Did you lose money with Sven Karlen, a former registered representative with Wells Fargo in Lebanon, New Hampshire? The Financial Industry Regulatory Authority (FINRA) alleged that Karlen exercised discretionary power in 21 customer accounts without prior written authorization. He allegedly effected discretionary trading (selling or purchasing securities without the client’s prior permission) between 2008 and 2015. This is against securities rules and regulations. For these transgressions, Karlen agreed to pay a $15,000 fine and agreed to be suspended from the industry for six months. Brokerage firms such as Wells Fargo have a responsibility to adequately supervise all representatives who are registered through their firm. If the firm does not, it can be liable for money losses. Please call our securities law firm in Chicago, Illinois today to find out how you can recover your losses by bringing an arbitration claim against Wells Fargo in the FINRA forum. 312-332-4200. The call is free with no obligation. We may be able to take your case on a contingency fee basis.
Karlen was registered with Autranet in Jersey City, New Jersey from June 1990 until November 1990, A.G. Edwards & Sons in Lebanon, New Hampshire from March 1999 until January 2008 and Wells Fargo in Lebanon from January 2008 until February 2015. He is not currently registered with any firm, and is not licensed within the industry, according to his online FINRA BrokerCheck report.
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