UPDATE: ARBchek

Dispute Information

Damages*

TypeDisp EmployeeMember				Allegation I Reformation(U-5)
Short Caption Ferguson v. Vanguard Marketing				Allegation II Defamation
Forum FINRA				Allegation III WrongTerm
Docket No		18-03073		Products NP
Issue Date		2019-03-25
Situs	Phoenix	State	AZ

Clmd Compensatory	Equity
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

An Arbitrator explains his decision in denying Claimant broker's request for Reformation of his Form U-5 record after reviewing the evidence presented and said broker's failure to appear at the hearing.

Notes

Arbitrator Remarks -- Explained Award.

People & Entities

Arbitrators

Merton E. Marks, Esq.

Broker-Dealers Named

Vanguard Marketing Corporation

Professionals

Cs: (WDF) None.
Rs: (VMCorp) Elizabeth H. Lindh, Keesal Young & Logan, Long Beach, CA. OSC.

TypeDisp CustomerMember				Allegation I Negligence
Short Caption Wright v. Ameriprise Financial				Allegation II
Forum FINRA				Allegation III
Docket No		17-02237		Products Annuities
Issue Date		2019-03-27
Situs	Los Angeles	State	CA

Clmd Compensatory	70.0
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

An Arbitrator denies customer trust's claims relating to alleged incorrect tax advice regarding the sale of securities to realize losses to balance taxable gains from the sale of two Allstate Life Insurance Annuities.

Notes

None.

Arbitrators

Barbara M. Zak, Esq.

Broker-Dealers Named

Ameriprise Financial Services Incorporated

Professionals

Cs: Pro se through Robert T. Wright, Reno, NV.
Rs: (AFSInc) Edward Walton, Troy, MI. ISC.

TypeDisp EmployeeMember				Allegation I Expungement(CRD)
Short Caption Aizin v. Syndicated Capital				Allegation II
Forum FINRA				Allegation III
Docket No		18-02423		Products VariableAnnuities
Issue Date		2019-03-28
Situs	Los Angeles	State	CA

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 registered representative wins expungement of two customer complaints from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Robert D. Sussin, Esq.

Broker-Dealers Named

Syndicated Capital Incorporated

Professionals

Cs: (AAA) Tosh D. Grebenik, FA Expungement LLC, Denver, CO.
Rs: (SCInc) Katherine P. Lee, KPL Law Group, Pasadena, CA. OSC.

TypeDisp EmployeeMember				Allegation I Compensatn
Short Caption Elder v. Morgan Stanley				Allegation II BreachContract
Forum FINRA				Allegation III Defamation
Docket No		18-00180		Products NP
Issue Date		2019-03-28
Situs	Washington	State	DC

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

Claimant broker alleging severe emotional distress and seeking compensation along with expungement of her Form U-5 record against Respondent broker-dealer are denied. The Panel describes in detail why they denied Claimant's defamation claim.

Notes

Arbitrator Remarks.

Arbitrators

Shelley Simons Korch - Chair; Barbara Davis Solomon, Esq.; Bonnie K. Wachtel, Esq.

Broker-Dealers Named

Morgan Stanley

Professionals

Cs: (DLE) Stephen C. Leckar & Spencer O'Dwyer, Kalbian Hagerty LLP, Washington, DC.
Rs: (MSSBLLC) Marilyn Ginger McCauley & Michael Murphy, Ogletree Deakins et al., Washington, DC. OSC.

TypeDisp SmallClms				Allegation I Suitability
Short Caption Portugal v. Arete Wealth				Allegation II Supervision
Forum FINRA				Allegation III Negligence
Docket No		18-02884		Products DirectInvesmts
Issue Date		2019-03-27
Situs	Washington	State	DC

Clmd Compensatory	26.5
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 grants Respondents Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 12206 (Six-year Eligibility Rule) and provides a lengthy explanation behind his dismissal of the customer's claims.

Notes

Pre-Hearing Adjudication -- Full Dismissal. Arbitrator Remarks -- Explained Award.

