Closed End Funds

Archive | Closed End Funds

Investors Sue Wells Fargo For Mutual Fund Fraud

Harold Weber of Airmont New York a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim which was settled for $50,000.00 in damages based upon allegations that between December of 2012 and June of 2016: (1) transactions were executed in the customer’s account that were not […]

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Investors Complain Morgan Stanley Sold Bad Closed End Funds

October 22, 2018  |   Posted by :   |   Closed End Funds, Stockbroker Fraud News   |   0 Comments

Timothy Floyd Holladay of Mobile Alabama a stockbroker currently employed by Morgan Stanley is referenced in a customer initiated investment related written complaint on August 18, 2017 in which the customer requested $14,000.00 in damages based upon accusations that between April of 2012 and April of 2016, Holladay invested the customer’s money in closed-end funds […]

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Oppenheimer Sued By Customer For Churning

January 26, 2018  |   Posted by :   |   Churning, Closed End Funds, Stockbroker Fraud News   |   0 Comments

Paul Ellias Colchamiro, of Melville, New York, a stockbroker currently registered with Oppenheimer & Co. Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer sought at least $2,000,000.00 in damages founded on allegations including: closed-end funds and equities were effected in the customer’s account that were not suitable […]

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Wells Fargo Sued For Failure To Supervise

September 14, 2017  |   Posted by :   |   Closed End Funds, Stockbroker Fraud News   |   0 Comments

Kevin Foster Friedman, of Woodland Hills, California, a stockbroker formerly registered with Wells Fargo Clearing Services, is the subject of a customer initiated investment related arbitration claim, which settled for $1,100,000.00 in damages on May 2, 2017, based upon allegations of the failure to supervise a financial advisor who effected faulty closed-end fund transactions in […]

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Caprock President Fined For Supervisory Failures

January 03, 2017  |   Posted by :   |   Closed End Funds, Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Daryl Eugene Allison, of Lubbock, Texas, a stockbroker and former president of Caprock Securities, Inc., has been fined $10,000.00 and fined from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity based upon consenting to findings that, inter alia, Allison failed to supervise registered representatives’ closed end fund sales to customers. […]

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Ameriprise Financial Services Fails To Supervise Closed End Funds

Ameriprise Financial Services, headquartered in Minneapolis, Minnesota, was censured and fined $100,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm failed to create and adequately maintain a supervisory system to identify and prevent unsuitable trading in closed end funds. Letter of Acceptance, Waiver and Consent, No. 2014039843501 (June 20, 2016). […]

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