MICHAEL JOSEPH KAZMER

MICHAEL JOSEPH KAZMER is currently employed as a Broker and/or Investment Adviser at WELLS FARGO ADVISORS FINANCIAL NETWORK, LLC located at 2535 TOWNSGATE RD, STE 306, WESTLAKE VILLAGE, CA, 91361.

MICHAEL JOSEPH KAZMER has worked at WELLS FARGO ADVISORS FINANCIAL NETWORK, LLC since November 02, 2012

Disclosure History

MICHAEL JOSEPH KAZMER has 3 Disclosure Event(s).

Date: March 01, 2010
Category: Customer Dispute
Allegations: THE CUSTOMER ALLEGES MISREPRESENTATION AND UNSUITABLE INVESTMENT RECOMMENDATIONS FROM 2007-2009.
Damage Amount Requested: $475,000.00
Settlement Amount: $30,000.00
Broker Comment: THIS MATTER WAS SETTLED IN ORDER TO AVOID THE COST OF LITIGATION.

Date: June 09, 2009
Category: Customer Dispute
Allegations: SUITABILITY
Settlement Amount: $300,000.00
Broker Comment: THIS MATTER INVOLVES THE SALE OF AUCTION RATE SECURITIES (ARS). THE TRANSACTION(S) AT ISSUE TOOK PLACE BEFORE MID-FEBRUARY 2008, WHEN THE ARS MARKET SUFFERED WIDESPREAD AUCTION FAILURES AND ILLIQUIDITY. THE FINANCIAL ADVISOR DID NOT CAUSE, CONTRIBUTE OR HAVE ANY CONTROL WHATSOEVER OVER THESE MARKET EVENTS. THE FIRM REACHED AGREEMENT WITH CERTAIN OF ITS REGULATORS, PURSUANT TO WHICH IT REPURCHASED ARS FOR THEIR FULL PAR VALUE FROM CERTAIN CLIENTS, INCLUDING THE INSTANT CLIENT, WHERE THEY COMPLAINED OR NOT. THE FINANCIAL ADVISOR WAS NOT A PARTY TO THAT AGREEMENT, DID NOT MAKE ANY PAYMENT TO THE CLIENT, AND WAS NOT ASKED TO AND DID NOT CONTRIBUTE TO THE REPURCHASE AMOUNT. THE SETTLEMENT AMOUNT IN ITEM 11 ABOVE REFLECTS THE PAR VALUE OF THE REPURCHASED ARS, AS REQUIRED BY FINRA REGULATORY NOTICE 09-12.

Date: March 21, 2003
Category: Customer Dispute
Allegations: CLIENT ALLEGES THAT WHEN HE OPENED HIS ACCOUNT IN 8/93, HE WAS TOLD THERE WOULD BE NO CHARGES, FEES OR COMMISSIONS FOR REINVESTING PROCEEDS FROM MATURING TREASURY BILLS INTO NEW TREASURY BILLS. FURTHERMORE, CLIENT CLAIMS HE WAS CHARGED COMMISSIONS FOR PURCHASES IN THE SECONDARY MARKET INSTEAD OF AT AUCTION FOR $75. CLIENT HAS NOT SPECIFIED AN EXACT AMOUNT OF ALLEGED DAMAGES.

More Information

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

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