Calvin Kleinmann Failed to Comply With an Arbitration Award

Calvin Kleinmann (CRD #:2382117), a broker formerly registered with Wells Fargo Clearing Services, has been suspended by FINRA for allegedly failing to comply with an arbitration award or settlement agreement, according to his BrokerCheck Record accessed on December 14, 2021. 

Suspension 

FINRA arbitration awards are binding, with only limited appeal rights. Registered representatives or firms subject to an adverse decision in award-related arbitration proceedings are required to pay an award within 30 days. Failure to take action could result in suspension. Notably, FINRA Rule 9554 contains expedited disciplinary procedures for a broker or broker-dealer’s failure to comply with the terms of an arbitration award.  

Calvin Kleinmann was suspended indefinitely from November 29, 2021. The suspension will continue until he fully pays the arbitration award. 

You can access the full arbitration award here. 

Background Information 

Calvin Kleinmann has passed the following exams: 

• Series 66 – Uniform Combined State Law Examination 
• Series 63 – Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 31 – Futures Managed Funds Examination 
• Series 7 – General Securities Representative Examination  
• Series 6 – Investment Company Products/Variable Contracts Representative Examination 
• Series 10 – General Securities Sales Supervisor – General Module Examination 
• Series 9 – General Securities Sales Supervisor – Options Module Examination 

Calvin Kleinmann has also worked with the following firms: 

• Morgan Stanley (CRD#:149777) 

• Mercantile Investment Services (CRD#:19908) 

Kurta Law Can Help  

If you have been victimized by Calvin Kleinmann, don’t hesitate to get in touch with us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.  

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.