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CUSTOMER ALLEGES REPRESENTATIVE DID NOT FOLLOW TRADE INSTRUCTIONS TO BUY IN SHARES OF MEN'S WAREHOUSE ON FEBRUARY 28, 2014.
Damage Amount Requested
$18,169.00
Settlement Amount
$18,169.00
Broker Comment
MY ROLE IN THE MATTER WAS LIMITED TO INFORMING A SCHWAB CLIENT OF THE POTENTIAL FOR A FIRM INITIATED BUY IN OF A SHORT POSITION. I WAS NOT ASKED TO CONTRIBUTE TO THE FIRM INITIATED SETTLEMENT OF THE DISPUTE.
A brokerage firm, also called a broker-dealer, is in the business of buying and selling securities – stocks, bonds, mutual funds, and certain other investment products – on behalf of its customer (as broker), for its own bank (dealer), or both. Individuals who work for broker-dealers - the sales personnel are commonly referred to as brokers.
IA
Investment Adviser
An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services.
Disclosures
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.
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.