UPDATE : ARBchek

This Report is a product of Securities Arbitration Commentator, Inc.

New Award Briefs

Report Dated: 2024-04-04

2024-08

Primary Sort

Secondary Sort

Dispute Information

Damages*

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Dodd v. Raymond James

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

23-02195

Products

NP

Issue Date

2024-03-13

Situs

Little Rock

State

AR

Clmd Compensatory

Equity

Total Amt Awarded

0.0

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

A Panel grants Respondents Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 13504(a)(6)(A) as the Claimant registered representative already released all claims against them under a previously executed Settlement Agreement and Mutual General Release.

Notes

Pre-Hearing Adjudication -- Full Dismissal. Arbitrator Remarks.

People & Entities

Arbitrators

Maryanne M. Esser, Esq. - Chair; Janet M. Thompson; Heath O. Lauseng

Broker-Dealers Named

Raymond James Financial Services Incorporated

Professionals

  • Cs: (SBD) None.
  • Rs: (RJFSInc & BB) Bruce W. Barnes, B.W. Barnes PA, Safety Harbor, FL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Steinman v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-02473

Products

ARS

Issue Date

2024-03-15

Situs

Los Angeles

State

CA

Clmd Compensatory

Equity

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

Pursuant to the stipulation of the parties, a single Arbitrator awards Claimant broker expungement of five customer complaints from her CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Joyce L. Hurley

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (MHS) Robert J. Girard II, Girard Bengali APC, Los Angeles, CA.
  • Rs: (UBSFSInc) John Murphy, J. Murphy & Associates, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Kennedy v. Stifel Nicolaus

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01961

Products

ARS

Issue Date

2024-03-15

Situs

Denver

State

CO

Clmd Compensatory

Equity

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

An Arbitrator awards Claimant broker expungement of two customer complaints from appearing on his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Michael S. Matek, Esq.

Broker-Dealers Named

Stifel Nicolaus & Company Incorporated

Professionals

  • Cs: (MAK) Debra A. Jenks, D.A. Jenks PA, West Palm Beach, FL.
  • Rs: (SN&CInc) James C. Browning Jr., St. Louis, MO. ISC.

TypeDisp

EmployeeMember

Allegation I

Compensatn

Short Caption

Gershoni v. Ameriprise Financial

Allegation II

Reformation(U-5)

Forum

FINRA

Allegation III

WrongTerm

Docket No

22-02275

Products

NP

Issue Date

2024-03-14

Situs

Hartford

State

CT

Clmd Compensatory

0.0

Total Amt Awarded

258.0

Compensatory Awarded

258.0

Punitive Damage Awarded

0.0

Attorney Fees Awarded

0.0

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

Although Claimant broker is awarded damages in this case, two Arbitrators dissent with one dissenting with respect to the denial of reformation of the broker's Form U5 record and the other Arbitrator dissenting with respect to the awarding of deferred compensation.

Notes

Arbitrator Remarks -- Arbitrators dissent with explanation.

Arbitrators

Lewis S. Kurlantzick, Esq. - Chair (Dissents); Patrick Leo Kennedy (Dissents); Richard Slavin, Esq.

Broker-Dealers Named

Ameriprise Financial Services Incorporated

Professionals

  • Cs: (DPG) David J. Freniere, Freniere Law Group PLLC, Wellesley, MA.
  • Rs: (AFSInc) Julie Fleming-Wolfe, Fleming-Wolfe Law, St. Paul, MN. OSC.

TypeDisp

SmallClms

Allegation I

Suitability

Short Caption

DeMocker v. Morgan Stanley

Allegation II

Negligence

Forum

FINRA

Allegation III

Supervision

Docket No

23-01880

Products

VariableLifeInsurance

Issue Date

2024-03-15

Situs

Washington

State

DC

Clmd Compensatory

44.1

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

In this small claims arbitration, a customer alleging unsuitability with respect to her purchase of a John Hancock Variable Universal Life Insurance Policy settles her case against Respondents. Respondent broker is awarded expungement of this matter from his CRD record.

Notes

This is a Stipulated Award. Please Note* This matter proceeded pursuant to Rule 12800 of the Code. The customer did not request a hearing. However, the Arbitrator ordered a hearing on expungement of customer dispute information. Arbitrator Remarks -- Expungement granted.

