Compromise

Satisfied/Released

Client alleges misrepresentation regarding managed account investment. Activity dates 09/02/2020-09/02/2020.

$20,000.00

$4,950.25

Firm proposed a settlement to the customer while expressly denying any wrong doing or liability of any kind and entering into the release in order to solve the claim. Firm's investigation found no wrong doing or violation of policies and procedures. Client has apologized to the firm for creating the claim as she admitted she was not the original author of the written claim. Firm issued a "settlement payment" in the amount of the difference of the original deposit and the proceeds of the sale of the bonds held in the account and any other amounts received into the account prior to the disbursement of the settlement amount.

CUSTOMER POA/DAUGHTER CLAIMS RECOMMENDED BONDS (3) WERE MISREPRESENTED AND UNSUITABLE. BONDS WERE RECOMMENDED AND SOLD TO CLIENT IN JUNE, 2014.

$9,258.59

FIRM PROPOSED A SETTLEMENT AND RELEASE ON 11/26/2014 TO THE CUSTOMER WHILE EXPRESSLY DENYING AND DISPUTING WRONGDOING OR LIABILITY OF ANY KIND AND ENTERING INTO THE RELEASE IN ORDER TO RESOLVE THE CLAIM. FIRM WILL ISSUE A "SETTLEMENT PAYMENT" IN THE AMOUNT OF THE DIFFERENCE OF THE ORIGINAL DEPOSIT AMOUNT RECEIVED ON MAY, 2014 LESS MONEY MARKET FUNDS HELD IN THE ACCOUNT, THE PROCEEDS OF THE SALE OF THE BONDS HELD IN THE ACCOUNT AND ANY OTHER AMOUNTS RECEIVED INTO THE ACCOUNT PRIOR TO THE DISBURSEMENT OF THE SETTLEMENT AMOUNT.