ANNE LANE DAVIDSON is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 8115 PRESTON RD, STE 300, DALLAS, TX, 75225.
ANNE LANE DAVIDSON has worked at WELLS FARGO CLEARING SERVICES, LLC since July 01, 2003
ANNE LANE DAVIDSON has 8 Disclosure Event(s).
Date: December 03, 2001 Category: Customer Dispute Allegations: CLIENT, VIA AN ATTORNEY, ALLEGES THAT MS. DAVDSON MADE "MISREPRESENTATIONS" ABOUT BONDS PURCHASED IN THE ACCOUNT AND THAT THESE BONDS WERE "AN UNSUITABLE VEHICLE." DAMAGES APPEAR TO BE IN EXCESS OF $5,000. THIS MATTER WAS NOT REPORTABLE PRIOR TO RECEIPT OF A WRITTEN COMPLAINT ON OR ABOUT 12/3/01. Damage Amount Requested: $17,887.00 Broker Comment: I PROPERLY REPRESENTED THE BONDS TO THE CLIENT AS "A" RATED. I DID NOT CATEGORIZE THE BONDS AS "EXTREMELY LOW RISK" OR "GUARANTEED." THE CIRCUMSTANCES THAT RESULTED IN THE DECLINE OF THE BONDS WERE AN UNFORSEEABLE EVENT THAT COULD NOT HAVE BEEN PREDICTED.
Date: September 27, 1995 Category: Customer Dispute Allegations: CLIENT ALLEGES UNSUITABILITY IN HIS PURCHASESOF MUTUAL FUNDS. CLIENT IS SEEKING $80,840.36 IN DAMAGES ANDRESCISSION OF THE HYPERION VAN CAMPEN AND PUTNAM IIINVESTMENTS. Damage Amount Requested: $100,000.00 Damages Granted: $41,846.25 Broker Comment: ARBITRATION PANEL AWARDED THE CLIAMANT A TOTALOF $56,545.00.PSI AND THE FA STRONGLY DISAGREE WITH THE AWARD.CLAIMANT WAS A WEALTHY SOPHISTICATED BUSINESSMAN WITH A HISTORYOF BUYING SIMILAR MUTUAL FUNDS AT OTHER FIRMS.
Date: May 02, 1992 Category: Employment Separation After Allegations Firm Name: SHERSON LEHMAN Termination Type: Discharged Allegations: VIOLATION OF FIRM'S POLICY Broker Comment: DISCHARGED FOR VIOLATION OF FIRM POLICY. ACCESS AND USE OF PROPRIETARY INFORMATION ( ROLODEX)
Date: July 10, 1989 Category: Customer Dispute Allegations: THE CLIENT ALLEGED UNAUTHORIZED TRADES IN THETRUST ACCOUNT. THE TRADES WERE LIQUIDATED EXCEPT THE WESTERNUNION POSITION WHICH, ACCORDING TO THE R.R. WAS HELD PURSUANTTO CLIENT'S INSTRUCTIONS. CLIENT HELD THE WESTERN UNION STOCKFOR OVER SIX MONTHS, DURING WHICH TIME IT DECLINED IN VALUE.ALLEGED DAMAGES IS APPROX. $15,000. Damage Amount Requested: $17,611.00 Damages Granted: $3,808.80 Broker Comment: $3808.80 WAS PAID BY PAINEWEBBER & F/A DID NOTCONTRIBUTE TOWARDS SETTLEMENT.[TRUSTEE], THE TRUSTEE, IS A SOPHISTICATEDINVESTOR WHO AUTHORIZED ALL TRANSACTIONS. HE LIQUIDATED ALLTRANSACTONS EXCEPT ONE WHICH HE CHOSE TO HOLD--THE WESTERNUNION. HAD HE LIQUATED IMMEDIATELY, THERE WOULD HAVE NOT BEENTHE LOSSES.
