Funds, Securities Arbitration Claims, Unauthorized Trading   |   Comments Off on Wells Fargo Sued By Investors For Unsuitable Investment Advice

Evan Richard Wuhl of New York New York a stockbroker currently registered with Wells Fargo Clearing Services is the subject of a customer initiated investment related arbitration claim which was settled for $400,000.00 in damages based upon allegations that stock recommendations which had been made by Wuhl failed to be suitable given the customer’s risk […]

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Wells Fargo Terminates Stockbroker For Selling Away

June 03, 2020  |   Posted by :   |   Selling Away and Outside Activities   |   Comments Off on Wells Fargo Terminates Stockbroker For Selling Away

Scott Wayne Reed of Scottsdale Arizona a stockbroker formerly employed by Wells Fargo Clearing Services LLC has been terminated on April 7, 2020 founded on accusations of him advising customers of Wells Fargo Advisors to purchase investments that were neither offered nor approved by the securities broker dealer. According to Wells Fargo, customers’ investment transactions […]

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Wells Fargo Stockbroker Sanctioned For Selling Away

June 03, 2020  |   Posted by :   |   Securities Arbitration Claims, Selling Away and Outside Activities   |   Comments Off on Wells Fargo Stockbroker Sanctioned For Selling Away

Jason Nicholas Dukas of Clearwater Florida a stockbroker formerly registered with Wells Fargo Clearing Services has been fined $15,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in unapproved private securities transactions during the time that he […]

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Wells Fargo Stockbroker Barred For Failure To Pay Employer Note

May 12, 2020  |   Posted by :   |   Securities Arbitration Claims   |   Comments Off on Wells Fargo Stockbroker Barred For Failure To Pay Employer Note

Richard Alan Shotz of Daytona Beach Florida a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been suspended by Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member in any capacity based upon accusations that the stockbroker either failed to comply with a customer initiated investment related arbitration award or settlement […]

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Wells Fargo Stockbroker Barred In Investigation

May 12, 2020  |   Posted by :   |   Securities Arbitration Claims, Unsuitable Investment Recommendations   |   Comments Off on Wells Fargo Stockbroker Barred In Investigation

Bryan Edwin Benson of Tucson Arizona a stockbroker formerly registered with 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 did not cooperate with a FINRA investigation concerning a customer complaint. Letter of Acceptance Waiver and […]

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Investors Accuse Wells Fargo Of Unsuitable Investment Advice

April 18, 2020  |   Posted by :   |   Investment and Regulatory News, Over Concentration, Securities Arbitration Claims   |   Comments Off on Investors Accuse Wells Fargo Of Unsuitable Investment Advice

Charles Bernard Lynch Jr. (also known as Charlie Bernard Lynch) of Irvine California a stockbroker formerly employed by Wells Fargo Advisors LLC (now known as Wells Fargo Clearing Services LLC) has been identified in a customer initiated investment related complaint which was resolved on January 18, 2019 for $50,000.00 in damages founded on accusations that […]

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FINRA Bars Wells Fargo Stockbroker For Customer Theft

April 08, 2020  |   Posted by :   |   Elder Financial Abuse, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on FINRA Bars Wells Fargo Stockbroker For Customer Theft

Demaurio Cortez Clark of Acworth Georgia a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he converted an elderly Wells Fargo customer’s funds. Letter of Acceptance Waiver and Consent No. 2019064268201 (Mar. 27, 2020). […]

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Wells Fargo Sued By Investors For Unauthorized Trading

Andrew Stephen Vitek Jr. of Jenkintown Pennsylvania a stockbroker formerly employed by Wells Fargo Clearing Services LLC has been identified in a customer initiated investment related arbitration claim where the customer sought at least $152,000.00 in damages founded on accusations that (1) mutual funds and structured products were not suitable for the customer given their […]

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Investors File FINRA Arbitration Claim Against Wells Fargo

February 25, 2020  |   Posted by :   |   Investment and Regulatory News, Unauthorized Trading   |   0 Comments

Marcus Duane Parker of Santa Fe New Mexico a stockbroker associated with Wells Fargo Clearing Services LLC has been referenced in a customer initiated investment related civil action in which the customer requested unspecified damages supported by allegations that transactions were facilitated in the customer’s account by the stockbroker without authorization in 2017 when Parker […]

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Wells Fargo Stockbroker Sanctioned For Customer Loan

January 10, 2020  |   Posted by :   |   Customer Loans, Investment and Regulatory News   |   0 Comments

Glen Joseph Webster of Atlanta Georgia a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Webster’s consent to findings that he engaged in a prohibited borrowing arrangement with a customer of Wells Fargo. […]

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Merrill Lynch Sued By Investors For Misappropriation

James Robert Schaedler Jr. of Anaheim California a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. and Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related arbitration claim in which the customer sought $964,872.23 in damages based upon accusations that funds provided to Schaedler for the customer’s mutual fund […]

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Investors Accuse Wells Fargo Of ETF Misconduct

January 09, 2020  |   Posted by :   |   Inverse/Leveraged ETF Funds, Investment and Regulatory News   |   0 Comments

Byron Del Piro of Bellevue Washington a stockbroker currently employed by Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related written complaint on January 31, 2018 where the customer sought $73,000.00 in damages supported by accusations that between September of 2013 and January of 2018: (1) exchange traded fund recommendations […]

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