FRED ARTHUR SCHEEREN

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.

More Information

All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.

A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.

BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.

To view the full report for FRED ARTHUR SCHEEREN, click here.

The use of BrokerCheck data is subject to the BrokerCheck Terms of Use.