Arbitrators

Matthew Stephen Duchesne

Broker-Dealers Named

Morgan Stanley Smith Barney LLC; John Hancock Distributors LLC

Professionals

  • Cs: Pro se, through James Brian DeMocker, Leesburg, VA.
  • Rs: (MSSBLLC & TTK) Christine Kendrick, Morgan Stanley Legal and Compliance Division, San Francisco, CA. ISC.
  • Rs: (JHDLLC) John Hitchings, Sichenzia Ross Ference LLP, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Egbert v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-03044

Products

MuniSecs

Issue Date

2024-03-12

Situs

Washington

State

DC

Clmd Compensatory

Equity

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

Two brokers are awarded expungement of two customer complaints and one customer complaint (respectively) from each of their CRD records involving the purchase of municipal bonds.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Patricia Horan Latham, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (DJE & TS) Karl L. Marquardt, Bressler Amery & Ross, New York, NY.
  • Rs: (UBSFSInc) Charlotte S. Wolfe, UBS Business Solutions US LLC, Nashville, TN. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Maya v. JP Morgan

Allegation II

Forum

FINRA

Allegation III

Docket No

23-02132

Products

Commodities; Cryptocurrency

Issue Date

2024-03-11

Situs

Boca Raton

State

FL

Clmd Compensatory

Equity

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

A Panel awards a broker expungement of a complaint from his CRD record despite the objection of the customer whose said complaint involved the purchase of Bit Coin and Cryptocurrencies.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Kimberly A. Gilmour, Esq. - Chair; Adam Lawrence Frankel; Samuel Adam Katz

Broker-Dealers Named

JP Morgan Securities LLC

Professionals

  • Cs: (SM) Brandon M. Taaffe, Shumaker Loop & Kendrick LLC, Sarasota, FL.
  • Rs: (JPMSLLC) Michael A. Gross, UB Greensfelder LLP, Boca Raton, FL. OSC.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

Oppenheimer & Company v. Arias

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

23-03515

Products

PromissoryNote

Issue Date

2024-03-12

Situs

Boca Raton

State

FL

Clmd Compensatory

140.7

Total Amt Awarded

140.7

Compensatory Awarded

140.7

Punitive Damage Awarded

Attorney Fees Awarded

0.0

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

A non-appearing registered representative is held liable to Claimant broker-dealer for the amount due and owing on a promissory note agreement.

Notes

None.

Arbitrators

Robert G. Geeseman, Esq.

Broker-Dealers Named

Oppenheimer & Company Incorporated

Professionals

  • Cs: (O&CInc) Cory S. Zadanosky, Schwed Kahle & Kress, Palm Beach Gardens, FL. OSC.
  • Rs: (SBA) None.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Kudarauskas v. Woodbury Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-02414

Products

DirectInvesmts

Issue Date

2024-03-14

Situs

Atlanta

State

GA

Clmd Compensatory

Equity

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

A Panel grants Claimant broker's request for expungement of one customer complaint from his CRD record but denies his request for expungement of two more complaints after finding that none of the requirements under FINRA Rule 2080(b)(1)(A), (B) or (C) were proven and the requests were time-barred under Rule 13206 (Six-year Eligibility Rule for Industry Disputes).

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Jeffrey Alperin - Chair; Andy W. Morgan, Esq.; Gary P. Alexander

Broker-Dealers Named

Woodbury Financial Services Incorporated; Paulson Investment Company LLC; Schneider Securities Incorporated

Professionals

  • Cs: (TAK) Jack D. Butler & David A. Welling, Choken Welling LLP, Beachwood, OH.
  • Rs: (WFSInc) Jennifer R. Cox & Justin Sacca, Jersey City, NJ. ISC.
  • Rs: (PICLLC) Amal Amin, Chicago, IL. ISC.
  • Rs: (SSInc) No-show.

