UPDATE : ARBchek

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

New Award Briefs

Report Dated: 2024-03-18

2024-06

Primary Sort

Secondary Sort

Dispute Information

Damages*

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

Andrews v. Humber

Allegation II

Suitability

Forum

FINRA

Allegation III

Supervision

Docket No

22-01176

Products

MuniSecs

Issue Date

2024-02-26

Situs

Birmingham

State

AL

Clmd Compensatory

0.0

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

After granting Respondents' request for monetary sanctions, an All-Public Panel (despite the dissent of one Arbitrator), denies a customer's case involving the purchase of municipal bonds. Respondent broker is granted his request for expungement of this matter from his CRD record.

Notes

Sanctions imposed. Rescission Requested. All-Public Panel. Arbitrator Remarks -- Arbitrator dissents without explanation.

People & Entities

Arbitrators

Debra Black Leo - Chair; Derry Olive Wilcox (Dissents); Michael Tryon

Broker-Dealers Named

Stifel Nicolaus & Company Incorporated

Professionals

  • Cs: Richard S. Frankowski & Brad Rounsaville & Jaime Scivley, The Frankowski Firm LLC, Birmingham, AL.
  • Rs: (WSH & SN&CInc) Peter S. Fruin & Matthew Bowness, Maynard Nexsen PC, Birmingham, AL. OSC.

TypeDisp

MemberCustomer

Allegation I

DebitBalance

Short Caption

Tastyworks Incorporated v. Lopez

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

22-01988

Products

Equity; Margin

Issue Date

2024-02-20

Situs

Phoenix

State

AZ

Clmd Compensatory

408.8

Total Amt Awarded

469.6

Compensatory Awarded

419.3

Punitive Damage Awarded

0.0

Attorney Fees Awarded

50.3

* 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 holds a non-appearing customer liable to Claimant broker-dealer for damages (including attorney fees and costs) as a result of a debit balance he incurred in his margin account.

Notes

Damage Anomaly. Majority Public Panel. Arbitrator Remarks.

Arbitrators

Benjamin F. Breslauer - Chair; Deana S. Peck; Allen B. Lang

Broker-Dealers Named

Tastyworks Incorporated

Professionals

  • Cs: (TInc) Thomas G. Haskins Jr., Barnes & Thornburg LLP, Dallas, TX. OSC.
  • Rs: No-show.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Ambrosia Networks v. Crown Capital

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

22-01882

Products

DirectInvesmts; REITs

Issue Date

2024-02-27

Situs

Los Angeles

State

CA

Clmd Compensatory

400.0

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

Two customers alleging unsuitability with respect to their purchase of non-traded real estate investment trusts and GPB Capital settle their case against Respondent broker-dealer. Respondent broker-dealer loses its request for expungement on behalf of a Non-Party registered representative.

Notes

This is a Stipulated Award. All-Public Panel.

Arbitrators

Natalie Panossian-Bassler - Chair; Barbara M. Zak, Esq.; Robert B. Hansohn

Broker-Dealers Named

Crown Capital Securities Limited Partnership

Professionals

  • Cs: Adam J. Gana, Gana Weinstein LLP, New York, NY.
  • Rs: (CCSLP) Craig R. Bockman, Jones Bell et al., Los Angeles, CA. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Smith v. Edward Jones

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01488

Products

NP

Issue Date

2024-03-01

Situs

San Francisco

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

An Arbitrator denies Respondent broker-dealer's Pre-Hearing Motion to Dismiss on eligibility grounds (FINRA Rule 13206) without prejudice and awards Claimant expungement of two customer complaints from his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Jonathan H. Krotinger, Esq.

Broker-Dealers Named

Edward Jones

Professionals

  • Cs: (TAS) Chelsea Bauer, HLBS Law, Broomfield, CO.
  • Rs: (EDJ&CLP) Melanie L. Ronen & Lucas Garcia, Keesal Young & Logan, Long Beach, CA. OSC.

