ARBchek - Arbitrator Research Base

1. Naccarati v. JP Morgan FINRA ID #24-01775 (Philadelphia, PA, 2025-01-21) – The Panel explains why it has decided to grant Respondent broker-dealer's Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 12200 (Arbitration Under an Arbitration Agreement or the Code) as the customer never had an account with Respondent broker-dealer, never entered into any agreement with Respondent broker-dealer mandating arbitration, and cannot compel arbitration as he failed to establish he was a customer of Respondent.

2. Benson v. Ameriprise Financial FINRA ID #23-03178 (Columbia, SC, 2025-01-24) – After Claimant and Respondent entered into a Confidential Settlement Agreement, the sole remaining issue before the All-Public Panel was Respondent broker-dealer's T-Pty Claim for indemnification. Although a majority of the Panel found that Respondent broker-dealer did not meet its burden of proof with respect to its allegation of indemnification, said broker-dealer was awarded $41,000 in compensatory damages based on the admitted testimony of T-Pty Respondent that he signed and then negotiated a check for that amount that was drawn against the customer's account. The dissenting Arbitrator would have awarded Respondent broker-dealer $100,000 on its indemnification claim.