DAVID TOWNSEND MCCUNE is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 225 S. LAKE AVE, STE 700, PASADENA, CA, 91101.
DAVID TOWNSEND MCCUNE has worked at WELLS FARGO CLEARING SERVICES, LLC since September 04, 1990
DAVID TOWNSEND MCCUNE has 3 Disclosure Event(s).
Date: November 18, 2005 Category: Customer Dispute Allegations: CALIFORNIA RESIDENT WRITES THAT PURCHASES OF MICROSOFT IN HER CHILDREN'S UTMA ACCOUNTS WERE NOT AUTHORIZED BY HER. SHE ALSO WRITES THAT INDIVIDUAL STOCK RECOMMENDATIONS MADE BY FA WERE POOR RECOMMENDATIONS. CLIENT IS CLAIMING LOSSES OF $59,470.75. MICROSOFT PURCHASES WERE MADE IN 1998. Damage Amount Requested: $59,470.75 Broker Comment: CLAIM DENIED. STOCK WAS PURCHASED 8 YEARS AGO, AND THE MICROSOFT STOCK PURCHASED IN THE UTMA ACCOUNTS ALL HAD GAINS. STOCK TRADES IN THE HUSBAND'S AND WIFE'S ACCOUNT WERE CONSISTENT WITH THEIR INVESTMENT OBJECTIVES AND REPRESENTED A SMALL PERCENTAGE OF NET WORTH. LOSSES CLAIMED BY CLIENT WERE PAPER LOSSES FROM THE ACCOUNTS' HIGHEST VALUES IN YEAR 2000.
Date: August 20, 1993 Category: Customer Dispute Allegations: CLIENT ALLEGES UNSUITABLE SECURITIESTRANSACTIONS AND TRADING STRATEGIES RESULTED IN LOSSES OF$15,870.17. Damage Amount Requested: $15,870.17 Settlement Amount: $10,000.00 Broker Comment: CLAIM WAS SETTLED FOR $10,000.00.Not Provided
Date: April 17, 1992 Category: Customer Dispute Allegations: ALLEGED FRAUD, INTENTIONAL MISREPRESENTATIONAND BREACH OF CONTRACT WITH RESPECT TO INVESTMENTS IN COMMONSTOCKS MADE THROUGH THEIR CASH DISCOUNT REINVESTMENT PROGRAM.ALLEGED DAMAGES $13,710.00, INTEREST AND PUNITIVE DAMAGES OF$50,000.00. Damage Amount Requested: $13,710.00 Damages Granted: $8,855.00 Broker Comment: THE ARBITRATION PANEL AWARDED THE CLAIMANT$7,700.00 PLUS INTEREST. TOTAL AWARD $8,855.00. PUNITIVEDAMAGES WERE DENIED. MCCUNE CONTRIBUTED $4,427.50 TOWARD THISAWARD.UPDATE TO OCCURRENCE #2.
All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.
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.
BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.
To view the full report for DAVID TOWNSEND MCCUNE, click here.
If you discover any errors or outdated information on this Website, please contact us and we will promptly correct such errors or outdated information.
If BrokerCheck® is the source of such errors or outdated information, please contact FINRA at (301) 590-6500.
Brokersearch.info will not fully remove items from this Website without an applicable court order designating them for removal. Investors rely on the information available on this Website to decide whether to choose or retain a broker or investment adviser.
Upon written request, we may remove certain page(s) from appearing in search engine results using the robots.txt protocol.
When a person searches for your name using Google, Bing, Yahoo! and other search engines the page(s) from Brokersearch.info would not appear in the search results.
Please contact us to learn more about Search Engine Removal.
How to choose a broker or investment adviser. Learn More