JEAN FAN-NING is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 301 W NORTHERN LIGHTS BLVD 5TH FL, STE 501, [WA-RBO], ANCHORAGE, AK, 99503.
JEAN FAN-NING has worked at WELLS FARGO CLEARING SERVICES, LLC since January 03, 2011
Disclosure History
JEAN FAN-NING has 2 Disclosure Event(s).
Date: July 22, 2008 Category: Customer Dispute Allegations: THE COMPLAINT AROSE OUT OF THE SALE OF AN AUCTION RATE SECURITY (ARS) THAT WAS MADE PRIOR TO THE WIDESPREAD ILLIQUIDITY IN THE ARS MARKET THAT OCCURRED IN FEBRUARY 2008. ACTIVITY DATE(S): 1/22/2008-1/25/2008 Settlement Amount: $350,000.00 Broker Comment: THE FIRM REPURCHASED THE ARS SECURITIES AT ISSUE FROM THE CLIENT PURSUANT TO A GLOBAL REPURCHASE AGREEMENT IT ENTERED WITH SEVERAL REGULATORY BODIES. THIS WAS NOT A TRADITIONAL SETTLEMENT OF A DISPUTE BETWEEN THE CLIENT AND THE REPRESENTATIVE. THE NAMED REPRESENTATIVE: WAS NOT A PARTY TO, AND DID NOT AGREE TO OR PARTICIPATE IN, THE REPURCHASE AGREEMENT BETWEEN THE FIRM AND REGULATORS; THE NAMED REPRESENTATIVE DID NOT MAKE ANY PAYMENTS TO THE CLIENT; AND THE NAMED REPRESENTATIVE WAS NOT ASKED TO AND DID NOT CONTRIBUTE TO THE REPURCHASE AMOUNT. THIS MATTER IS BEING REPORTED AS A SETTLEMENT PURSUANT TO THE REQUIREMENTS OF FINRA REGULATORY NOTICE 09-12.
Date: February 05, 2008 Category: Customer Dispute Allegations: SUITABILITY OF INVESTMENTS AND TRADING PRACTICES IN CUSTOMER'S ACCOUNT WERE NOT APPROPRIATE FOR HIS AGE. Damage Amount Requested: $8,487.00 Broker Comment: THE CLIENT PASSED AWAY DUE TO HEART ATTACH JULY 2007 AND THE CLIENT'S NEPHEW AND BENEFICIARY, FILED THE COMPLAINT. I MEET WITH OR SPOKE TO THE CLIENT SEVERAL TIMES BETWEEN FEBRUARY AND JULY 2007. AT OUR INITIAL MEETING, WE DISCUSSED HIS NEEDS REGARDING A VARIABLE ANNUITY AND SEVERAL CD'S THAT WERE MATURING. DURING THIS MEETING, I ALSO OBTAINED HIS INVESTOR PROFILE AND RISK TOLERANCE. BASED UPON THE INFORMATION I OBTAINED, I OUTLINED AN INVESTMENT PLAN. AT THIS MEETING, THE CLIENT ALSO MENTIONED HIS NEPHEW AND THAT HE WOULD LIKELY DISCUSS THIS PLAN WITH HIM. I OFFERED TO ANSWER ANY QUESTIONS THE NEPHEW MAY HAVE; THE NEPHEW NEVER CALLED WITH QUESTIONS OR CONCERNS. THE CLIENT TOOK THIS INFORMATION HOME WITH HIM TO REVIEW AND WE MET TWO WEEKS LATER TO OPEN THE INVESTMENT ACCOUNT AND IMPLEMENT THE INVESTMENT PLAN. THE CLIENT ALSO INDICATED THAT HE WAS INTERESTED IN INVESTING MONEY FROM THE MATURING CD'S AND ASKED IF I COULD FOLLOW-UP WHEN THEY MATURED. IT WAS AT THIS SECOND MEETING THAT I LEARNED THE NEPHEW WAS ALSO A BENEFICIARY. I FOLLOWED-UP WITH THE CLIENT IN JULY AND INDICATED THAT TWO OF HIS CD'S HAD MATURED. THE CLIENT INDICATED THAT HE WOULD LIKE TO INVEST THE MONIES FROM THESE CD'S INTO THE MUTUAL FUNDS BOUGHT IN FEBRUARY. AT THAT TIME, WE SET-UP AN APPOINTMENT AT HIS HOME AS THE CLIENT WAS NOT FEELING WELL. AT THE END OF THE MEETING, WE ARRANGED FOR A FOLLOW-UP FOR THE LAST WEEK IN JULY. IT WAS DURING THIS FOLLOW-UP THAT WE LEARNED THE CLIENT HAD PASSED AWAY. FOLLOWING PROCEDURE, THE CLIENT'S ACCOUNT WAS FROZEN. THE CLIENT'S NEPHEW PHONED A COUPLE OF DAYS LATER TO DISCUSS THE CLIENT'S INVESTMENTS AND ACCOUNTS. THE INVESTMENTS WERE IN-LINE WITH CLIENT'S STATED GOALS AND OBJECTIVES BASED UPON THE INFORMATION HE PROVIDED TO ME.
More Information
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