FRANCIS RICHARD COURTNEY is currently employed as a Broker and/or Investment Adviser at RBC CAPITAL MARKETS, LLC located at SIX TOWER BRIDGE, 181 WASHINGTON STREET, SUITE 500, CONSHOHOCKEN, PA, 19428-2000.
FRANCIS RICHARD COURTNEY has worked at RBC CAPITAL MARKETS, LLC since January 20, 2004
FRANCIS RICHARD COURTNEY has 2 Disclosure Event(s).
Date: June 01, 2004 Category: Customer Dispute Allegations: CHAIRMAN OF PA-BASED UNION PENSION PLANS CLAIMS THAT HIS ADVISOR, WHO SERVED FROM NOVEMBER 1997 TO MARCH 2003, FAILED TO FULLY EXECUTE INSTRUCTIONS ISSUED BY THE PLANS' TRUSTEES, RESULTING IN DAMAGES OF $13,540,284.78. Damage Amount Requested: $13,540,280.00 Broker Comment: CLAIM DENIED
Date: September 22, 2003 Category: Customer Dispute Allegations: MARYLAND TRADE ASSOCIATION WRITES THAT THEY WIRED MONEY TO FIRM ON 2/14 TO BE INVESTED IN MUTUAL FUND AND MONEY WAS NOT INVESTED, BUT INSTEAD STAYED IN MONEY MARKET FUND. HAD MONEY BEEN INVESTED IT WOULD HAVE EARNED AN ADDITIONAL $368,669.76. Damage Amount Requested: $368,669.80 Settlement Amount: $200,000.00 Broker Comment: ADVISED CLIENT THAT WE WILL BE UNABLE TO ACCEDE TO THEIR REQUEST FOR COMPENSATION. THEIR ORIGINAL INSTRUCTIONS WERE NOT CLEAR; PLUS THEY RECEIVED MONTHLY STATEMENTS THAT SHOWED THE MONIES WERE IN MONEY MARKET FUND, NOT INVESTED, AND THEY DID NOT NOTIFY US. DENIED CLAIM.COURTNEY'S RESPONSE:DO NOT AGREE WITH SETTLEMENT BY WACHOVIA OF THIS ISSUE. NEVER AT ANYTIME WERE INSTRUCTIONS OR DIRECTIONS AS TO THE DISPOSITION OF WIRED FUNDS COMMUNICATED TO COURTNEY IN ANY MEDIUM(FAX, TELEPHONE, LETTER). ATTEMPSTS TO BE INFORMED OF CLIENT'S DESIRES FOR THESE FUNDS WERE NEVER RETURNED.DID NOT RECEIVE VALID ORDER FOR FUNDS UNTIL JULY OF 2003, THEREFORE, NEVER WOULD HAVE AGREED TO SETTLEMENT. IF AS A BROKER, I DID NOT RECEIVE INSTRUCTIONS I COULD NOT PLACE AN ORDER. THIS IS A LARGE RELATIONSHIP FOR WACHOVIA AND THEY MADE A BUSINESS DECISION NOT RELATED TO ANY OF MY ACTIONS.
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