TypeDisp

SmallClms

Allegation I

Suitability

Short Caption

Guerrero v. LPL Financial

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

23-01820

Products

*

Issue Date

2024-02-28

Situs

Los Angeles

State

CA

Clmd Compensatory

50.0

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

In this small claims arbitration, a customer alleging violation of the Securities Act and Blue Sky laws, settles her case against Respondent member firm. Non-Party 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. Cs did not request a hearing. Rescission Requested. Arbitrator Remarks -- Expungement granted.

Arbitrators

Andrew M. Mintzer, CPA

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: Michael C. Bixby, Bixby Law PLLC, Pensacola, FL and Samuel B. Edwards, Shepherd Smith et al., Houston, TX.
  • Rs: (LPLFLLC) David I. Hantman, Bressler Amery & Ross, New York, NY. OSC.

TypeDisp

SmallClms

Allegation I

Operations

Short Caption

Lash v. Citigroup Global

Allegation II

Negligence

Forum

FINRA

Allegation III

BreachContract

Docket No

23-02349

Products

NP

Issue Date

2024-03-01

Situs

San Francisco

State

CA

Clmd Compensatory

30.0

Total Amt Awarded

51.1

Compensatory Awarded

51.1

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, Respondent broker-dealer is held liable to Claimant for over $50,000 in compensatory damages relating to his Individual Retirement Account.

Notes

Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing. Damage Anomaly. Clrg BD dispute.

Arbitrators

Philip Aaron Tymon, JD

Broker-Dealers Named

Citigroup Global Markets Incorporated

Professionals

  • Cs: Pro se.
  • Rs: (CGMInc) Ellen M. Murphy & Nicole Lloret & Angelina T. Evans, Seyfarth Shaw LLP, New York, NY. OSC.

TypeDisp

SmallClms

Allegation I

Suitability

Short Caption

Adams v. US Bancorp

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Docket No

23-02654

Products

MutualFunds

Issue Date

2024-02-22

Situs

San Francisco

State

CA

Clmd Compensatory

50.0

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

In this small claims arbitration, an Arbitrator explains why he has decided to deny a customer's case against Respondents finding that said customer decided to liquidate her securities in spite of the advice she was given by the registered representative and that her account, in fact, gained money.

Notes

Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Arbitrator Remarks.

Arbitrators

Dean J. Dietrich, Esq.

Broker-Dealers Named

US Bancorp Investments Incorporated

Professionals

  • Cs: Pro se.
  • Rs: (USBIInc & DN) Shawn Larsen-Bright, Dorsey & Whitney, Seattle, WA. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Hedley v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-02756

Products

NP

Issue Date

2024-03-01

Situs

San Francisco

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

A single Arbitrator awards Claimant broker expungement of a customer complaint from his CRD record after finding that he met his burden of proof under all three criteria of FINRA Rule 2080.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

John J. Fitzpatrick, Jr., Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (DAH) Randi Perry Spallina, Bressler Amery & Ross, Fort Lauderdale, FL.
  • Rs: (UBSFSInc) Omar Perez, UBS Business Solutions US LLC, Nashville, TN. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

McGregor v. Wilbanks Securities

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

23-02512

Products

NP

Issue Date

2024-03-01

Situs

Denver

State

CO

Clmd Compensatory

0.0

Total Amt Awarded

Equity

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 broker loses his request for nominal damages but is granted reformation of his Form U5 record based on the defamatory nature of the information.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Frances Johnson-Wright, Esq.

Broker-Dealers Named

Wilbanks Securities Incorporated

Professionals

  • Cs: (MMM) Harris Freedman, HLBS Law, Broomfield, CO.
  • Rs: (WSInc) No-show.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Karjanis v. National Securities

Allegation II

Forum

FINRA

Allegation III

Docket No

23-00909

Products

DirectInvesmts

Issue Date

2024-02-27

Situs

Hartford

State

CT

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 granted his request for expungement of a customer complaint from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Sean Alan D'Amico - Chair; Jud Perkins; David Stein

Broker-Dealers Named

National Securities Corporation

Professionals

  • Cs: (DK) Craig A. Riha, Gusrae Kaplan Nusbaum PLLC, Melville, NY.
  • Rs: (NSCorp) Emily A. Hayes, New York, NY. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Wheeler v. Citigroup Global

Allegation II

Forum

FINRA

Allegation III

Docket No

23-02222

Products

NP

Issue Date

2024-03-01

Situs

Hartford

State

CT

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 grants a broker's request for expungement of a customer complaint from appearing on her CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Susan E. Maloney, Esq.

