Michael Jay Sharenow, of Florham Park, New Jersey, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related written complaint on November 1, 2016, based upon allegations that Sharenow effected unauthorized corporate debt securities transactions in the customer’s account.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Sharenow has been identified in four additional customer initiated investment related disputes containing allegations of Sharenow’s misconduct while employed with Wells Fargo Advisors, and J.B. Hanauer & Co. Specifically, on January 26, 2006, a customer filed an investment related written complaint involving Sharenow’s conduct, in which the customer requested $23,078.00 in damages based upon allegations that Sharenow effected a withdrawal in the customer’s individual retirement account without authorization.
Subsequently, on November 5, 2013, a customer filed an investment related written complaint regarding Sharenow’s activities based upon allegations that Sharenow misstated information concerning unit investment trust products, and effected unauthorized unit investment trust trades in the customer’s account. On May 27, 2016, a customer filed an investment related arbitration claim involving Sharenow’s conduct, in which the customer requested $35,000.00 in damages based upon allegations that from 2011 to 2015, Sharenow effected municipal debt securities transactions in the customer’s account which were not suitable.
Additionally, on October 25, 2016, a customer filed an investment related arbitration claim regarding Sharenow’s activities, in which the customer requested $810,000.00 in damages based upon allegations that Sharenow overconcentrated the customer’s investment account in bond funds that were not suitable for the customer.
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