FRED ARTHUR SCHEEREN is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 2001 MAIN ST, STE 700, WHEELING, WV, 26003.
FRED ARTHUR SCHEEREN has worked at WELLS FARGO CLEARING SERVICES, LLC since January 06, 2006
Disclosure History
FRED ARTHUR SCHEEREN has 1 Disclosure Event(s).
Date: February 28, 1995 Category: Customer Dispute Allegations: BETWEEN 1992 AND 1994, THE PLAN PURCHASED SEVERAL CMOS. THE EXPECTED LIFE OF THE CMOS HAS BEEN EXTENDED FROM PPROXIMATELY 2-3 YEARS TO 16-17 YEARS. THE PLAN DOES NOTALLEGE THAT IT HAS LOST ANY MONEY, BUT COMPLAINS THAT ITS FUNDS ARE NOT ABLE TO BE USED TO PURCHASE OTHER INVESTMENTS WITH A CHIGHER YIELS. Settlement Amount: $18,558.55 Broker Comment: LEGG MASON AND MR. SCHEEREN VEHEMENTLY DENY THEPLAN'S FRIVOLOUS ALLEGATIONS. ALL MATERIAL FACTS REGARDING THE CMOS WERE DISCLOSED TO THE PLAN PRIOR TO THE TIME THE CMOS WERE PURCHASED. IN ADDITION, ON SEVERAL OCCASIONS, LEGG MASON AND MR. SCHEEREN PROVIDED INFORMATION TO THE PLAN THAT DISCLOSED THAT THE EXPECTED LIFE OF THE CMOS WAS SUBJECT TO CHANGE DEPENDING ON INTEREST RATE MOVEMENTS.
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