Broker-Dealers Named

Citigroup Global Markets Incorporated

Professionals

  • Cs: (WCW) Stephan Louviere, Louviere Law Firm, Pompano Beach, FL.
  • Rs: (CGMInc) Adam M. Kauff, Kauff Laton Miller LLP, New York, NY. OSC.

TypeDisp

SmallClms

Allegation I

Misreprestn

Short Caption

Jakiun v. Vanguard Marketing

Allegation II

Forum

FINRA

Allegation III

Docket No

23-02615

Products

NP

Issue Date

2024-03-01

Situs

Washington

State

DC

Clmd Compensatory

7.2

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, a customer alleging that he was given misinformation with respect to a Coronavirus related distribution from his employer-sponsored retirement plan loses his case after the Arbitrator determined that the inaction on the part of said customer and the naming of the wrong party is fatal to this claim.

Notes

Please Note* This matter proceeded pursuant to Rule 13800 of the Code. Arbitrator Remarks.

Arbitrators

Laura A. Kaster

Broker-Dealers Named

Vanguard Marketing Corporation

Professionals

  • Cs: Pro se.
  • Rs: (VMCorp) Samantha B. Kats, Stradley Ronon et al., Philadelphia, PA. OSC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Zane v. PNC Investments

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

23-01353

Products

NP

Issue Date

2024-02-28

Situs

Wilmington

State

DE

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

Despite denying Respondent broker-dealer's Motion for Directed Verdict alleging failure to present a case, an Arbitrator denies a registered representative's request for reformation of his Form U5 record.

Notes

None.

Arbitrators

Guillermo L. Bosch, Esq.

Broker-Dealers Named

PNC Investments

Professionals

  • Cs: (DMZ) Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (PNCInvmts) Angelina T. Evans, Seyfarth Shaw LLP, Los Angeles, CA. OSC.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

McCready v. UBS Financial

Allegation II

BreachFiducDty

Forum

FINRA

Allegation III

Supervision

Docket No

22-01781

Products

Options

Issue Date

2024-02-21

Situs

Boca Raton

State

FL

Clmd Compensatory

500.0

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

Two customers alleging that Respondent broker-dealer's Yield Enhancement Options Strategy program was misrepresented to them settle their case. Non-Party broker is awarded expungement of this matter from his CRD record.

Notes

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

Arbitrators

Sidney Seligman - Chair; John Rinaldi; Priscilla Coq, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: Jeffrey Erez, Erez Law PLLC, Miami, FL.
  • Rs: (UBSFSInc) Omar Perez, UBS Business Solutions US LLC, Nashville, TN. ISC.

TypeDisp

MemberCustomer

Allegation I

DebitBalance

Short Caption

Interactive Brokers v. Suleymanov

Allegation II

BreachContract

Forum

FINRA

Allegation III

MarginLiqdn

Docket No

22-02192

Products

Equity; Margin

Issue Date

2024-02-20

Situs

Boca Raton

State

FL

Clmd Compensatory

146.2

Total Amt Awarded

146.2

Compensatory Awarded

146.2

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 Respondent customer is held liable to Claimant broker-dealer for damages due to a debit balance he incurred as a result of a margin liquidation on his account.

Notes

All-Public Panel.

