* 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 is granted specific performance relating to its allegations that Respondent broker-dealer and broker breached the parties' Client Agreement by reversing a journal entry transferring $650,000 from non-parties Mr. and Mrs. V's TD Ameritrade account to Claimant's account.
Notes
Rs Jeremy Daniel Steinle was dismissed from this case pursuant to FINRA Rule 12504. The case solely proceeded against TD Ameritrade Clearing. Pre-Hearing Adjudication -- Party Dismissal. All-Public Panel. Arbitrator Remarks.
People & Entities
Arbitrators
Joseph Neal Richardson - Chair; Mary Elizabeth Skelnik; Sheldon Weinhaus
Broker-Dealers Named
TD Ameritrade Clearing Incorporated
Professionals
Cs: John W. Townshend, Fort Smith, AR.
Rs: (JDS & TDACInc) Alison M. Gutierrez, Kutak Rock LLP, Omaha, NE. 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 alleging wrongful termination and seeking compensation settles his claims against Respondent broker-dealer. Claimant broker is also awarded reformation of his Form U-5 record.
Notes
This is a Stipulated Award. Arbitrator Remarks -- Reformation U-5 granted.
Arbitrators
Mary M. O'Neil - Chair; Marc Kalish, JD; Holly A. Hart
Broker-Dealers Named
Charles Schwab & Company Incorporated
Professionals
Cs: (COA) Joshua B. Kons, Law Offices of J.B. Kons, Weatogue, CT.
Rs: (CS&CInc) Eric Dowell, Ogletree Deakins et al., Phoenix, AZ. 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 voluntarily withdraws his claims against one named Respondent broker-dealer without prejudice pursuant to Rule 12702(a) and loses his remaining claims against the other named Respondents. The customer's claims involved Exchange Traded Funds. Respondent broker is awarded expungement of this matter from his CRD record.
* 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 why he has denied Claimant broker-dealer's request for the amounts due and owing on two promissory notes from Respondent broker.
Notes
Arbitrator Remarks.
Arbitrators
Patrick Richard Westerkamp, Esq.
Broker-Dealers Named
Wells Fargo Advisors Financial Network
Professionals
Cs: (WFAFNtwk) Jonathan A. Scobie, Stevens & Lee, Lawrenceville, NJ. OSC.
Rs: (JTN) Dennis C. Carter, Carter & Doyle, Wellesley Hills, MA.
* 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 causes of action relate to Cs allegation that her financial advisor, who was registered with Interactive Brokers, and an unregistered investment advisor engaged in a scheme that resulted in Cs suffering significant financial loss caused by aggressive, excessive and speculative trading in her account with Interactive Brokers.
Notes
None.
Arbitrators
Langfred W. White, Esq.
Broker-Dealers Named
Interactive Brokers LLC; Securities America Incorporated
Professionals
Cs: Teresa J. Verges & Taylor Bandy & Theodore O'Brien & Brooke Nelson, University of Miami School of Law Investor Rights Clinic, Coral Gables, FL.
Rs: (IBLLC) Carlos E. Provencio & Mark G. Materna, Washington, DC. ISC.
Rs: (SAInc) Chad Weaver, Freeman Mathis & Gary, Seal Beach, 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
One group of the named customers settle their claims with Respondent broker-dealer, while the remaining customers are awarded over $2.9 million in compensatory damages and $165,000 in various costs relating to their investments in gas and oil limited partnerships and unit investment trusts. Respondent broker is found not liable to said customers and is granted expungement of this matter from his CRD record.
Notes
Big $s. Rs Thomas Whitmeyer O'Brien was not assessed any portion of the awarded amount. Rs Raymond James & Associates Inc. was assessed. All-Public Panel. Arbitrator Remarks -- Expungement granted. According to BrokerCheck 6 of 40 Cs settled for $269,000.
Arbitrators
John P. Cullem, Esq. - Chair; Langfred W. White, Esq.; Stuart K. Furman
Broker-Dealers Named
Raymond James & Associates Incorporated
Professionals
Cs: Frank Kim Breese III, Breese Law Office, Ridgeland, MS.
Rs: (RJ&AInc & TWO) Stephen H. Kupperman & George C. Freeman III, Barraso Usdin et al., New Orleans, LA. 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 granted reformation of defamatory information from his Form U-5 record but is denied expungement of two customer complaints from his CRD record.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Jeffry Mark Bauer, Esq.
Broker-Dealers Named
Oppenheimer & Company Incorporated; UBS Financial Services Incorporated
Professionals
Cs: (BJR) Audette Paul Morales & Rachel A. Weitzman, Gordon Rees et al., Irvine, CA.
Rs: (O&CInc) John T. McGuire, New York, NY. ISC.
