Investors might have sustained losses because of securities broker James Alan Seijas [CRD: 2392901, Short Hills, New Jersey], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, James Seijas worked for Wells Fargo Clearing Services LLC from November 13, 2013, to March 6, 2019. Keep reading to learn more about the securities broker’s disclosures.
Particularly, on September 15, 2023, a Wells Fargo Clearing Services LLC client filed FINRA Arbitration No. 23-02472 about James Seijas. Supposedly, Seijas misrepresented investments. Because of this, the client allegedly sustained damages. So, the client requested compensation from Wells Fargo Clearing Services LLC or Seijas. Evidently, this arbitration is pending a resolution.
Also, a client of Wells Fargo Clearing Services LLC contested James Seijas’s sales practices by filing FINRA Arbitration No. 22-00811 on April 22, 2022. Allegedly, Seijas failed to supervise certain representatives and acted negligently, causing the client to sustain damages. As a result, the client seeks damages from Wells Fargo Clearing Services LLC in this ongoing matter.
Additionally, a Wells Fargo Clearing Services LLC client filed FINRA Arbitration No. 20-01587 about James Seijas. Supposedly, Seijas recommended investments in a bad hedge fund in or about January 2019. Therefore, on January 10, 2022, Wells Fargo Clearing Services LLC settled this matter by paying the client $125,000 in damages.
Particularly, on November 2, 2021, FINRA issued Case: 2020066137801. James Seijas was sanctioned by FINRA for refusing to provide testimony as requested in connection with an investigation. The investigation stemmed from an amendment to his Form U5 filed by his previous employer, Wells Fargo Clearing Services LLC, which disclosed for the first time that Seijas had been named as a defendant in a lawsuit alleging misrepresentation of investments as part of a Ponzi scheme.
On September 29, 2021, FINRA requested Seijas to testify as part of their investigation under FINRA Rule 8210. Seijas, through his lawyer, acknowledged the request but refused to appear. By refusing to testify, Seijas violated FINRA Rules 8210 and 2010. As a result, he was permanently barred from associating with any FINRA member, effective November 2, 2021.
Did you experience losses because of James Seijas? If you have, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities lawyer concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for many clients in the US, works on a contingency fee basis, and advances all costs. Seijas and brokerage firms Seijas worked for deny accusations of sales practice violations.
Soreide Law Group has filed a FINRA arbitration on behalf of their client (Claimant) against: WELLS FARGO CLEARING SERVICES, LLC (Respondent). The Claimant, in his mid-70s, is retired and living in Georgia. According to the lawsuit, the Claimant maintained his funds in cash accounts at Wells Fargo Bank and was referred to WELLS FARGO broker, […]
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