Arbitrators

Sidney J. Wartel, JD - Chair; Diane M. Perry, Esq.; Mark H. Schiff

Broker-Dealers Named

Interactive Brokers LLC

Professionals

  • Cs: (IBLLC) Jovalin Dedaj, Greenwich, CT. ISC.
  • Rs: Pro se.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Molnar v. Ameriprise Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01963

Products

BDCs

Issue Date

2024-03-01

Situs

Tampa

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

Registered wins expungement of a customer occurrence from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Richard S. Zaifert, Esq. - Chair; David M. Snyder, Esq.; Lisa Elkin Schwartz

Broker-Dealers Named

Ameriprise Financial Services Incorporated

Professionals

  • Cs: (RLM) Lawton R. Graves, Murphy & Anderson, Jacksonville, FL.
  • Rs: (AFSLLC) Howard M. Klausmeier, Troy, MI. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Westmoreland v. Merrill Lynch

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01923

Products

NP

Issue Date

2024-02-27

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

An Arbitrator awards registered rep expungement of two customer complaints from his CRD record despite the objection of one customer.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Michael J. Ahlstrom, Esq.

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

  • Cs: (JRW) Peter S. Fruin & Jennifer M. Moore, Maynard Nexsen PC, Birmingham, AL.
  • Rs: (MLPFSInc) Katelyn H. Wilson, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp

MemberEmployee

Allegation I

BreachContract

Short Caption

Raymond James v. Tarbox

Allegation II

LoanDefault

Forum

FINRA

Allegation III

Docket No

23-02491

Products

PromissoryNote

Issue Date

2024-02-26

Situs

Chicago

State

IL

Clmd Compensatory

49.7

Total Amt Awarded

59.7

Compensatory Awarded

49.7

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 broker is held liable for the amounts due and owing pursuant to a previously executed settlement agreement relating to a promissory note she signed as part of her employment with Claimant broker-dealer.

Notes

Please Note* This matter proceeded pursuant to Rule 13800 of the Code.

Arbitrators

Raymond P. Buschmann, Esq.

Broker-Dealers Named

Raymond James & Associates Incorporated

Professionals

  • Cs: (RJ&AInc) Todd Ratner, Ratner Law, Richmond, VA. OSC.
  • Rs: (KAT) None.

TypeDisp

MemberCustomer

Allegation I

BreachContract

Short Caption

Hiive Markets v. Williams

Allegation II

UnjustEnrichment

Forum

FINRA

Allegation III

Docket No

23-03066

Products

Equity

Issue Date

2024-02-22

Situs

Chicago

State

IL

Clmd Compensatory

15.7

Total Amt Awarded

15.7

Compensatory Awarded

15.7

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 finds a non-appearing customer liable to Claimant broker-dealer for the amount due and owing relating to unpaid transaction fees in breach of a customer agreement she signed upon opening her account.

Notes

Please Note* This matter proceeded pursuant to Rule 12800 of the Code.

Arbitrators

Michael S. Matek, Esq.

Broker-Dealers Named

Hiive Markets Limited

Professionals

  • Cs: (HMLtd) Deanna L. Koestel & Marc M. Yenicag, Pashman Stein et al., New York, NY. OSC.
  • Rs: No-show.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Bobonis Roig v. Santander Securities

Allegation II

Forum

FINRA

Allegation III

Docket No

23-02936

Products

MuniSecs

Issue Date

2024-02-21

Situs

Boston

State

MA

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 (sisters) are each awarded expungement of one customer complaint each from their respective CRD records involving the purchase of Puerto Rican securities.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

John Francis Markuns

Broker-Dealers Named

Santander Securities LLC

Professionals

  • Cs: (CLBR & LEBR) David I. Hantman, Bressler Amery & Ross, New York, NY.
  • Rs: (SSLLC) Sara L. Velez Santiago, Pietrantonio Mendez & Alvarez LLC, San Juan, PR. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Labes v. Stifel Nicolaus

Allegation II

BreachContract

Forum

FINRA

Allegation III

Supervision

Docket No

22-01875

Products

Equity

Issue Date

2024-02-23

Situs

Detroit

State

MI

Clmd Compensatory

1843.1

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 customer (Individually and as Trustee of his Trust Account) alleging that Respondents wrongfully mismanaged his account by placing his entire portfolio in speculative stocks such as Jumia Technologies AG and Twitter loses his case.

