Allegation(s) and a brief summary of events related to the allegation(s) including dates when activities leading to the allegation(s) occurred: Former client purchased mutual fund shares in September 2019. He then sold said shares at a loss in July of 2020. Almost 3 years after selling the mutual fund shares and more than 4 years after purchase thereof, client alleges that he intended to purchase California Municipal Bonds not Mutual Fund shares and that representative failed to follow his instructions.

$5,000.00

Customer purchased interest in unit investment trust securities in irrevocable trust account and a joint account in January of 2021. UITs came to term in April of 2022. Customer is dissatisfied with performance and alleges representative misrepresented unit investment trust to him in regard to fee structure and client claims he did not understand that his interest in the UITs would mature at a certain date.

$71,000.00

Customer purchased brokered certificate of deposit in March, 2016. Customer alleged that representative failed to adequately explain and disclose the terms and features of the product.

$5,850.00

$5,850.00

CUSTOMERS PURCHASED VARIABLE ANNUITY CONTRACT IN MAY, 2013. IN A LETTER TO THE ISSUING INSURANCE COMPANY, CLAIMED THAT THEY WERE TOLD THAT THEY WOULD BE ABLE TO WITHDRAW THEIR FULL INVESTMENT AMOUNT PLUS EARNED INTEREST, AT THE END OF THE SEVEN YEAR SURRENDER PERIOD. THEY ALSO CLAIM THAT THEY DID NOT KNOW THAT THE VALUE OF THEIR CONTRACT COULD FLUCTUATE AND EXPRESSED CONFUSION ABOUT OTHER CONTRACT TERMS.

$7,000.00

$5,691.00

Civil

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