ALAN ROBERT RIFFLE

ALAN ROBERT RIFFLE is currently employed as a Broker and/or Investment Adviser at OPPENHEIMER & CO. INC. located at 711 LOUISIANA STREET, 15TH FLOOR, HOUSTON, TX, 77002.

ALAN ROBERT RIFFLE has worked at OPPENHEIMER & CO. INC. since March 20, 2009

Disclosure History

ALAN ROBERT RIFFLE has 2 Disclosure Event(s).

Date: October 13, 1993
Category: Employment Separation After Allegations
Firm Name: LEHMAN BROTHERS INC.
Termination Type: Permitted to Resign
Allegations: N/AAT TERMINATION, MR. RIFFLE WAS UNDER REVIEWIN CONNECITON WITH A CUSTOMER'S PURCHASE ON A SECONDARY OFFERINAND SUBSEQUENT SALE OF U.S. STEEL COMMON STOCK.
Broker Comment: UPON REVIEW, THE FIRM DETERMINED TO CANCEL THETRANSACTIONS AND CHARGE MR. RIFFLE WITH THE LOSS OF $5,551.00ALAN WERNER IS ONE OF MY BEST CLIENTS AND HASTRANSFERRED HIS ACCOUNT TO ME AT CWA. WHILE AT LEHMAN WE WEREVERY ACTIVE IN HIS ACCOUNT & PARTICIPATED IN IPO'S ANDSECONDARY OFFERINGS. IN KEEPING WITH MR. WERNER'S USUAL TRADINGLEVEL I PURCHASED 1,000 SHASRES OF USX AT 36 3/4. UNFORTUNATELYTHE SHARES DROPPED TO 28, UPON HIS AGREEMENT WE SOLD AT 30.AFTER THE LOSS I ADVISED HIM I WOULD TRY AND MAKE UP FOR THELOSS, ( I EVEN DISCUSSED TAKING THE LOSS PERSONALLY THEAPPROPRIATE INTERNAL PROCEDURES). IT WAS THEN AGREED THAT IWOULD TAKE THE LOSS TO RECTIFY THE PROBLEM. THERE WAS NOFURTHER COMPLAINT OR LETTER FROM MR. WERNER, HOWEVER, LEHMANBROTHERS FELT THE USX TRANSACTION WAS UNJUSTIFIABLE, THEYINITIATED AN INTERNAL REVIEW IN SEPTEMBER 1993. IN THE END IPAID THE LOSS THIS DAY WE HAVE AN EXCELLENT RELATIONSHIP. MR.WERNER WOULD NEVER HAVE MOVED HIS ACCOUNT TO COMMONWEALTHASSOC. HAD I NOT HANDLED HIS ACCOUNT AT LEHMAN IN A COMPLETELYAPPROPRIATE FASHION.

Date: April 23, 1993
Category: Customer Dispute
Allegations: THE STATEMENT OF CLAIMS ALLEGED UNSUITABILITYAND CHURNING BY A SINGLE INDIVIDUAL AND ALLEGED DAMAGES IN ANAMOUNT NOT LES THAN $95,000 AGAINST THE APPLICANT, HISEMPLOYER, A NATIONAL SECURITIES FIRM, AND ANOTHER EMPLOYEE OFTHAT SECURITIES FIRM.
Damage Amount Requested: $95,000.00
Broker Comment: APPLICANT CONTRIBUTED $10,000 IN SETTLEMENT OFALL CLAIMS ALLEGED AGAINST HIM AND RECEIVED A RELEASE FROM THECLAIMANT AND DISMISSAL OF THE ARBITRATION.THE STATEMENT OF CLAIM REFERRED TO ABOVE HAS BEENTHE ONLY STATEMENT EVER COMMENCED AGAINST THE APPLICANT. THEARBITRATION WAS SETTLED FOR AN AMOUNT SUBSTANTIALLY LESS THANTHAT SOUGHT BY THE CLAIMANT TO AVOID THE EXPENDITURE OF FUNDSAND TIME THAT WOULD HAVE BEEN REQUIRED TO DEFEND THEALLEGATIONS MADE BY THE CLAIMANT. HAD THE MATTER BEEN HEARD BYAN ARBITRATION PANEL, THE APPLICANT WOULD HAVE DEMONSTRATEDTHAT THE CLAIMANT WAS A SOPHISTICATED INVESTOR, WITHSUBSTANTIAL NET WORTH WHO HAD STATED THAT HIS INVESTMENTOBJECTIVE WAS "APPRECIATION WITH RISK." APPLICANT WOULD HAVEFURTHER DEMONSTRATED AT THE HEARING THAT THE CLAIMANT WAS AWAREOF AND APPROVED OF-- ON A CONSISTENT AND FREQUENT BASIS--THELEVEL OF TRADING IN HIS ACCOUNT. IN FACT, THE CLAIMANT RECEIVEDMONTHLY STATEMENTS OF HIS ACCOUNT'S ACTIVITY AS WELL ASCONFIRMATION.

More Information

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