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FINRA Broker Allegations

Allegations against: Herbert Garrett Frey

Allegation type: Customer Dispute

Allegation status: Settled

The allegations read: Purchaser purchased commercial paper and the issuer of the commercial paper subsequently went into chapter xi proceedings. The action related to the duty of the brokerage to have known the condition of the issuer at the time the sale was made rather than relying on previous financial information, and what representations were not made.

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