MARK CLINTON HERRING is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 1330 LAKE ROBBINS DR STE 200, THE WOODLANDS, TX, 77380.
MARK CLINTON HERRING has worked at WELLS FARGO CLEARING SERVICES, LLC since October 30, 2009
Disclosure History
MARK CLINTON HERRING has 2 Disclosure Event(s).
Date: August 16, 2010 Category: Customer Dispute Allegations: TIME FRAME: SEPTEMBER 4,2009 THE CLIENT ALLEGES THEIR FINANCIAL ADVISOR FAILED TO DISCLOSE TO THEM OF THE PURCHASE LIMITATION IMPOSED BY THE IRS PROHIBITING THE PURCHASE OF NON-US GOLD COINS IN AN IRA ACCOUNT. THE ALLEGED DAMAGES ARE ESTIMATED TO BE IN EXCESS OF $5,000.00 Damage Amount Requested: $5,000.00 Settlement Amount: $4,396.64 Broker Comment: IN SEPTEMBER, 2009 MR. MCLAIN CALLED IN AND INQUIRED, ON AN UNSOLICITED BASIS, ABOUT PURCHASING COLD COINS IN HIS SEP IRA. I CONTACTED THE UBS COMMODITY TRADING DEPARTMENT AND ASKED THEM ABOUT THE PROCESS, FEES & TYPES OF COINS AVAIABLE FOR PURCHASE IN A SEP IRA. THEY INSTRUCTED ME AS TO WHAT THE PROCEDURES WERE AND THEN INFORMED ME THAT THERE WERE 3 TYPES OF GOLD COINS: CANADIAN MAPLE LEAF, AMERICAN EAGLE AND KRUGGERANDS ALONG WITH THE COMMISSION SCHEDULES.I RELAYED THE INFORMATION AND OPTIONS BACK TO MR. MCLAIN. MR. MCLAIN DECIDED, WITHOUT SOLICITATION, TO PURCHASE THE KRUGGERANDS. AFTER PROVIDING THE PROCESS, PROCEDURE & INVESTMENT OPTIONS, UBS ALLOWED AND EXECUTED THE TRADE WITHOUT ANY WARNING, ALERT OR NOTIFICATION THAT THIS TRANSACTION WAS CONTRARY TO ANY IRS RULES OR REGULATIONS.
Date: July 06, 1998 Category: Customer Dispute Allegations: THE CUSTOMER INVESTED $7,878.00 IN A STOCKRECOMMENDED BY MR. HERRING. CUSTOMER CLAIMS THAT THE STOCK ISNOW WORTHLESS AND THE COMPANY IS BANKRUPT. Damage Amount Requested: $7,878.00 Broker Comment: NOT PROVIDEDNOT PROVIDED
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