Notes

All-Public Panel.

Arbitrators

Jeffry Mark Bauer, Esq. - Chair; John N. Polakas, Esq.; Michele Renee Zinn

Broker-Dealers Named

Stifel Nicolaus & Company Incorporated

Professionals

  • Cs: Christopher D. Kaye & Marc L. Newman & Brandon T. Goldstein, The Miller Law Firm, Rochester, MI.
  • Rs: (SN&CInc & LM) Edwin A. Zipf & Mark L. Kowalsky, Bressler Amery & Ross, Florham Park, NJ. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Leicht v. Ameriprise Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01383

Products

NP

Issue Date

2024-02-20

Situs

Jersey City

State

NJ

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.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Catherine Stewart, Esq.

Broker-Dealers Named

Ameriprise Financial Service LLC

Professionals

  • Cs: (AJL) Harris Freedman, HLBS Law, Broomfield, CO.
  • Rs: (AFSLLC) Howard M. Klausmeier, Troy, MI. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Wilson v. Wells Fargo

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01398

Products

Derivatives

Issue Date

2024-02-23

Situs

Jersey City

State

NJ

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 customer complaint from his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Veronica Ann Williams

Broker-Dealers Named

Wells Fargo Clearing Services LLC

Professionals

  • Cs: (AHW) Chelsea Bauer, HLBS Law, Broomfield, CO.
  • Rs: (WFCSLLC) Jason Kempf, Wells Fargo Legal Department, St. Louis, MO. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Medeck v. Millennium Securities

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01072

Products

NP

Issue Date

2024-02-21

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 wins expungement of one customer complaint from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Gerald M. Levine - Chair; Melinda George-Bristol; Jay F. Frascella

Broker-Dealers Named

Millennium Securities Corporation

Professionals

  • Cs: (KM) Craig A. Riha, Gusrae Kaplan Nusbaum PLLC, Melville, NY.
  • Rs: (MSCorp) No-show.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Malin v. M&T Securities

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

23-01329

Products

NP

Issue Date

2024-02-26

Situs

Buffalo

State

NY

Clmd Compensatory

0.0

Total Amt Awarded

Equity

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 awards Claimant broker reformation of his Form U5 record based on the defamatory nature of the entry.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Mark Alexander Sipper

Broker-Dealers Named

M&T Securities Incorporated

Professionals

  • Cs: (GTM) Harris Freedman & Owen Harnett, HLBS Law, Broomfield, CO.
  • Rs: (M&TSInc) Miriam Dowd, M&T Bank, Paramus, NJ. ISC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Blech v. Gilder Gagnon

Allegation II

Misreprestn

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

23-01355

Products

Equity

Issue Date

2024-02-23

Situs

New York

State

NY

Clmd Compensatory

900.0

Total Amt Awarded

Equity

Compensatory Awarded

Equity

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

After being notified that the customers settled their case against Respondent broker-dealer, a Panel grants four Non-Party brokers' requests for expungement of this matter from their respective CRD records. In awarding the four brokers expungement, the Panel found no evidence of fraud, breach of fiduciary duty, or unsuitable investments.

Notes

This is a Stipulated Award. Regulation Best Interest. Majority Public Panel. Arbitrator Remarks -- Expungement granted.

Arbitrators

Nancy Kramer - Chair; Ruth G. Kurtz, Esq.; Donald Nevin Gershuny

Broker-Dealers Named

Gilder Gagnon Howe & Company LLC

Professionals

  • Cs: Michael F. Bachner, Bachner & Associates, New York, NY.
  • Rs: (GGH&CLLC) Christopher J. Bouchoux & Denis Hurley, Wilmer Cutler et al., New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Savarick v. Morgan Stanley

Allegation II

Forum

FINRA

Allegation III

Docket No

23-02564

Products

Options

Issue Date

2024-02-23

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

An Arbitrator awards Claimant broker expungement of a customer complaint from appearing on his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Gerald M. Levine

