BRADLEY BRUCE ARCHER is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 6320 S WESTERN AVE STE 100, SIOUX FALLS, SD, 57108.
BRADLEY BRUCE ARCHER has worked at WELLS FARGO CLEARING SERVICES, LLC since June 27, 2014
Disclosure History
BRADLEY BRUCE ARCHER has 1 Disclosure Event(s).
Date: April 25, 2008 Category: Customer Dispute Allegations: CLIENT ALLEGED THAT HE MADE INVESTMENT BASED ON BROKER'S ASSURANCES THAT THE INVESTMENT WAS LIKE A MONEY MARKET ACCOUNT (VERY LIQUID) AND COULD BE SOLD, AT PAR, AT ANY TIME OR IN THE WORST CASE 28-30 DAYS. DAMAGES WERE BELIEVED TO EXCEED $5,000. (2007-2008) Settlement Amount: $300,000.00 Broker Comment: THIS MATTER INVOLVES THE SALE OF AUCTION RATE SECURITIES (ARS). THE TRANSACTION(S) AT ISSUE TOOK PLACE BEFORE MID-FEBRUARY 2008, WHEN THE ARS MARKET SUFFERED WIDESPREAD AUCTION FAILURES AND ILLIQUIDITY. THE FINANCIAL ADVISOR DID NOT CAUSE, CONTRIBUTE OR HAVE ANY CONTROL WHATSOEVER OVER THESE MARKET EVENTS. THE FIRM REACHED AGREEMENT WITH CERTAIN OF ITS REGULATORS, PURSUANT TO WHICH IT REPURCHASED ARS FOR THEIR FULL PAR VALUE FROM CERTAIN CLIENTS, INCLUDING THE INSTANT CLIENT, WHETHER THEY COMPLAINED OR NOT. THE FINANCIAL ADVISOR WAS NOT A PARTY TO THAT AGREEMENT, DID NOT MAKE ANY PAYMENTS TO THE CLIENT, AND WAS NOT ASKED TO AND DID NOT CONTRIBUTE TO THE REPURCHASE AMOUNT. THE SETTLEMENT AMOUNT IN ITEM 11 ABOVE REFLECTS THE PAR VALUE OF THE REPURCHASED ARS, AS REQUIRED BY FINRA REGULATORY NOTICE 09-12.
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