Investors File FINRA Arbitration Claim Against Wells Fargo

money 007 1 - Investors File FINRA Arbitration Claim Against Wells Fargo

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 had been employed by Wells Fargo. Civil Action No. D-101-CV-2019-01766 (Aug. 19, 2019).

This is not the first time that Parker has been referenced in a customer initiated investment related dispute concerning accusations of his misconduct in the securities industry. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Parker is referenced in a customer initiated investment related complaint where the customer sought unspecified damages founded on accusations of bad investment recommendations being made to the customer concerning a variable annuity that Parker sold during the time that he was employed by Merrill Lynch Pierce Fenner and Smith Inc.

Parker has been barred from associating with any FINRA member in any capacity based upon accusations that the stockbroker failed to provide information and documentation to FINRA personnel during the period in which he was under investigation for possibly misappropriating funds from the accounts of Wells Fargo Clearing Services customers. Letter of Acceptance Waiver and Consent No. 2017056689601 (Feb. 16, 2018). Parker’s registration with Wells Fargo has been terminated as of December 12, 2017.