Broker-Dealers Named

Morgan Stanley Smith Barney LLC

Professionals

  • Cs: (ES) Robert Moses, Lax & Neville, New York, NY.
  • Rs: (MSSBLLC) Brandy Fernandez, St. Petersburg, FL. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Epstein v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-03026

Products

Options

Issue Date

2024-02-29

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

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

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Susan Manca

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (AFE) David I. Hantman, Bressler Amery & Ross, New York, NY.
  • Rs: (UBSFSInc) Melissa J. Gworek, UBS Business Solutions US LLC, Nashville, TN. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Short v. AG Edwards

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01299

Products

DirectInvesmts; RealEstate

Issue Date

2024-03-01

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

Claimant broker is awarded expungement of two customer complaints from appearing on his CRD record involving a real estate transaction.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Thomas Benjamin Salzer, Esq.

Broker-Dealers Named

AG Edwards & Sons Incorporated

Professionals

  • Cs: (JWS) William R. Bean, HLBS Law, Westminster, CO.
  • Rs: (AGE&SInc) Jason Kempf, Wells Fargo Legal Department, St. Louis, MO. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Grandel v. LPL Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01882

Products

NP

Issue Date

2024-03-01

Situs

Pittsburgh

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

An Arbitrator grants a broker's request for expungement under all three Rule 2080 grounds despite the objection of the customer involved.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

John James McGovern, Jr., Esq.

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: (CLG) N. Nancy Ghabai, Ghabai Law Group LLC, Boston, MA.
  • Rs: (LPLFLLC) Matthew T. Bohenek, Boston, MA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Pou Monagas v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-00231

Products

MuniSecs; MutualFunds

Issue Date

2024-02-27

Situs

San Juan

State

PR

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 presents background information and material facts as to why he has decided to grant Claimant broker's request for expungement of a customer complaint from her CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Martin A. Feigenbaum, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (SPM) Sonia M. Lopez del Valle, McConnell Valdes LLC, San Juan, PR.
  • Rs: (UBSFSInc) Rey F. Medina-Velez, UBS Financial Services Incorporated of Puerto Rico, San Juan, PR. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Pou v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-00364

Products

MuniSecs

Issue Date

2024-02-20

Situs

San Juan

State

PR

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 awarded expungement of a customer complaint from appearing on his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Louis David Huss

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (CAP) Leslie Y. Flores-Rodriguez, McConnell Valdes LLC, San Juan, PR.
  • Rs: (UBSFSInc) Rey F. Medina-Velez, UBS Financial Services Incorporated of Puerto Rico, San Juan, PR. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Pou Monagas v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-00476

Products

MuniSecs

Issue Date

2024-02-29

Situs

San Juan

State

PR

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 registered representative is awarded her request for expungement of a customer complaint from her CRD record involving Puerto Rican securities.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Gerald Silverman, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (SPM) Sonia M. Lopez del Valle & Roberto C. Quinones-Rivera, McConnell Valdes LLC, San Juan, PR.
  • Rs: (UBSFSInc) Rey F. Medina-Velez, UBS Financial Services Incorporated of Puerto Rico, San Juan, PR. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Hernandez v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-00923

Products

MuniSecs; MutualFunds

Issue Date

2024-02-26

Situs

San Juan

State

PR

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 provides factual background and material facts as to why he has awarded Claimant broker expungement of five customer complaints from his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Martin A. Feigenbaum, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (MEH) Diego Melendez & Robert C. Quinones-Rivera, McConnell Valdes LLC, San Juan, PR.
  • Rs: (UBSFSInc) Rey F. Medina-Velez, UBS Financial Services Incorporated of Puerto Rico, San Juan, PR. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Rojas v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-00930

Products

MuniSecs

Issue Date

2024-03-01

Situs

San Juan

State

PR

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 a customer complaint from appearing on his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Barth Satuloff, CPA

