Date: September 20, 1999 Category: Customer Dispute Allegations: CLIENT ALLEGED UNAUTHORIZED TRADE. Damage Amount Requested: $19,000.00 Broker Comment: THE CUSTOMER AUTHORIZED PURCHASE TWICE. NOW THAT THE MARKET IS BACK UP - I HAVEN'T HEARD FROM HIM. BOTH AUTHORIZATIONS WERE WITNESSED BY FELLOW WFSI (WELLS FARGO SECURITIES INC.) EMPLOYEE.
Date: July 19, 1999 Category: Customer Dispute Allegations: CLIENT ALLEGED MISREPRESENTATION OF SURRENDER VALUE OF AN ANNUITY DURING THE FREELOOK PERIOD, RESULTING IN AN APPROXIMATE LOSS OF $10,500. Damage Amount Requested: $10,500.00 Settlement Amount: $10,531.00 Broker Comment: I GAVE [CUSTOMER] ERRONEOUS INFORMATION PROVIDED TO ME BY THE CARRIERS (SKANDIA) OPS DEPT. THERE IS NOTHING IN OUR LITERATURE OR CLIENT APPROVED LITERATURE THAT STATES A "FREE LOOK" PERIOD IS SUBJECT TO MARKET FLUCTUATIONS. THIS ERRONEOUS INFORMATION WAS ALSO GIVEN TO [OTHER FIRM EMPLOYEE](ASST). WE BOTH PASSED ON BAD INFO TO [CUSTOMER].
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