DAVID ROGER RABINAW is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 1937 COMMERCE STREET, YORKTOWN HEIGHTS, NY, 10598.
DAVID ROGER RABINAW has worked at WELLS FARGO CLEARING SERVICES, LLC since October 01, 2000
DAVID ROGER RABINAW has 2 Disclosure Event(s).
Date: April 26, 2004 Category: Customer Dispute Allegations: NEW YORK RESIDENT CLAIMED THAT THE FA DID NOT MAKE HIM FULLY AWARE THAT HE WAS PURCHASING A MUTUAL FUND, WHEN HE INVESTED $100,000 IN THE CLASS B SHARES OF THE OPPENHEIMER LIMITED TERM MUNI FUND FOR HIS JOINT ACCOUNT ON MARCH 15, 2004. THE CLIENT FURTHER CLAIMED THAT HIS OBJECTIVE WAS TO HAVE ACCESS TO HIS MONIES IF NEEDED. THE CLIENT ALSO CLAIMED THAT THE FA DID NOT FULLY DISCLOSE HIS RELATIONSHIP WITH WACHOVIA BANK. THE CLIENT DEMANDED TO HAVE THE TRADE RESCINDED AT NO COST TO HIM. DAMAGES ARE BELIEVED TO BE APPROXIMATELY $6,251. Damage Amount Requested: $6,251.00 Settlement Amount: $8,634.50 Broker Comment: SETTLED SOLELY IN THE INTEREST OF CLIENT RELATIONS, WITHOUT ADMITTING ANY LIABILITY ON BEHALF OF THE FIRM OR THE FA, IN THE AMOUNT OF $8,634.50. THE FA WAS NOT ASKED TO CONTRIBUTE TO THE SETTLEMENT. THE FA VIGOROUSLY DENIED THE ALLEGATIONS RAISED IN THE COMPLAINT. THE FA FULLY DISCLOSED HIS RELATIONSHIP WITH WACHOVIA SECURITIES TO THE CLIENT AND, FURTHER, HE MET WITH THE CLIENT ON AT LEAST THREE SEPARATE OCCASIONS TO DISCUSS THE MUTUAL FUND THAT THE CLIENT EVENTUALLY PURCHASED FOR HIS JOINT ACCOUNT.
Date: April 08, 1998 Category: Customer Dispute Allegations: THE CLIENT ALLEGED THE PURCHASE OF DREYFUS PREMIER WORLDWIDE GROWTH FUND WAS UNSUITABLE. Damage Amount Requested: $7,000.00 Broker Comment: IT IS MY VERY STRONG OPINION THAT I ACTED IN THEBEST INTEREST OF MY CLIENT. I PREVENTED MY CLIENT FROMCONCENTRATING ALOT OF HER MONEY IN A LOW PRICED STOCK ANDPROVIDED FULL DISCLOSURE OF CAPITAL GAINS. THE COMPLAINT WAS ORIGINALLY RECEIVED IN 1998 AND PRUDENTIAL DENIED THE CLAIM. IN 10/1999 ANOTHER COMPLAINT LETTER WAS RECEIVED REGARDING THE SAME (FALSE) OCCURENCE. ***THIS MATTER ARISES OUT OF TRANSACTIONS UNDERTAKEN AT A PRIOR OR PREVIOUS FIRM. WELLS FARGO ADVISORS HAS NO RECORDS OR INFORMATION RELATING TO THE ISSUES REPRESENTED IN THIS REPORT. THE MATTER IS CONSIDERED CLOSED.
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