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 Consent No. 2019061374201 (Apr. 27, 2020).
According to the AWC, on April 14, 2020, Benson was asked by FINRA to provide documents and information in regard to a customer initiated investment related complaint. Benson informed FINRA by e-mail that he understood the regulator’s request. The stockbroker confirmed with FINRA that he would not hand over the requested documentation or information at any point in the regulator’s investigation. FINRA found the stockbroker’s refusal to cooperate in this regard to be violative of FINRA Rules 2010 and 8210.
FINRA Public Disclosure also reveals that a customer initiated investment related arbitration claim involving Benson’s conduct was settled for $415,000.00 in damages on June 29, 2017 based upon allegations that the customer had been placed into direct investments including direct participation program interests and limited partnership interests that were unsuitable for the customer while Benson was registered with Wells Fargo.
Benson’s registration with Wells Fargo has been terminated as of January 3, 2020.