CAO TRI TRAN is currently employed as a Broker and/or Investment Adviser at CITY NATIONAL SECURITIES, INC. located at 555 SOUTH FLOWER STREET,, TWELFTH FLOOR, LOS ANGELES, CA, 90071.
CAO TRI TRAN has worked at CITY NATIONAL SECURITIES, INC. since May 16, 2018
CAO TRI TRAN has 2 Disclosure Event(s).
Date: February 25, 2008 Category: Customer Dispute Allegations: CLIENT CLAIMS HE DID NOT UNDERSTAND THAT VALUE OF PRODUCT COULD FLUCTUATE. NO SPECIFIC DAMAGES STATED, THOUGH CLIENT REQUESTS RETURN OF PRINCIPAL INVESTMENT. Settlement Amount: $15,725.90 Broker Comment: IN DECEMBER OF 2006, I MET WITH THE CLIENT IN SAN JOSE, CA BECAUSE HE WAS INQUIRING ABOUT EARNING A HIGHER RATE OF RETURN ON HIS MONEY. AFTER PROFILING HIM, HE ADMITTED TO ME HE HAD NO PLANS TO USE THE MONEY FOR AT LEAST 3-5 YEARS. ALL THE PROPER PAPERWORK WAS SIGNED AND THE TRADE WAS APPROVED BY COMPLIANCE. THE CLIENT RECEIVED A PROSPECTUS AND MONTHLY STATEMENTS THAT SHOWED FLUCTUATIONS TO HIS PRINCIPAL. IN JANUARY OF 2007, I TRANSFERRED BACK TO SOUTHERN CALIFORNIA GIVING UP ALL MY CLIENTS AND LEAVING THEM WITH A LOCAL BROKER WITH THE FIRM TO MANAGE. IN DECEMBER OF 2007, THE CLIENT CALLED THE TRADING DESK TO LIQUIDATE HIS FUND, BUT WAS RECOMMENDED NOT TO BECAUSE THE FUND WAS A COUPLE OF DAYS AWAY FROM THE ONE YEAR ANNIVERSARY AND THE CLIENT WOULD BE SUBJECT TO A 1% CDSC. INSTEAD OF MOVING THE CLIENT TO THE MONEY MARKET FOR A COUPLE OF DAYS THEN LIQUIDATING, THE CLIENT WAS RECOMMENDED TO PUT THE MONEY BACK IN THE FUND AND WAIT FOR THE NEXT TENDER DATE. IT WAS DURING THIS TIME AT THE BEGINNING OF 2008 WHERE THE CLIENT'S ACCOUNT VALUE REALLY DECLINED AND HE VERBALLY COMPLANT. AT THE TIME OF THE COMPLAINT I WAS NOT THE BROKER OF RECORD FOR HE ACCOUNT AND DID NOT HAVE CONTACT WITH THE CLIENT FOR OVER A YEAR. FULL AND FAIR DISCLOSURE WAS GIVEN TO THE CLIENT AT THE TIME OF PURCHASE AND HE WAS HAPPY WITH THE VALUE OF HIS ACCOUNT WHEN HE CALLED THE TRADING DESK.
Date: March 28, 2003 Category: Customer Dispute Allegations: CLIENT ALLEGES THE FINANCIAL ASSOCIATE RECOMMENDED AN INVESTMENT THAT WAS UNSUITABLE BASED UPON THE CLIENTS NEEDS. THE INVESTMENT WAS PURCHASED ON SEPTEMBER 30, 2002. Damage Amount Requested: $9,663.56 Broker Comment: AN INVESTIGATION INTO THE CLIENTS CONCERNS REVEALED THAT FULL AND FAIR DISCLOSURE WAS PROVIDED TO THE CLIENT.
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A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
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