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MATTER SETTLED TO AVOID THE EXPENSE OF LITIGATION.
6/1/1991
Customer Dispute
Settled
Allegations
CUSTOMER ALLEGED UNSUITABLE PURCHASES OF
STRATEGIC INVESTMENT FUND FOR HIS IRA RESUTLED IN LOSSES OF
$30,000
Damage Amount Requested
$30,000.00
Settlement Amount
$18,000.00
Broker Comment
THE FIRM CONTENDED THAT THE CUSTOMER, AN
ATTORNEY, WAS FULLY AWARE OF THE NATURE AND RISKS OF THE FUND
AND AUTHORIZED ITS PURCHASE FOR HIS IRS. THE CUSTOMER
CONTROLLED HIS OWN ACCOUNT AND ELECTED TO HOLD THE FUND, RATHER
THAN MITIGATE HIS LOSSES.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
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Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.