Wells Fargo Advisors Sued By For Unauthorized Trading
Shahida Arunima Hossain, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related written complaint on February 24, 2017, based upon allegations that Hossain invested the customer’s assets in a manner which exceeded the customer’s conservative investment objectives, and utilized margin in the customer’s investment account despite lacking authorization.
Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals that on February 7, 2017, a customer filed an investment related written complaint involving Hossain’s conduct, in which the customer requested $15,000.00 in damages based upon allegations that Hossain failed to execute upon the customer’s instructions to liquidate a variable annuity investment.
On December 19, 2016, Hossain’s registration with Wells Fargo Advisors was terminated based upon allegations that he violated his firm’s policies by entering a loan arrangement with a customer. Since December 19, 2016, Hossain has been registered with RBC Capital Markets, LLC.
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