Date: November 07, 1988 Category: Regulatory
Date: February 17, 1987 Category: Customer Dispute Allegations: THE CLIENTS COMPLAINED THAT THEIR FUNDS WEREPLACED IN THE HUTTON INVESTMENT SERIES GOVERNMEN TFUND("H.I.S.") AND SUBJECTED TO MARKET RISK WITHOUT BEINGADEQUATELY INFORMED AS TO THE COST INVOLVED (DEFERRED SALESCHARGE) OR THE MARKET RISK. Damage Amount Requested: $33,104.78 Broker Comment: DAVIDSON PAID BACK TO E.F. HUTTON THE FULLAMOUNT OF THE SETTLEMENTS AFTER DEDUCTING PRORATA SHARE OFLOSSES WHICH WERE THE RESPONSIBILITY OF N.Y. OPERATIONS AND DST(FOR FAILING TO CORRECT ACCOUNTS IN A TIMELY MANNER). THISAMOUNT WOULD ALSO INCLUDE THE REVERSING OF ANY DEFERRED SALESCOMMISSIONS AND SHOULD RESULT IN DAVIDSON BEING CHARGED LESSTHAN $5,000 IN EACH ACCOUNT.THE PURCHASEES OF THE H.I.S. FUND WERERECOMMENDED BASED ON THE PRIOR PERFORMANCE OF THE THE FUND ASCOMPARED TO THE INVETMENTS THE CLIENTS WERE PREVIOUSLY IN. ALLTRADES WERE AUTHORIZED BY THE CLIENTS AND [CUSTOMER] IS ASOPHISTICATED INVESTOR AND SHOULD KNOW THAT GOVERNMENT BONDFUNDS DO DLUCTUATE IN VALUE. THIS WAS SETTLED IN ORDER TOPREVENT FURTHER LITIGATION EXPENSES AND DELAYS. I FEEL THAT A"YES" RESPONSE TO QUESTION 22H1 IS INAPPROPRIATE SINCE I WASNOT PERSONALLY LIABLE FOR THE ENTIRE AMOUNT OF THE CLAIM.
Date: September 15, 1982 Category: Employment Separation After Allegations Firm Name: MERRILL LYNCH, PIERCE, FENNER & SMITH Termination Type: Discharged Allegations: Not ProvidedDAVIDSON DID NOT FOLLOW INSTRUCTIONS IN THEPURCHSAE OF STOCK. UPON INVESTIGATION, FIRM DETERMINED THATDAVIDSON SOLICITED THE TRANSACTION IN VIOLATION OF FIRM POLICY. FIRM REIMBURSED CUSTOMER AND TWO OTHERS FOR A TOTAL AMOUNT OF$18,092.08. MR. DAVIDSON INFORMED ME THAT THE COMPLIANCEDEPARTMENT HAD RECOMMENDED HER TERMINATION DUE TO THE FACT THATTHREE CLIENTS INVESTED IN NORD RECOURCES, A STOCK IN WHICHMERRILL LYNCH DID NOT Broker Comment: TERMINATIONHAVE AN OPINION, BASE DON TAKEOVER RUMORS,DAVIDSON REPORTEDLY SOLICITED ORDERS IN A STOCK WHICH THE FIRMDOES NOT FOLLOW AND MISMARKED HER ORDER TICKETS TO INDICIATETHE TRADES WERE UNSOLICITED. SHE ALSO VIOLATED FIRM PROCEDURESAND POLICIES BY FAILING TO RESPOND IN A FORTHRIGHT FASHION WHENQUESTIONED BOUT THE SUBJECT TRADES, BETWEEN JUNE AND JULY OF1982. ADDITIONAL INFORMATION RECEIVED FROM E.F. HUTTONDISCLOSES THAT DUE TO THE COMPLAINTS, DAVIDSON LOSTAPPROXIMATELY $15,000 IN COMMISSIONS, DUE TO HER, FROM MERRILLLYNCH.
Date: July 01, 1982 Category: Customer Dispute Allegations: [CUSTOMER] PURCHASED 2000 SHARES OF NORDRESOURCES COMMON STOCK, ALLEGEDLY BASED ON TAKEOVER RUMORS. HESENT A COMPLAINT LETTER TO RECOUP DAMAGES OF APPROX. $20,000. Damage Amount Requested: $20,000.00 Settlement Amount: $18,092.08 Broker Comment: ANNE DAVIDSON LOST APPROXIMATELY $15,000 INCOMMISSIONS OWED HER BY MERRILL LYNCH TO SETTLE. FIRM SETTLEDWITH CUSTOMER AND TWO OTHERS FOR A TOTAL OF $18,092.08. TODAVIDSON'S KNOWLEDGE, OTHERS DID NOT INITIATE COMPLAINTS FOR400 SHARES AND 500 SHARES. MERRILL IN THEIR INVESTIGATION,SETTLE WITH THEM.NOT PROVIDED
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