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CUSTOMERS ALLEGE THAT IN MARCH 2014, RR WAS SUPPOSED TO PUT SOME FUNDS INTO A NEW MUTUAL FUND BUT INSTEAD ENDED UP PUTTING THE FUNDS INTO THEIR EXISTING MUTUAL FUND WITHOUT THEIR AUTHORIZATION AND THEN MOVED THE FUNDS INTO THE NEW FUND SEVERAL DAYS LATER. THEY ALLEGE THAT THIS TRANSACTION COST THEM A LOSS OF $9,952.46 AND THEY REQUEST REIMBURSEMENT OF THIS LOSS.
Damage Amount Requested
$9,952.46
Broker Comment
AFTER REVIEW, THE FIRM FOUND NO BASIS FOR THIS COMPLAINT.
10/28/2008
Customer Dispute
Denied
Allegations
MEMBER'S ATTORNEY IS ALLEGING THAT THE PRODUCT WAS NOT SUITABLE BASED ON HER LACK OF PRIOR INVESTMENT EXPERIENCE AND CURRENT DISABILITY STATUS. FIRM'S INVESTIGATION FOUND NO EVIDENCE OF WRONGDOING AND DENIED REQUEST FOR FINANCIAL RELIEF.
Damage Amount Requested
$66,521.80
8/22/2006
Customer Dispute
Settled
Allegations
MEMBER ALLEGES HE WAS TOLD THE VARIABLE UNIVERSAL LIFE PRODUCT COULD BE USED FOR COLLEGE FUNDING PURPOSES. NO EVIDENCE FOUND TO SUPPORT THIS ALLEGATION. FILE CLOSED WITH NO FURTHER ACTION TAKEN. * ADDITIONAL INFORMATION PROVIDED BY MEMBER. ACCEPTED GOODWILL GESTURE FOR REIMBURSEMENT EQUAL TO ONE-HALF TOTAL PREMIUMS PAID. FILE CLOSED.
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.