TypeDisp

SmallClms

Allegation I

FailToObey

Short Caption

Obama v. Merrill Lynch

Allegation II

Operations

Forum

FINRA

Allegation III

Docket No

23-02693

Products

NP

Issue Date

2024-03-12

Situs

Atlanta

State

GA

Clmd Compensatory

1.5

Total Amt Awarded

0.0

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

In this small claims arbitration, an Arbitrator dismisses with prejudice a customer's case pursuant to FINRA Rule 12212(c) (Discovery Sanctions) for his failure to prosecute his claims and comply with the Arbitrator's Order to provide FINRA with his representative's contact information so a new pre-hearing could be scheduled in this matter.

Notes

Please Note* This matter proceeded pursuant to Rule 12800 of the Code under the Special Proceeding option. Sanctions imposed. Pre-Hearing Adjudication -- Full Dismissal. Arbitrator Remarks.

Arbitrators

Harry G. Mason, JD

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

  • Cs: Thomas Nealy, Attorney-at-Law, Atlanta, GA.
  • Rs: (MLPFSInc) Tara LaClair, Steptoe & Johnson, Oklahoma City, OK. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Weiss v. New England Securities

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01203

Products

NP

Issue Date

2024-03-13

Situs

Des Moines

State

IA

Clmd Compensatory

Equity

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

Broker wins expungement of a customer complaint from his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Steven Mark Bell

Broker-Dealers Named

New England Securities Corporation

Professionals

  • Cs: (MDW) Harris Freedman & Dochtor Kennedy, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (NESCorp) Martin Harris, Harris & Affiliates Limited, Chicago, IL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Lamkin v. Calton & Associates

Allegation II

Forum

FINRA

Allegation III

Docket No

23-00802

Products

MutualFunds; Annuities; VariableAnnuities; REITs

Issue Date

2024-03-15

Situs

Louisville

State

KY

Clmd Compensatory

Equity

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

Claimant broker is awarded expungement of five customer complaints from his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

George G. Kurschner, Esq.

Broker-Dealers Named

Calton & Associates Incorporated

Professionals

  • Cs: (MTL) Nathan W. Lamb, Ulmer & Berne LLP, Chicago, IL.
  • Rs: (C&AInc) Saad Rahmouni, Tampa, FL. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Alvarez v. Ameriprise Financial

Allegation II

Reformation(U-5)

Forum

FINRA

Allegation III

Defamation

Docket No

23-01062

Products

NP

Issue Date

2024-03-13

Situs

New Orleans

State

LA

Clmd Compensatory

0.0

Total Amt Awarded

0.0

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

A Panel denies a broker's request for expungement of six occurrences from appearing on his CRD and Form U5 records after finding that said broker failed to meet his burden of proof that such relief is warranted.

Notes

Arbitrator Remarks.

Arbitrators

Jeffrey Ackermann - Chair; Richard William Cryar; Dale A. Kaliszeski

Broker-Dealers Named

Ameriprise Financial Services Incorporated; IDS Life Insurance Company; International Assets Advisory LLC; LPL Financial LLC

Professionals

  • Cs: (RMA) Avinoam Rosenfeld, The Rosenfeld Law Office PLLC, Lawrence, NY.
  • Rs: (AFSInc & IDSLICo) Howard M. Klausmeier, Ameriprise Financial Services LLC, Troy, MI. ISC.
  • Rs: (IAALLC) Myra P. Nicholson, M. Nicholson PA, Orlando, FL. OSC.
  • Rs: (LPLFLLC) Kelsey Vasko, Vice President, San Diego, CA. ISC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Littlefield v. Hensley

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Negligence

Docket No

23-02226

Products

*

Issue Date

2024-03-11

Situs

Charlotte

State

NC

Clmd Compensatory

100.0

Total Amt Awarded

Equity

Compensatory Awarded

0.0

Punitive Damage Awarded

0.0

Attorney Fees Awarded

0.0

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

Two customers (individually and on behalf of their IRAs) lose their case against Respondents after the Arbitrator explains why he has granted their Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 12206 (Six-year Eligibility Rule).

Notes

Pre-Hearing Adjudication -- Full Dismissal. Rescission Requested. Arbitrator Remarks -- Explained Award. Case law cited.