Arbitrators

Matthew Stephen Duchesne

Broker-Dealers Named

Arete Wealth Management LLC

Professionals

Cs: Pro se.
Rs: (AWMLLC & RAL) UnBo (Bob) Chung, General Counsel, Chicago, IL. ISC.

TypeDisp EmployeeMember				Allegation I Reformation(U-5)
Short Caption Gambone v. Pruco Securities				Allegation II Defamation
Forum FINRA				Allegation III
Docket No		18-03361		Products NP
Issue Date		2019-03-26
Situs	Wilmington	State	DE

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 broker is granted Reformation of his Form U-5 record.

Notes

Panel composition issue. Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

John James McGovern, Jr., Esq.

Broker-Dealers Named

Pruco Securities LLC

Professionals

Cs: (AMG) None.
Rs: (PSLLC) Alan S. Brodherson, Law Offices of A.S. Brodherson, New York, NY. OSC.

TypeDisp MemberEmployee				Allegation I LoanDefault
Short Caption UBS Financial v. Walzer				Allegation II BreachContract
Forum FINRA				Allegation III
Docket No		16-00888		Products PromissoryNote
Issue Date		2019-03-27
Situs	Boca Raton	State	FL

Clmd Compensatory	791.3
Total Amt Awarded	892.0
Compensatory Awarded	791.3
Punitive Damage Awarded
Attorney Fees Awarded	57.1
* 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 big dollar award, Respondent broker is held liable to Claimant broker-dealers for the amounts due and owing on seven promissory notes he executed as part of his employment with said Claimants. Respondent broker's Counterclaim was severed from this case.

Notes

Big $s. Severance.

Arbitrators

Marie G. Peterson, CPA - Chair; Nanci Sondra Landy; Hector Valdes-Ortiz

Broker-Dealers Named

UBS Credit Corporation; UBS Financial Services Incorporated

Professionals

Cs: (UBSFSInc & UBSCCorp) James L. Komie, Howard & Howard, Chicago, IL. OSC.
Rs: (HW) Arthur C. Koski, Law Office of A.C. Koski, Boca Raton, FL.

TypeDisp EmployeeMember				Allegation I Expungement(CRD)
Short Caption Thomas v. Raymond James				Allegation II
Forum FINRA				Allegation III
Docket No		18-01984		Products Equity; VariableAnnuities; Margin
Issue Date		2019-03-27
Situs	Tampa	State	FL

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

Claimant broker is awarded expungement relief with respect to five customer complaints appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Martin M. Van Luven

Broker-Dealers Named

Raymond James & Associates Incorporated

Professionals

Cs: (BWT) Eric Litow & Owen Harnett, HLBS Law, Westminster, CO.
Rs: (RJ&AInc) Stanton A. Fears, St. Petersburg, FL. ISC.

TypeDisp EmployeeMember				Allegation I Expungement(CRD)
Short Caption Maller v. Banc of America				Allegation II
Forum FINRA				Allegation III
Docket No		18-02999		Products PrivSecTrans
Issue Date		2019-03-26
Situs	Boca Raton	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

A broker wins expungement of two customer complaints from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Steven Gerard Goerke, Esq. - Chair; Barry David Thorpe (fka Barry K. Thorpe, Esq.); Howard L. Conklin, Esq.

Broker-Dealers Named

Banc of America Investment Services Incorporated

Professionals

Cs: (MRM) Jonathan D. Kaney III, J.D. Kaney III, Ormond Beach, FL.
Rs: (BAISInc) Joel M. Everest, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp EmployeeMember				Allegation I Expungement(CRD)
Short Caption Fish v. Merrill Lynch				Allegation II
Forum FINRA				Allegation III
Docket No		18-02776		Products MuniSecs
Issue Date		2019-03-28
Situs	Indianapolis	State	IN

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 a broker expungement of a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

William M. Getzoff, Esq.

