TRADER LOSES $120,000 but TD Ameritrade refuses to honor their policy of making customers whole ….


I removed Jeff’s last name because during my arbitration with him, he complained that business associates ask him questions about it and that he was worried that if he lost his job, it would affect his chances of getting another job…

Check this out first of all

My Name is Uzo.

Help !  If you know any of the Executives at TD Ameritrade or Anyone at Dow Jones/WSJ Or Anyone at the SEC or Any Reporters that can help please forward this page to them or tell them about it .  Jeff P has refused to assign the case to a superior and he has refused to honor TD Ameritrades policy, I would like someone else to handle the case . I am practically going bankrupt because Jeff P TD Ameritrade Compliance manager has deliberately refused to honor TD Ameritrades policy .

I was a customer of TD Ameritrade for over 10 years but last year due to some Streaming quote issues with TD Ameritrades Platform I practically got wiped out . I lost $120,000 and I contacted TD Ameritrade compliance department about their policy that was discussed with Brett Philbin of Dow Jones in this  Wall Street Journal Article .  In the article TD Ameritrade’s VP/COO/Head of Technology Dave Kelley talked about the technology problems and how TD Ameritrade would take some responsibility for the tech issues . He said it was TD Ameritrades policy to make clients whole on days when they experienced outages but Jeff P has refused to apply this policy to me and it has been about 9 months since I have been asking him about this policy . When I asked him why after 4 months my quotes were still wrong everyday he terminated my account .

I don’t see how ONE Employee – Jeff P can single handedly decide to disregard TD Ameritrades policy and violate their code of ethics and then bankrupt a client despite all the evidence I have provided . He should not be working in any compliance department of any financial institution because he is abusing his powers . I wrote him a letter  after talking with  Analyst  – Tommie Richardson who told me that even though they were aware of the Streaming Quote issues TD Ameritrade doesn’t compensate anybody for losses . I asked her why they did not notify their clients about the problem since they were aware of the potential for loses and she said they were not required to notify anyone because they don’t guarantee their software just like their client agreement says . I told her about the company policy that Dave Kelley (the COO at the time) talked about and she said she had never heard of it even though it was on the Wall street Journal for everyone  see .

I spoke with Jeff P and he told me he would put his best analyst on the case . After 2 weeks he wrote me saying that even though the Lagging Quotes Issue was a known issue they would not reimburse me any money . I have been asking him to honor TD Ameritrades policy for several months now but he has refused . I don’t know why I can’t enjoy the benefit that other clients enjoy .

What he is saying which is contradicting TD Ameritrades policy as well as Fed Securities Laws . Jeff P and Tommie Richardson are saying that they are knowingly supplying false quotes and that even though TD Ameritrade knows about it they don’t need to tell their clients . So when people trade with these false quotes and lose money they just say that they are not obligated to tell the clients because the clients signed a client agreement . This makes no sense at all otherwise why would anyone trade with TD Ameritrade if as soon as you open an account they can just supply bad quotes . It makes sense what the COO said in the WSJ article and Jeff P has refused to assign the case to anyone else . He has just blatantly denied me any opportunity to benefit from the company’s policy .

Finra Rule –It shall be deemed inconsistent with Rules 2010, 2020 and 5210 for a member, for itself or for any other person, to publish or circulate or to cause to be published or circulated, by any means whatsoever, any quotation for any security without having reasonable cause to believe that such quotation is a bona fide quotation, is not fictitious and is not published or circulated or caused to be published or circulated for any fraudulent, deceptive or manipulative purpose.

See Other Sec laws here

I have been unable to get a response from anybody else at the company so all I need is to have another TD Ameritrade Executive look at my case and clarify TD Ameritrades policy . There is no way that the employees can say that they know the quotes are wrong and wont fix it or warn people because that would clearly violate the SEC Antifraud Provisions . I can understand a situation when the quotes are lagging or bad for a few hours or a day but not every single minute of every single day for several months . The former COO acknowledged that TD Ameritrade would take some responsibility for all the tech issues that were going on last year . Why should I have to go bankrupt and lose everything because of Jeff P. I asked Jeff P to escalate the case to the Chief Compliance Officer or  Dave Kelley last year but he refused. When Dave Kelley the former COO and Head of Technology got fired he got $4 Million as severance  but here I am left to go bankrupt after being a client for 10 years .

Read     Sec To Brokers – Execs On Hook For Operational Glitches/


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