SEAN NEZAR ALI is currently employed as a Broker and/or Investment Adviser at WELLS FARGO ADVISORS FINANCIAL NETWORK, LLC located at 300 MONTGOMERY ST, STE 800, SAN FRANCISCO, CA, 94104.
SEAN NEZAR ALI has worked at WELLS FARGO ADVISORS FINANCIAL NETWORK, LLC since December 20, 2013
Disclosure History
SEAN NEZAR ALI has 2 Disclosure Event(s).
Date: December 02, 2013 Category: Employment Separation After Allegations Firm Name: MORGAN STANLEY SMITH BARNEY, LLC Termination Type: Discharged Allegations: CONCERNS RELATED TO FINANCIAL ADVISOR'S ACTIONS REGARDING MARKING A SOLICITED CLIENT TRADE AS UNSOLICITED. Broker Comment: I PURCHASED 25M SPRINT CAPITAL BONDS BY MISTAKE VERSUS SPRINT NEXTEL BONDS OUT OF MORGAN STANLEYS INVENTORY OF BONDS .THE SPRINT CAPITAL BONDS WERE NOT BLUE SKYED IN CALIFORNIA,THE SPRINT NEXTEL BONDS WERE BLUE SKYED.WHEN I RECEIVED AN EMAIL FROM COMPLIANCE THE NEXT DAY ASKING TO SEND AN UNSOLICITED LETTER TO THE CLIENT TO SIGN,I QUICKLY RESPONDED WITH SURPRISE THAT I HAD MADE A MISTAKE AND IMMEDIATELY NOTIFIED THE BRANCH MANAGER AND COMPLIANCE OFFICER THAT I MUST HAVE INADVERTENTLY MARKED THE TICKET UNSOLICITED WHEN THE TRADE WAS SOLICITED.OPERATIONS BUSTED THE TRADE AND I CONTACTED THE CLIENT IMMEDIATELY TO LET HIM KNOW WE HAD TO BUST THE TRADE.THERE WAS NO CLIENT COMPLAINT AND NO LOSS OF MONEY TO THE FIRM (THAT I'M AWARE OF) AND NO LOSS OF MONEY TO THE CLIENT AND THE CLIENT HAD NO PROBLEM BUSTING THE TRADE.
Date: March 18, 2008 Category: Customer Dispute Allegations: CUSTOMER ALLEGES THAT FINANCIAL ADVISOR REPRESENTED AUCTION RATE SECURITIES TO BE LIQUID INVESTMENT. UNABLE TO CONCLUDE THAT DAMAGES ARE UNDER $5,000. 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, WHETHER THEY COMPLAINED OR NOT. THE FINANCIAL ADVISOR WAS NOT A PARTY TO THAT AGREEMENT, DID NOT MAKE ANY PAYMENTS 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.
More Information
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 SEAN NEZAR ALI, click here.
The use of BrokerCheck data is subject to the BrokerCheck Terms of Use.
×
Outdated Information
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 Removal
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.