* 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 alleging churning and unsuitable investments among other things, loses his claims against Respondent broker-dealer and broker. Respondent broker is granted expungement of this matter from his CRD record.
Notes
Arbitrator Remarks -- Expungement granted.
People & Entities
Arbitrators
Kenneth L. Mann
Broker-Dealers Named
Joseph Gunnar & Company LLC
Professionals
Cs: Pro se.
Rs: (JG&CLLC & DSH) John E. Lawlor, Attorney-at-Law, Mineola, NY. OSC.
* 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 broker alleging failure to pay minimum wages and breach of contract of two compensation agreements loses her claims against Respondent broker-dealer.
Notes
None.
Arbitrators
Thomas R. Watkins - Chair; Joseph H. Cooper; George H. Casey
Broker-Dealers Named
First Wilshire Securities Incorporated
Professionals
Cs: (JBH) Michael A. Strauss, Strauss & Strauss, Ventura, CA.
Rs: (FWSInc) Michael C. Lieb & Andrew J. Peterson, Ervin Cohen & Jessup, Beverly Hills, CA. OSC.
* 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 grants Claimant broker's request for reformation of his Form U5 record.
Notes
Please Note* This case was administered under the Special Proceeding option for simplified cases. Arbitrator Remarks -- Reformation U-5 granted. Panel composition issue.
Arbitrators
Yvonne Brathwaite Burke
Broker-Dealers Named
Charles Schwab & Company Incorporated
Professionals
Cs: (GJT) Tosh Grebenik & Zachary Hayes-Macaluso, FA Expungement LLC, Denver, CO.
Rs: (CS&CInc) Diana Tabacopoulos & Angela Evans, Seyfarth Shaw LLP, Los Angeles, CA. OSC.
* 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 failure to fulfill his order to close positions held in his account loses his case against Respondent broker-dealer.
* 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 and a customer Trust alleging unsuitability voluntarily withdraw their claims with prejudice against Respondent broker-dealer and Respondent broker. Respondent broker is granted expungement of this matter from her CRD record.
Notes
Majority Public Panel. Arbitrator Remarks -- Expungement granted.
Arbitrators
Joseph C. Watson, Esq. - Chair; Elliott David Finkel, Esq.; Sean Anthony Richardson
Broker-Dealers Named
Mesirow Financial Incorporated
Professionals
Cs: Philip L. Vujanov, ChapmanAlbin LLC, Cleveland, OH.
Rs: (MFInc & JER) Howard J. Rosenburg, Kopecky Schumacher Rosenburg LLC, Chicago, IL. OSC.
* 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 non-appearing Respondent broker is held liable to two customer trustees for compensatory damages, interest and attorney fees after the Arbitrator found that said broker committed common law fraud.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Rule 12801 Default Judgment. Arbitrator Remarks.
Arbitrators
Janice L. Sperow, Esq.
Broker-Dealers Named
None.
Professionals
Cs: Hilton Wiener, Law Office of H. Wiener, New York, NY.
* 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
Respondent broker is held liable to Claimant broker-dealer for damages relating to an alleged breach of the terms of an Independent Contractor Agreement.
Notes
Arbitrator Remarks.
Arbitrators
David M. Snyder, Esq. - Chair; Christopher William Crowley; Racquel Smith
Broker-Dealers Named
Auto Aftermarket Securities LLC
Professionals
Cs: (AASLLC) Eric D. Martin & Steven J. Alagna, Bryan Cave et al., St. Louis, MO. OSC.
* 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
The Arbitrator grants Respondent broker-dealer's Pre-Hearing Motion to Dismiss without prejudice pursuant to FINRA Rule 13206 (Six-year Eligibility Rule for Industry Disputes) relating to Claimant broker's requests for reformation of his Form U5 record.
Notes
Please Note* This case was administered under the Special Proceeding option for simplified cases. Pre-Hearing Adjudication -- Full Dismissal. Arbitrator Remarks -- Explained Award.
Arbitrators
Christopher J. Klein, Esq.
Broker-Dealers Named
MMC Securities LLC
Professionals
Cs: (JMP) Tosh Grebenik, FA Expungement LLC, Denver, CO.
Rs: (MMCSLLC) Francesca M. Lanpher, Littler Mendelson PC, San Francisco, CA. OSC.
* 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 All-Public Panel explains why it has decided to grant Respondent broker-dealer's and broker's Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 12504 (not associated the security, account, or conduct at issue).
Notes
Pre-Hearing Adjudication -- Full Dismissal. All-Public Panel. Arbitrator Remarks.
Arbitrators
Lynn Hirschfeld Brahin, Esq. - Chair; Jeffry Mark Bauer, Esq.; Natalie R. Dickey, Esq.
Broker-Dealers Named
Brokers International Financial Services LLC
Professionals
Cs: Mark E. Maddox, Maddox Hargett & Caruso, Fishers, IN.
Rs: (MCP & BIFSLLC) Connie M. Fickel & Tamar Yeghiayan, Lewis Brisbois et al., Los Angeles, CA. OSC.
* 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
Respondent broker-dealer is held liable to a customer for nearly $260,000 in damages (inclusive of $180,000 in punitive damages pursuant to North Carolina General Statutes Chapter 1D-15 (1) and (3)). The customer was awarded a default judgment against the non-appearing broker and his claims against said broker were severed from this case.
Notes
Punitive Damages Awarded. Rescission Requested. Rs James Hal Heafner was not assessed any portion of the awarded amount. Rs Taylor Capital Management Inc. was assessed. Rule 12801 default judgment. Severance. All-Public Panel. Arbitrator Remarks.
Arbitrators
John Russell Barlow, II, Esq. - Chair; Richard H. Potter, PhD; Ronald Bruce Natalie, Jr.
Broker-Dealers Named
Taylor Capital Management Incorporated
Professionals
Cs: Scott L. Silver, Silver Law Group, Coral Springs, FL.
* 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 grants Respondent broker-dealer's Pre-Hearing Motion to Dismiss Claimant's request for reformation of his Form U5 record pursuant to FINRA Rule 13504 (Release of Claims, res judicata).
Notes
Pre-Hearing Adjudication -- Full Dismissal. Arbitrator Remarks.
* 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 alleging churning and unauthorized trading, among other things, loses his case against Respondent broker-dealer and is held liable on Respondent broker-dealer's Counterclaim for breach of contract.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code.
Arbitrators
Gayle B. Carlson, Esq.
Broker-Dealers Named
Fidelity Brokerage Services LLC
Professionals
Cs: Pro se.
Rs: (FBSLLC) Patrick S. Christensen, FMR LLC Legal Department, Durham, NC. ISC.
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