* 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 three customer complaints from appearing on his CRD record despite the objections of one said customer involved and the authorized representative of the state securities regulator for California.
Notes
Arbitrator Remarks -- Expungement granted.
People & Entities
Arbitrators
Steven Gerard Goerke, Esq. - Chair; William E. Nuckel; George Pinckney Shingler
Broker-Dealers Named
LightPath Capital Incorporated
Professionals
Cs: (PMG) Peter Lindholm, HLBS Law, Broomfield, CO.
* 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 explains why it has unanimously decided to deny a broker's request for expungement of a complaint from his CRD record after finding that the record is insufficient to show that the challenged customer complaint is clearly erroneous or false or that said broker had nothing to do with the transaction.
Notes
Arbitrator Remarks -- Explained Award.
Arbitrators
Geoffrey A. Drucker - Chair; Leon Fox, JD; Thomas R. Dreiling, Esq.
Broker-Dealers Named
OSAIC Wealth Incorporated
Professionals
Cs: (WCS) John Cataldo, D'Ambrosio LLP, Boston, 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
In this small claims arbitration, a customer alleging that after a third party gained access to his account (via his stolen phone) an unauthorized transfer occurred involving $20,000 in cash and cryptocurrency loses his case against Respondent broker-dealer.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing.
Arbitrators
Carl Henry Perdue
Broker-Dealers Named
Robinhood Financial LLC
Professionals
Cs: Pro se.
Rs: (RFLLC) Simeon M. Schopf, Washington, DC. 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 awards a broker reformation of her Form U5 record after finding that the information contained in it portrays said broker in a negative light and is defamatory in nature.
* 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 a dispute occurred through a secure email he sent to Respondent broker-dealer after he voiced concerns about his account's AGNC Investment Corporation reinvested dividends loses his case against Respondents.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing.
Arbitrators
Jeffrey Alperin
Broker-Dealers Named
T Rowe Price Investment Services Incorporated
Professionals
Cs: Pro se.
Rs: (TRPISInc, JSL & MY) Daniel J. Donovan, Donovan & Rainie LLC, Ellicott City, MD. 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 non-appearing broker is held liable for the amounts due and owing on a Term Loan Promissory Note that became immediately payable to Claimant upon his termination from member firm LPL Financial.
Notes
Arbitrator Remarks.
Arbitrators
Ilene T. Gormly, Esq.
Broker-Dealers Named
Central National Bank
Professionals
Cs: (CNBnk) Bruce W. Barnes, B.W. Barnes PA, Safety Harbor, FL.
Rs: (SEW) None. Previously represented by counsel until 1/30/26.
* 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 her request for expungement of a customer complaint from her CRD record with prejudice as the Panel's decision to award said relief was not unanimous with the Panel Chair finding that one or more grounds for expungement under Rule 13805 of the Code was established, while the other two named Arbitrators did not make such a finding.
Notes
Arbitrator Remarks -- Arbitrator dissents with explanation.
Arbitrators
Fern M. Laethem (Dissents) - Chair; Jane C. Carney, CPA; Edward W. Morris, Jr., Esq.
* 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 awarded damages from one named Respondent broker-dealer and registered representative relating to her allegation that without her permission Respondent registered representative placed her in risky and speculative investments. One named broker is awarded expungement of this matter from her CRD record despite the objection of the customer.
Notes
Rs Stifel Independent Advisors LLC and Michelle Christen Stebbins were not assessed any portion of the awarded amount. Rs Stifel Nicolaus & Company Inc. and Loren Justin Morrison were assessed. Directed Verdict -- Party Dismissal. All-Public Panel. Arbitrator Remarks -- Expungement granted.
Arbitrators
Tracy L. Allen, Esq. - Chair; James Arthur Abron, Jr.; William Napoleone
Broker-Dealers Named
Stifel Nicolaus & Company Incorporated; Stifel Independent Advisors LLC
Professionals
Cs: Peter C. Rageas, Law Offices of P.C. Rageas, Royal Oak, MI.
Rs: (SN&CInc, SIALLC, MCS & LJM) Edwin A. Zipf & Mark Kowalsky, Bressler Amery & Ross, Florham Park, NJ. 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 fraud took place when Respondent broker-dealer allowed unauthorized transfers from her checking and securities accounts to take place is awarded damages.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code under the Special Proceeding option.
* 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 Respondents Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 12206(a) (Six-year Eligibility Rule) after finding that more than twelve years had passed since the last transaction occurred in Claimant's account. The claim stems from the customer's allegation that various unauthorized withdrawals where taken from her retirement account to be subsequently placed into another bank account.
Notes
Pre-Hearing Adjudication -- Full Dismissal. Arbitrator Remarks.
Arbitrators
Jeffrey M. Bain, Esq.
Broker-Dealers Named
Edward D Jones & Company Limited Partnership
Professionals
Cs: Pro se.
Rs: (EDJ&CLP, JKC, BTI & WCK) Philip J. Mackey, Lewis Rice PC, 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
A broker is awarded expungement of a customer complaint from her CRD record after the Panel found the complaint to be clearly erroneous and false under FINRA Rule 2080.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Hon. Michael S. Jordan - Chair; Joseph V. Simeri, JD; Karen Roberts Washington, Esq. (fka Karen Colleen Washington, Esq.)
* 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 registered representative's request for expungement of a customer complaint from appearing on her CRD record despite the objection of said customer involved.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Mitchell Regenbogen - Chair; Douglas J. Nesbit; Barbara Black, Esq.
Broker-Dealers Named
UBS Financial Services Incorporated
Professionals
Cs: (MDH) David I. Hantman, Bressler Amery & Ross, New York, NY.
Rs: (UBSFSInc) Omar Perez, UBS Business Solutions US LLC, Nashville, TN. ISC.
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