PATRICIA ELLEN DONELAN is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 331 NEWMAN SPRINGS RD BLDG 2, 3RD FLOOR, RED BANK, NJ, 07701.
PATRICIA ELLEN DONELAN has worked at WELLS FARGO CLEARING SERVICES, LLC since February 13, 2009
PATRICIA ELLEN DONELAN has 1 Disclosure Event(s).
Date: November 12, 2009 Category: Customer Dispute Allegations: TIME FRAME: APRIL 7, 2003- NOVEMBER 12, 2009 CLIENT ALLEGES HIS FINANCIAL ADVISOR MISREPRESENTED AUCTION RATE SECURITIES STATING THEY WOULD PROVIDE A SAFE AND HIGHLY LIQUID INVESTMENT. CLIENT FURTHER ALLEGES THAT HIS FINANCIAL ADVISOR REPRESENTED AUCTION RATE SECURITIES AS CASH ALTERNATIVES, DESCRIBING THEM AS A HIGHLY LIQUID, SAFE SHORT TERM INVESTMENT THAT HE COULD GET OUT OF ANY TIME. THE ALLEGED DAMAGES ARE ESTIMATED TO BE IN EXCESS OF $5,000. Damage Amount Requested: $5,000.00 Settlement Amount: $25,000.00 Broker Comment: CLIENT PURCHASED POSITION ON 3/28/03-NOT AS A MONEY MARKET SUBSTITUTE BUT AS AN INVESTMENT WITH WEEKLY REDEMPTION IF ORDER WAS ENTERED IN TIME FOR AUCTION. CLIENT ORIGINALLY WAS PART OF A JOINT ACCOUNT AND WHEN THE ACCOUNT WAS DIVIDED HE DECIDED TO TRANSFER HIS ACCOUNT IN 2007. ON FEBRUARY 28, 2008 I WAS ABLE TO AUCTION SAME POSITION FOR CLIENTS WHO STILL OWNED THEM AT THE TIME THAT THE AUCTION MARKET WAS DETERIORATING. SINCE I NO LONGER HAD CLIENT'S ACCOUNT, I HAD NO KNOWLEDGE THAT HE STILL OWNED THE POSITION. CLIENT IS A BOND TRADER
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 PATRICIA ELLEN DONELAN, click here.
If you discover any errors or outdated information on this Website, please contact us and we will promptly correct such errors or outdated information.
If BrokerCheck® is the source of such errors or outdated information, please contact FINRA at (301) 590-6500.
Brokersearch.info will not fully remove items from this Website without an applicable court order designating them for removal. Investors rely on the information available on this Website to decide whether to choose or retain a broker or investment adviser.
Upon written request, we may remove certain page(s) from appearing in search engine results using the robots.txt protocol.
When a person searches for your name using Google, Bing, Yahoo! and other search engines the page(s) from Brokersearch.info would not appear in the search results.
Please contact us to learn more about Search Engine Removal.
How to choose a broker or investment adviser. Learn More