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (DLR) Sonia M. Lopez del Valle, McConnell Valdes LLC, San Juan, PR.
  • Rs: (UBSFSInc) Rey F. Medina-Velez, UBS Financial Services Incorporated of Puerto Rico, San Juan, PR. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Lopez Juarbe v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-00961

Products

MuniSecs

Issue Date

2024-02-23

Situs

San Juan

State

PR

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 wins expungement of six customer complaints from appearing on his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Stuart K. Furman

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (FALJ) Robert C. Quinones-Rivera & Gabriela A. Perez-Velez, McConnell Valdes LLC, San Juan, PR.
  • Rs: (UBSFSInc) Rey F. Medina-Velez, UBS Financial Services Incorporated of Puerto Rico, San Juan, PR. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Harris v. MML Investors

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01308

Products

NP

Issue Date

2024-02-29

Situs

Dallas

State

TX

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 has granted Claimant broker's request for expungement of two customer complaints from his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Eric Ross Cromartie

Broker-Dealers Named

MML Investors Services LLC; Cambridge Investment Research Incorporated

Professionals

  • Cs: (CDH) Peter Lindholm & Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (MMLISLLC) Julie E. Ravis, Stevens & Lee, Reading, PA. OSC.
  • Rs: (CIRInc) Jeannette E. Dennis, Fairfield, IA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Langhorst v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01420

Products

NP

Issue Date

2024-02-27

Situs

Dallas

State

TX

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 each awarded expungement of a customer complaint from appearing on their respective CRD records.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Thomas W. Allen - Chair; Donald Gene Miller; Richard C. Corse

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (MTL & RDH) Bryon L. Romine, Kessler Collins PC, Dallas, TX.
  • Rs: (UBSFSInc) John Murphy, J. Murphy & Associates, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Allen v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-02777

Products

Equity; Commodities; Margin

Issue Date

2024-02-29

Situs

Houston

State

TX

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 wins expungement of a complaint, involving the purchase of Royalty Trust Stocks, from his CRD despite the objection of the the customer.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

G. Maynard Green, JD

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (DMA) Randi Perry Spallina, Bressler Amery & Ross, New York, NY.
  • Rs: (UBSFSInc) Melissa J. Gworek, UBS Business Solutions US LLC, Nashville, TN. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Dawson v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-03042

Products

NP

Issue Date

2024-03-01

Situs

Houston

State

TX

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 awarded expungement of a customer complaint from his CRD record over the objection of said customer.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

G. Maynard Green, JD

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (MCD) Karl L. Marquardt, Bressler Amery & Ross, Florham Park, NJ.
  • Rs: (UBSFSInc) Melissa J. Gworek, UBS Business Solutions US LLC, Nashville, TN. ISC.

TypeDisp

SmallClms

Allegation I

FailToObey

Short Caption

Wright v. E*Trade Securities

Allegation II

Operations

Forum

FINRA

Allegation III

Docket No

23-03106

Products

NP

Issue Date

2024-03-01

Situs

Dallas

State

TX

Clmd Compensatory

2.0

Total Amt Awarded

0.0

Compensatory Awarded

0.0

Punitive Damage Awarded

0.0

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 that Respondents did not allow her to move her account to another member firm loses her case.

Notes

Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing.

Arbitrators

Douglas Wade Carvell

Broker-Dealers Named

E*Trade Securities LLC; Morgan Stanley

Professionals

  • Cs: Todd A. Green, Attorney-at-Law, Galena, OH.
  • Rs: (ETSLLC & MSSBLLC) John E. Bersin, E*Trade Securities LLC, Roseville, CA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Byerly v. QA3 Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01379

Products

PrivSecTrans

Issue Date

2024-03-01

Situs

Richmond

State

VA

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 provides factual detail regarding his awarding of expungement to Claimant broker.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Richard James Igou

Broker-Dealers Named

QA3 Financial Corporation

Professionals

  • Cs: (JTB) Dochtor Kennedy, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (QA3FCorp) Stephen K. Wild, Omaha, NE. ISC.
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