MATTHEW WAYNE HUNTER

MATTHEW WAYNE HUNTER is currently employed as a Broker and/or Investment Adviser at FEF DISTRIBUTORS, LLC located at 1345 AVENUE OF THE AMERICAS, NEW YORK, NY, 10105-4800.

MATTHEW WAYNE HUNTER has worked at FEF DISTRIBUTORS, LLC since May 08, 2018

Disclosure History

MATTHEW WAYNE HUNTER has 1 Disclosure Event(s).

Date: March 22, 2010
Category: Customer Dispute
Allegations: CLIENT ALLEGES THE REP MISREPRESENTED THE ABILITY TO ACAT SECURITIES HELD IN A FIDELITY ACCOUNT TO AN ING ACCOUNT.CLIENT FURTHER STATES THE REP ADVISED HIM TO NOT LIQUIDATE THE SECURITIES HELD IN THE FIDELITY ACCOUNT SINCE THE TRANSACTION WOULD BE PROCESSED BY AN ACAT. IN 12/09 CLIENT WAS INFORMED THE SECURITIES COULD NOT BE TRANSFERRED BY ACAT. BASED ON THESE ALLEGATIONS CLIENT ALLEGES LOSS IN THE AMOUNT OF $64,225.81.
Damage Amount Requested: $64,225.81
Broker Comment: I FOLLOWED FIRM PROCEDURE IN COMMUNICATING THE PROCESS OF THE 401 (K) PLAN ASSETS CONVERSION TO THE PLAN SPONSOR AND THIS PARTICIPANT. NORMAL INDUSTRY PRACTICE IN CONVERTING 401 (K) PLAN ASSETS FROM THE FORMER BROKERAGE ACCOUNT TO A NEW BROKERAGE ACCOUNT IS COMPLETED VIA ACAT TRANSFER. MY UNDERSTANDING IS THAT THE 401 (K) PLAN PROVIDER, PAYCHEX INC., COMMUNICTAED TO THIS CLIENT LATE IN THE CONVERSION PROCESS THAT THIS EMPLOYEE WOULD HAVE TO LIQUIDATE HIS ACCOUNT IN ORDER TO FACILITATE THE TRANSFER OF THE PLAN ASSETS TO ING. I NEVER, AT ANY TIME, INSTRUCTED THIS PARTICIPANT TO BUY, SELL, OR LIQUIDATE ANY SECURITIES IN HIS ACCOUNT.

More Information

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