* 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 default proceeding, a non-appearing registered representative is held liable for the amount due and owing pursuant to a Promissory Note agreement and Independent Contractor Agreement.
Notes
Rule 13801 default judgment. Arbitrator Remarks.
Arbitrators
Charles Chia-Lin Hsieh
Broker-Dealers Named
First Allied Securities Incorporated
Professionals
Cs: (FASInc) David G. Smitham, Cetera Financial Group, El Segundo, CA. ISC.
* 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 unusual case, Claimant broker is found not liable to Respondent broker-dealer and T-Pty Respondent broker-dealer for the amounts allegedly due and owing under a promissory note agreement. However, said Claimant broker also loses his case against Respondent broker-dealers for wrongful termination and compensation.
Notes
None.
Arbitrators
David Adams Reif - Chair; Sean Alan D'Amico; James Bromley Bragg
* 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 granted expungement of seven customer complaints from appearing on her CRD record involving the purchase of Puerto Rican municipal bonds.
Notes
Arbitrators
Patricia Horan Latham, Esq.
Broker-Dealers Named
Santander Securities LLC
Professionals
Cs: (BLV) David I. Hantman, Bressler Amery & Ross, New York, NY.
Rs: (SSLLC) Sara L. Velez-Santiago & Jason Aguilo, Pietrantoni Mendez & Alvarez, San Juan, PR. 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
Two customers on behalf of their respective IRAs settle their case against Respondent broker-dealer involving the purchase of various REIT investments. Non-Party registered rep is awarded expungement of this matter from his CRD record.
Notes
This is a Stipulated Award. Arbitrator Remarks -- Expungement granted.
Arbitrators
Stuart K. Furman - Chair; Mauricio Arcadier, JD; John Briggs
Broker-Dealers Named
Newbridge Securities Corporation
Professionals
Cs: William B. Young Jr., Collling Gilbert et al., Orlando, 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
A customer alleging unsuitability with respect to his investment in GPB Capital Holdings LLC settles his case against Respondent broker-dealer. Non-Party broker is granted expungement of this matter from his CRD record.
Notes
This is a Stipulated Award. All-Public Panel. Arbitrator Remarks -- Expungement granted.
Arbitrators
James C. Hoover, Esq. - Chair; Michael Ryan Peacock, Esq.; Lakeya Brantley
Broker-Dealers Named
Arkadios Capital
Professionals
Cs: Adam J. Weinstein, Gana Weinstein LLP, New York, NY.
Rs: (ACptl) Peter B. King & R. Max McKinley, Guerra King PA, Tampa, FL. 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 customer alleging that it was charged fees for services not rendered by Respondent broker-dealer loses its case and is held liable to Respondent broker-dealer for $1.6 million in damages on its breach of contract Counterclaim relating to an engagement letter.
Notes
Big $s (Counterclaim). All-Public Panel.
Arbitrators
James C. Morrow, Esq. - Chair; David W. White; Amy L. Coopman, Esq.
Broker-Dealers Named
Spurrier Capital Partners LLC
Professionals
Cs: Robert A. Henderson, Polsinelli PC, Kansas City, MO.
Rs: (SCPLLC) Joseph P. Rockers & Jordan Benson, Goodwin Procter LLP, Boston, MA. OSC and Jim Griffin, Scharnhorst Ast et al., Kansas City, 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
Despite the Panel's partially granting Respondents Pre-Hearing Motion to Dismiss pursuant to Rule 12206 (Six-year Eligibility Rule), Claimant customer settles her claims involving the purchase of Weatherford International Ltd., along with other various securities. Respondent broker loses his request for expungement of this matter from his CRD record.
Notes
This is a Stipulated Award. Majority Public Panel.
Arbitrators
Thomas Matthew Madden - Chair; Eric Zaidins; Gary Ford Munowitz, CPA
Broker-Dealers Named
Morgan Stanley
Professionals
Cs: David Vermont, Securities Arbitration Law Group PLLC, Washington, DC.
Rs: (MSSBLLC & DJS) Abigail Elrod, New York, NY. ISC.
* 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 registered rep for damages due and owing under a promissory note agreement, while Claimant registered rep is found liable on Respondent broker's Counterclaim. This award is subject to set-off and as such Claimant registered rep's liability to Respondent broker is extinguished.
* 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 account errors loses his case after the Arbitrator granted Respondent broker-dealer's Motion to Dismiss/Motion for Directed Verdict. The Arbitrator also imposed monetary sanctions against Claimant for discovery violations.
Notes
Directed Verdict -- Full Dismissal. Sanctions imposed.
Arbitrators
Robert Elliot Harrison
Broker-Dealers Named
Charles Schwab & Company Incorporated
Professionals
Cs: Pro se.
Rs: (CS&CInc) Garrett R. Wynne, Lone Tree, CO. ISC.
* 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 explains in great detail why he has granted Respondent broker-dealer's Pre-Hearing Motion to Dismiss without prejudice Claimant broker's request for reformation of his Form U5 record pursuant to FINRA Rule 13206 (Six-year Eligibility Rule) after finding that said request was not subject to tolling.
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
David John Reilly
Broker-Dealers Named
Chase Investment Services Corporation
Professionals
Cs: (JAM) Tosh D. Grebenik, Judex Law LLC, Broomfield, CO.
Rs: (CISCorp) Jeffrey S. Dunlap & McClellon D. Cox III, Ulmer & Berne LLP, Cleveland, OH. 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 his small claims case, customer alleging unsuitability with respect to the purchase of various securities including Energy 11 LP, and Spirit of America Income and Opportunity Fund to name a few, is awarded compensatory damages against Respondent broker-dealer. Respondent broker loses his request for expungement of this matter from his CRD record.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Rs Daniel Todd Lerner was not assessed any portion of the awarded amount. Rs David Lerner Associates Inc. was assessed.
Arbitrators
Albert Rizzo
Broker-Dealers Named
David Lerner Associates Incorporated
Professionals
Cs: Steven A. Gelfand, Attorney-at-Law, New York, NY.
Rs: (DLAInc & DTL) Eugene L. Small, E.L. Small PC, New York, 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
Claimant broker is awarded expungement of three customer complaints from appearing on his CRD record but loses his request for expungement of a fourth occurrence.
Cs: (ALD) Lydia R. Zaidman & Richard A. D'Amura, D'Amura & Zaidman, Austin, TX.
Rs: (RAAInc) Jennifer Cox, Advisor Group Incorporated, Jersey City, NJ. ISC.
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