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

Cs: (MAF) Dochtor Kennedy & Harris Friedman, AdvisorLaw LLC, Westminster, CO.
Rs: (MLPFSInc) Sarah K. Yates, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp EmployeeMember				Allegation I Expungement(CRD)
Short Caption Beck v. GWN Securities				Allegation II
Forum FINRA				Allegation III
Docket No		18-00961		Products Annuities
Issue Date		2019-03-26
Situs	Baltimore	State	MD

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 offers a lengthy explanation as to why she awarded Claimant broker expungement of a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted. Explained Award.

Arbitrators

Brenda J. Stovall, Esq.

Broker-Dealers Named

GWN Securities Incorporated

Professionals

Cs: (JEB) Dochtor Kennedy & Erica Harris, AdvisorLaw LLC, Westminster, CO.
Rs: (GWNSInc) Kathy M. Klock & Laura Bornheimer, Akerman LLP, West Palm Beach, FL. OSC.

TypeDisp CustomerMember				Allegation I Misappropriatn
Short Caption Foster v. Hantz Financial				Allegation II Fraud
Forum FINRA				Allegation III Forgery
Docket No		14-01700		Products VariableAnnuities; LifeInsurance
Issue Date		2019-03-28
Situs	Detroit	State	MI

Clmd Compensatory	3471.8
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 alleging fraud and forgery, among other things, loses his claims against Respondent broker-dealer and broker. The causes of action relate to the customer's allegations that not only were his signatures forgeries but that Respondent broker and his ex-wife looted claimant's joint accounts by transferring the money to accounts held by his ex-wife and third parties out of his reach. Respondents lose their Counterclaim.

Notes

Panel composition issue. All-Public Panel.

Arbitrators

William Joseph Caprathe - Chair; Mauricio Kohn; John Wendell Allen

Broker-Dealers Named

Hantz Financial Services Incorporated

Professionals

Cs: Pro se.
Rs: (HFSInc & TG) David J. Shea & Ashley D. Shea, Shea Aiello & Doxsie, Southfield, MI. OSC.

TypeDisp EmployeeMember				Allegation I Expungement(CRD)
Short Caption Netkin v. Morgan Stanley				Allegation II
Forum FINRA				Allegation III
Docket No		18-02192		Products Equity
Issue Date		2019-03-27
Situs	Newark	State	NJ

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 expungement of three customer complaints from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Abraham Harry Bunis, Esq.

Broker-Dealers Named

Atlantic Group Securities Incorporated; Morgan Stanley DW Incorporated

Professionals

Cs: (DPN) Louis H. Miron, Attorney-at-Law, Cranford, NJ.
Rs: (MSDWInc) Abigail D. Elrod, Morgan Stanley Wealth Management, New York, NY. OSC.
Rs: (AGSInc) John Sabo, Millburn, NJ. ISC.

TypeDisp EmployeeMember				Allegation I Reformation(U-5)
Short Caption Schwendiman v. Alternative Asset				Allegation II Defamation
Forum FINRA				Allegation III Compensatn
Docket No		17-00441		Products NP
Issue Date		2019-03-28
Situs	New York	State	NY

Clmd Compensatory	144.6
Total Amt Awarded	144.6
Compensatory Awarded	144.6
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 prevails on his compensation and defamation claims and is awarded compensatory damages and Reformation of his Form U-5 record.

Notes

Panel composition issue. Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Cheryl H. Agris, PhD - Chair; Lawrence Williams; Emily Bab Kirsch

Broker-Dealers Named

Alternative Asset Investment Management Securities LLC

Professionals

Cs: (TGS) None.
Rs: (AAIMSLLC) Victor Park, New York, NY. ISC.

TypeDisp MemberEmployee				Allegation I LoanDefault
Short Caption Windsor Street v. Jin				Allegation II BreachContract
Forum FINRA				Allegation III UnjustEnrichment
Docket No		17-01716		Products PromissoryNote
Issue Date		2019-03-25
Situs	New York	State	NY

Clmd Compensatory	717.0
Total Amt Awarded	348.8
Compensatory Awarded	348.8
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

Nine brokers are held liable to Claimant broker-dealer for the amounts due and owing on their respective promissory notes. The broker-dealer's claims against the remaining name brokers were either voluntarily dismissed, settled, stayed by bankruptcy or denied.

