RAYMOND DEAN MARTIN is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 520 NEWPORT CENTER DR, STE 1700, NEWPORT BEACH, CA, 92660.
RAYMOND DEAN MARTIN has worked at WELLS FARGO CLEARING SERVICES, LLC since February 11, 2009
RAYMOND DEAN MARTIN has 3 Disclosure Event(s).
Date: March 15, 2017 Category: Customer Dispute Allegations: Client alleged he was not told of a penalty charge he would incur if he failed to meet his commitment to invest a certain amount of money into American Funds. (12/30/2015) Damage Amount Requested: $5,477.07 Settlement Amount: $5,829.43 Broker Comment: Client made an unsolicited move to money market. When repurchasing the fund unsolicited, a sales charge would be applied unless sufficient quantities were purchased to satisfy the NAV breakpoint. Settlement was made due to a business decision, not an admission of wrong doing.
Date: April 30, 2008 Category: Customer Dispute Allegations: CUSTOMERS ALLEGE, INTER ALIA, THAT FINANCIAL ADVISOR REPRESENTED AUCTION RATE SECURITIES TO BE LIQUID INVESTMENTS, AND THAT FINANCIAL ADVISOR MISREPRESENTED THE AUCTION RATE SECURITIES IN QUESTION BY FAILING TO DISCLOSE THAT THEY WERE MORTGAGE RELATED. UNABLE TO CONCLUDE THAT DAMAGES ARE UNDER $5,000. Settlement Amount: $225,000.00 Broker Comment: THIS MATTER INVOLVES THE SALE OF AUCTION RATE SECURITIES (ARS). THE TRANSACTION(S) AT ISSUE TOOK PLACE BEFORE THE EVENTS OF 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 EVENTS. THE FIRM REPURCHASED THE ARS AT ISSUE FOR THEIR FULL PAR VALUE. THE FINANCIAL ADVISOR DID NOT MAKE ANY PAYMENTS TO THE CLIENT, WAS NOT ASKED TO AND DID NOT CONTRIBUTE TO THE REPURCHASE AMOUNT. THE AMOUNT OF THE SETTLEMENT REPORTED ABOVE IS BASED ON FINRA REGULATORY NOTICE 09-12, WHICH PROVIDES THAT THE AMOUNT OF THE SETTLEMENT OF ARS MATTERS SUCH AS THIS ONE MUST BE REPORTED AS THE FULL PAR VALUE OF THE REPURCHASED ARS.
Date: September 02, 2002 Category: Customer Dispute Allegations: CLIENT ALLEGES BREACH OF FIDUCIARY DUTY AND NEGLIGENCE. DAMAGES NOT SPECIFIED, BUT BELIEVE TO EXCEED $10,000.00 Settlement Amount: $16,000.00 Broker Comment: BECAUSE OF THE UNCERTAINTY OF LITIGATION AND BUSINESS REASON, MORGAN STANLEY SETTLED WITH THE CLAIMANT. HOWEVER, THE FIRM DOES NOT ADMIT ANY LIABILITY REGARDING THE CLAIM. IN ADDITION, CLAIMANT DISMISSED THE CASE AGAINST RAYMOND MARTIN AND THE SETTLEMENT WAS WITH MORGAN STANLEY.
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