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Our law firm is investigating Wells Fargo Advisors (“WFA”) in connection with the supervision of Michael J. Frew (“Frew”). On May 28, 2014, Frew entered into a Letter of Acceptance, Waiver and Consent (“AWC”) in connection with allegations of accepting loans from customers and converting customer funds. In the AWC, Frew consented to a bar from associating with any FINRA member in any capacity.
According to the AWC, “in February 2014, FINRA began investigating whether Frew had accepted loans from customers or converted customer funds. As part ofthat investigation, FINRA served a Rule 8210 request dated February 26, 2014 (the “February Request”), seeking information and documents from Frew. Frew provided a partial but substantially incomplete and misleading response dated March 11, 2014. On March 13, 2014, FINRA sent a Second Notice to Frew pursuant to FINRA Rule 8210 reminding Frew of his obligation to provide a complete and truthful response to the February Request. Frew did not respond to the Second Notice.”
The AWC further stated, “on May 14, 2014, FINRA’s Department of Enforcement sent a Third Notice to Frew pursuant to FINRA Rule 8210 again reminding Frew of his obligation to provide a complete and truthful response to the February Request. Also on May 14, 2014, Enforcement served a Rule 8210 request that Frew appear on June 3, 2014, to provide testimony. On May 20, 2014, Frew informed Enforcement staff that he would not provide any additional response to the February Request, and would not appear for testimony on June 3, 2014, or at any other time. Frew’ s failure to cooperate by providing the requested information and testimony significantly impeded FINRA’s investigation into whether Frew did accept funds from customers and convert those funds for personal use.”
If you invested with Michael J. Frew, formerly of Wells Fargo Advisors, please contact our law firm, toll free, at 888-997-9956.