Arbitrators

Daniel F. Piar, JD

Broker-Dealers Named

Triad Advisors LLC

Professionals

  • Cs: Matthew Thibaut, Haselkorn & Thibaut, Juno Beach, FL.
  • Rs: (MJH & TALLC) Zachary Chuey & Eric Michaels & Janine Lucas, Saretsky Hart et al., Birmingham, MI. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

McCloskey v. David Lerner

Allegation II

Negligence

Forum

FINRA

Allegation III

Supervision

Docket No

21-02779

Products

DirectInvesmts

Issue Date

2024-03-12

Situs

New York

State

NY

Clmd Compensatory

100.0

Total Amt Awarded

0.0

Compensatory Awarded

0.0

Punitive Damage Awarded

0.0

Attorney Fees Awarded

0.0

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

An Arbitrator dismisses a customer's case with prejudice as a sanction pursuant to FINRA Rule 12212 (Discovery) for the parties' failure to comply with his Order regarding the rescheduling of hearing dates in this matter after notifying FINRA of a settlement in principle.

Notes

Pre-Hearing Adjudication -- Full Dismissal. Sanctions imposed. Rescission Requested. Arbitrator Remarks.

Arbitrators

Ronald Harris Kisner

Broker-Dealers Named

David Lerner Associates Incorporated

Professionals

  • Cs: Matthew Thibaut, Haselkorn & Thibaut, Juno Beach, FL.
  • Rs: (DLAInc) Eugene L. Small, E.L. Small PC, New York, NY. OSC.

TypeDisp

CustomerMember

Allegation I

Misappropriatn

Short Caption

DiDonna v. Fidelity Brokerage

Allegation II

FailToObey

Forum

FINRA

Allegation III

BreachContract

Docket No

21-02852

Products

NP

Issue Date

2024-03-14

Situs

New York

State

NY

Clmd Compensatory

166.6

Total Amt Awarded

0.0

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

0.0

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

A majority Public Panel imposes sanctions against Claimant customer pursuant to FINRA Rule 12212 (Discovery) and dismisses his case against Respondent broker-dealer with prejudice.

Notes

Sanctions imposed. Majority Public Panel.

Arbitrators

Keely D. Parr, Esq. - Chair; Nancy Marie Thevenin, Esq.; Linda Yarden, Esq.

Broker-Dealers Named

Fidelity Brokerage Services LLC

Professionals

  • Cs: Pro se.
  • Rs: (FBSLLC) Rebecca E. Swenson, FMR LLC Legal Department, Boston, MA. ISC.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

Colucci v. E*Trade Securities

Allegation II

BreachFiducDty

Forum

FINRA

Allegation III

BreachContract

Docket No

22-02381

Products

Equity; Margin

Issue Date

2024-03-12

Situs

New York

State

NY

Clmd Compensatory

0.0

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

0.0

Attorney Fees Awarded

0.0

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

A customer (individually and as Executor of an Estate) alleging elder abuse against Respondent broker-dealer settles her case. Two Non-Party brokers are awarded expungement of this matter from their CRD records.

Notes

This is a Stipulated Award. All-Public Panel. Arbitrator Remarks -- Expungement granted.

Arbitrators

Linda J. Baer, Esq. - Chair; Ivan W. Harper, CPA; Amy Jill Baranoff

Broker-Dealers Named

E*Trade Securities LLC

Professionals

  • Cs: David J. Freniere, Freniere Law Group PLLC, Wellesley, MA.
  • Rs: (ETSLLC) Joseph L. Calabrese, Bressler Amery & Ross, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Schiffmiller v. American Portfolios

Allegation II

Forum

FINRA

Allegation III

Docket No

23-02653

Products

REITs

Issue Date

2024-03-15

Situs

New York

State

NY

Clmd Compensatory

Equity

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

Registered Rep is granted his request for expungement of a customer complaint from his CRD record involving the purchase of real estate investment trusts.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Linda J. Baer, Esq.

Broker-Dealers Named

American Portfolios Financial Services Incorporated

Professionals

  • Cs: (DS) Robert Moses, RJM Counsel PLLC, New York, NY.
  • Rs: (APFSInc) Craig Vollono, Executive Vice President, Holbrook, NY. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Sethi v. Merrill Lynch

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

23-01293

Products

NP

Issue Date

2024-03-15

Situs

Philadelphia

State

PA

Clmd Compensatory

0.0

Total Amt Awarded

0.0

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

Registered Rep loses his request for reformation of a termination entry appearing on his Form U5 record that was allegedly defamatory in nature.

