ERIC ROTHBERG is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 1 PENN PLZ FL 27, NEW YORK, NY, 10119.
ERIC ROTHBERG has worked at WELLS FARGO CLEARING SERVICES, LLC since February 25, 2011
Disclosure History
ERIC ROTHBERG has 2 Disclosure Event(s).
Date: August 11, 2015 Category: Customer Dispute Allegations: Executor of Estate of [executor] alleges excessive trading for the time period of March 2011 through February 2015. Damage Amount Requested: $125,000.00 Broker Comment: Claim denied. Independent analysis confirmed account was not excessively traded nor charged excessive fees or commissions. Branch notes confirmed client discussed all trades with FA and client was aware of all commissions.
Date: June 08, 2006 Category: Customer Dispute Allegations: NEW YORK CLIENT, A JOINT TENANT ON AN ACCOUNT WITH HER FATHER, CLAIMED THAT THE FA "CHURNED THE SALE" OF THREE MUNICIPAL BONDS IN THEIR ACCOUNT IN APRIL 2004 WITHOUT INFORMING EITHER HER OR HER FATHER THAT THE SALE OF THE BONDS COULD RESULT IN A PENALTY. ON APRIL 16, 2004 THE FOLLOWING BONDS WERE SOLD IN THE ACCOUNT: 1) 10,000 METRO TRANSIT AUTHORITY NY COMMUTER FACILITY REVENUE SERIES A CPN 6.0% DUE 07/21/2021 FOR NET PROCEEDS OF $10,917.33 - THERE WAS A REALIZED GAIN OF $63.93 ON THE SALE; 2) 10,000 NYS DORM AUTHORITY REVS RFDG LONG BEACH MED CTR MBIA REG, CPN 5.250% DUE 08/01/2009 FOR NET PROCEEDS OF $10,460.67 -- THERE WAS A REALIZED GAIN OF $57.50 ON THE SALE. ON APRIL 21, 2004 THE FOLLOWING UIT WAS REDEEMED IN THE ACCOUNT: 152 UNITS OF THE NUVEEN TAX EXEMPT UNIT COMB SERIES 809INSURED NY 237 TRUST FOR NET PROCEEDS OF $13,909.52 -- THERE WAS A REALIZED LOSS ON THE REDEMPTION OF $1,153.68. THE CLIENT FURTHER CLAIMED THAT ON JUNE 6, 2006 SHE RECEIVED A NOTICE FROM THE IRS THAT SHE OWED AN ADDITIONAL $9,014 ON HER 2004 TAXES AS THE RESULT OF THE ACTIVITY IN QUESTION. THE CLIENT ALSO CLAIMED THAT THE FA NEVER NOTIFIED HER OF THE SALES TRANSACTIONS NOR DID SHE RECEIVE ANY WRITTEN INFORMATION ON THE ACCOUNT, ETC.; IT SHOULD BE NOTED THAT THE ADDRESS OF RECORD FOR THE ACCOUNT WAS HER FATHER'S ADDRESS. THE CLIENT REQUESTED AN INVESTIGATION INTO THE SALE OF THE SECURITIES. Damage Amount Requested: $9,014.00 Broker Comment: THE FIRM DENIED THE COMPLAINT ON JUNE 21, 2006. BASED ON A REVIEW OF THE ACCOUNT AND THE TRANSACTIONS IN ISSUE, NO IMPROPRITIES WERE DETECTED WITH RESPECT TO THE HANDLING OF THE ACCOUNT OR THE TRANSACTIONS IN ISSUE BY EITHER THE FA OR THE FIRM. THERE WAS NO EVIDENCE TO SUPPORT THE ALLEGATION THAT THE FA "CHURNED THE SALE " OF THREE MUNICIPAL BONDS. INSTRUCTIONS FOR THE ACCOUNT AND TRANSACTIONS THEREIN WERE GIVEN BY ONE JOINT TENANT ON THE ACCOUNT AND THE FIRM WAS UNDER NO DUTY TO CONFIRM THOSE INSTRUCTIONS WITH THE OTHER JOINT TENANT. NEITHER THE FIRM NOR THE FA APPEARED TO BE RESPONSIBLE FOR ANY TAX LIABILITIES THAT WERE INCURRED BY THE CLIENTS RESULTING FROM THE TRANSACTIONS IN ISSUE.
More Information
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BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.
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