Rs: (UBSFSInc) Igor V. Stadnik, Keesal Young & Logan, Seattle, WA. 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 $4.1 million in damages on his compensation claim and is granted reformation of his Form U-5 record. Respondent broker-dealer loses its Counterclaim for breach of duty of loyalty.
Notes
Big $s. Arbitrator Remarks -- Reformation U-5 granted.
Arbitrators
Daniel Robbins, Esq. - Chair; Richard Gee; Michael J. McAllister, Sr.
Broker-Dealers Named
Citigroup Global Markets Incorporated; Citibank NA
Professionals
Cs: (AMD) Jonathan Sack, Sack & Sack, New York, NY.
Rs: (CBnkNA & CGMInc) Joseph Baumgarten, Proskauer Rose LLP, 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
A customer settles her claims against Respondent broker-dealer involving her investment in a Prudential variable annuity. Non-party broker is awarded expungement of this matter from her CRD record.
Notes
This is a Stipulated Award. All-Public Panel. Arbitrator Remarks -- Expungement granted. According to BrokerCheck, the claims were settled for $14,000.
Arbitrators
John C. Aten - Chair; William Joseph Caprathe; Gary E. Vickers
Broker-Dealers Named
Merrill Lynch Pierce Fenner & Smith Incorporated
Professionals
Cs: Jason J. Kane, Peiffer Wolf et al., Pittsford, NY.
Rs: (MLPFSInc) Robert E. Goldberg, Bressler Amery & Ross, 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 five customer complaints from his CRD record but is also held liable to Respondent broker-dealer for $50,000 on the Counterclaim.
* 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
Three customers alleging excessive trading, among other things, settle their claims against Respondent broker-dealer and two brokers. One Respondent broker is award expungement of this matter from his CRD record.
Notes
This is a Stipulated Award. Arbitrator Remarks -- Expungement granted.
Arbitrators
Donald S. Bauman, Esq.
Broker-Dealers Named
Ameriprise Financial Services Incorporated
Professionals
Cs: Christopher B. Jones, C.B. Jones PC, Scranton, PA.
* 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 settled customer arbitrations stemming from the customers' investments in allegedly unsuitable Puerto Rico closed-end funds.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Louis David Huss
Broker-Dealers Named
UBS Financial Services Incorporated of Puerto Rico; UBS Financial Services Incorporated
Professionals
Cs: (GAM) Linette Figueroa-Torres & Viviana Gonzalez-Irizarry, Toro Colon Mullet PSC, San Juan, PR.
Rs: (UBSFSInc & UBSFSIncPR) Sonia M. Lopez del Valle & Roberto Quinones, McConnell Valdes LLC, 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
Claimant broker is granted expungement of a previously settled arbitration from his CRD record stemming from a customer's investments in Puerto Rico closed-end funds.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Martin A. Feigenbaum, Esq.
Broker-Dealers Named
UBS Financial Services Incorporated of Puerto Rico; UBS Financial Services Incorporated
Professionals
Cs: (RE) Linette Figueroa-Torres & Russell Del Toro III, Toro Colon Mullet PSC, San Juan, PR.
Rs: (UBFSInc & UBSFSIncPR) Leslie Flores & Roberto Quinones-Rivera, McConnell Valdes LLC, 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
An All-Public Panel holds Respondent broker-dealer liable to a customer for compensatory damages and attorney fees pursuant to T.C.A. § 48-2-122. The causes of action relate to Rs selling Cs Yahoo Inc. stock and Cs investment in stock in other unspecified companies.
Notes
All-Public Panel. Arbitrator Remarks.
Arbitrators
Thomas Joseph Atkinson, Sr., JD - Chair; Stephen Earl Clark; Richard Manuel Barcia
Broker-Dealers Named
Woodstock Financial Group Incorporated
Professionals
Cs: Jonathan E. Neuman, Law Offices of J.E. Neuman, Fresh Meadows, NY.
Rs: (WFGInc) Scott Holcomb, Holcomb & Ward, Atlanta, GA. 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 and customer estate alleging failure to provide them with a reliable means of notice that the Lincoln National Life Insurance Company Policy terminated due to non-payment, lose their claim against Respondent broker-dealer.
Notes
Majority Public Panel.
Arbitrators
Thomas R. Dreiling, Esq. - Chair; Katherine L. Sidener; Andrew Robert Thibeault, Jr.
Broker-Dealers Named
Sunset Financial Services Incorporated
Professionals
Cs: Felix Luna & Tomas Gahan, Peterson Wampold et al., Seattle, WA.
* 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 why he has granted two Claimant brokers' requests for expungement of various customer complaints and FINRA arbitration cases from their respective CRD records.
Cs: (MLA & BJL) John A. Bender, Ryan Swanson & Cleveland, Seattle, WA.
Rs: (GWMInc) Victoria H. Buter, Kutak Rock LLP, Omaha, NE. OSC.
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