Notes

None.

Arbitrators

George Forest Bingham, Esq.

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

  • Cs: (NRSS) Everett Pritchard, HLBS Law, Westminster, CO.
  • Rs: (MLPFSInc) Kathryn D. Perreault & Rima Hartman & Michael C. Guarino, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Kleinfelter v. TD Ameritrade

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01381

Products

MutualFunds

Issue Date

2024-03-12

Situs

Philadelphia

State

PA

Clmd Compensatory

Equity

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

Registered representative is granted his request for expungement of a customer complaint from his CRD record involving the purchase of mutual funds.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Diane Ciccone, Esq.

Broker-Dealers Named

TD Ameritrade Incorporated

Professionals

  • Cs: (BDK) Dochtor Kennedy & Harris Freedman, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (TDAInc) Garrett R. Wynne, Charles Schwab & Company Incorporated, Lone Tree, CO. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Blok v. Grove Point

Allegation II

Forum

FINRA

Allegation III

Docket No

23-02529

Products

NP

Issue Date

2024-03-14

Situs

Philadelphia

State

PA

Clmd Compensatory

Equity

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

A Panel grants Claimant broker's request for expungement of a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Louis P. Wagman - Chair; Thomas R. Nathan; Leo J. Karwejna

Broker-Dealers Named

Grove Point Investments LLC

Professionals

  • Cs: (PNB) Benjamin F. Biard & Zachery Knoblock, Winget Spadafora & Schwartzberg LLP, Miami, FL.
  • Rs: (GPILLC) Matt Winterhalter, Rockville, MD. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Ruud v. US Bancorp

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

23-01243

Products

NP

Issue Date

2024-03-13

Situs

Nashville

State

TN

Clmd Compensatory

0.0

Total Amt Awarded

0.0

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

An Arbitrator denies a broker his request for reformation of his Form U5 record.

Notes

None.

Arbitrators

Michael J. Ahlstrom, Esq.

Broker-Dealers Named

US Bancorp Investments Incorporated

Professionals

  • Cs: (ACR) Harris Freedman & Dochtor Kennedy, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (USBIInc) Briana Al Taqatqa, Dorsey & Whitney LLP, Minneapolis, MN. OSC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Norwood v. VALIC Financial

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

23-01544

Products

NP

Issue Date

2024-03-15

Situs

Dallas

State

TX

Clmd Compensatory

0.0

Total Amt Awarded

0.0

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

Claimant broker loses his request for reformation of alleged defamatory information from his Form U5 record.

Notes

None.

Arbitrators

John Kenneth Popham

Broker-Dealers Named

VALIC Financial Advisors Incorporated

Professionals

  • Cs: (KTN) Harris Freedman & Dochtor Kennedy, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (VALICFAInc) Kathryn D. Perreault & Anthony DellaSala, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Stewart v. Equitable Advisors

Allegation II

Forum

FINRA

Allegation III

Docket No

23-02867

Products

VariableLifeInsurance; Equity

Issue Date

2024-03-13

Situs

Seattle

State

WA

Clmd Compensatory

Equity

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

An Arbitrator awards a broker expungement of a customer complaint from appearing on his CRD record after finding said expungement met all three criteria under FINRA Rule 2080.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Stephany Adriene Watson, Esq.

Broker-Dealers Named

Equitable Advisors LLC aka AXA Advisors LLC

Professionals

  • Cs: (RBS) Stephan Louviere, Louviere Law Firm, Pompano Beach, FL.
  • Rs: (EALLC) Karen H. Chapman, Charlotte, NC. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Steffens v. Park Avenue Securities

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01455

Products

Annuities

Issue Date

2024-03-15

Situs

Milwaukee

State

WI

Clmd Compensatory

Equity

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

Broker is awarded expungement of a customer complaint from his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Gregory G. Gocek

Broker-Dealers Named

Park Avenue Securities LLC

Professionals

  • Cs: (MJS) Alexander Padla & Dochtor Kennedy, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (PASLLC) Shabbir R. Chaudhury, Guardian Life Insurance Company of America, New York, NY. ISC.
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