Notes

Rs Ronald Large, Joshua Ciliano, Craig Taddonio and Maxwell Delaney were not assessed any portion of the awarded amount. Rs Barry Jin, Michael LaVolpe, William Leonard, Joseph Valenti, Matthew Deblois, Charles Giaimo, Brent Porges, Matthew Siliato and David Sheppard were assessed. Sanctions imposed. PHL -- Involves bankruptcy stay.

Arbitrators

Sanford S. Stevens, Esq. - Chair; Ann C. Northern, Esq.; Donald Nevin Gershuny

Broker-Dealers Named

Windsor Street Capital Limited Partnership fka Meyers Associates Limited Partnership

Professionals

Cs: (WSCLP) David A. Schrader, PKA Law, New York, NY. OSC.
Rs: (JC) Jerome A. Selvers, Sonnenblick Parker & Selvers, Freehold, NJ.
Rs: (JV) M. David Sayid, Sayid & Associates, New York, NY.
Rs: (RL) Anthony C. Varbero, Joseph Mure Jr. & Associates, Brooklyn, NY.
Rs: (BJ, ML, WL, MD, MD, CG, BP, MS, DS & CT) None.

TypeDisp CustomerMember				Allegation I Misreprestn
Short Caption Lawlor v. Merrill Lynch				Allegation II Suitability
Forum FINRA				Allegation III Supervision
Docket No		17-02860		Products EqOptions
Issue Date		2019-03-25
Situs	New York	State	NY

Clmd Compensatory	4000.0
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

The Panel grants Respondent broker-dealer's Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 12206 (Six-year Eligibility Rule).

Notes

Pre-Hearing Adjudication -- Full Dismissal. Majority Public Panel. Arbitrator Remarks.

Arbitrators

Susan A. Romano - Chair; William H. Morley, Jr.; Jon Martino

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

Cs: Paul W. Thomas, Thomas Law Group PC, Carlsbad, CA.
Rs: (MLPFSInc) Jacqueline R. Meyers, Bressler Amery & Ross, Florham Park, NJ. OSC.

TypeDisp CustomerNonMember				Allegation I Suitability
Short Caption Schlosser v. Clayborne Group				Allegation II Supervision
Forum FINRA				Allegation III Negligence
Docket No		18-00227		Products DirectInvesmts
Issue Date		2019-03-28
Situs	Albany	State	NY

Clmd Compensatory	300.0
Total Amt Awarded	250.0
Compensatory Awarded	250.0
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

An Investment Adviser firm and Investment Adviser are held jointly and severally liable to Claimant relating to her investment in a private placement in CG Income Fund LLC. The Panel denied said Respondents Counterclaim.

Notes

All-Public Panel.

Arbitrators

Ira A. Auerbach - Chair; Kenneth R. Hotopp; Michael Jaffe, Esq.

Broker-Dealers Named

Clayborne Group LLC

Professionals

Cs: Kelly Pressler, Jacobowitz & Gubits, Walden, NY.
Rs: (CGLLC & DAH) David R. Wise, Mackey Butts & Wise, Poughkeepsie, NY. OSC.

TypeDisp EmployeeMember				Allegation I Expungement(CRD)
Short Caption Gazder v. Ameriprise Financial				Allegation II
Forum FINRA				Allegation III
Docket No		18-02399		Products UITs; MutualFunds
Issue Date		2019-03-26
Situs	Cincinnati	State	OH

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 is awarded expungement relief of a customer complaint appearing on his CRD record involving Unit Investment Trusts and Mutual Funds.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Michael J. Meeusen, Esq.

Broker-Dealers Named

Ameriprise Financial Services Incorporated

Professionals

Cs: (JDG) Jonathan M. Sterling, Saretsky Hart et al., Birmingham, MI.
Rs: (AFSInc) Howard Klausmeier, Minneapolis, MN. ISC.

TypeDisp SmallClms				Allegation I Negligence
Short Caption Moultrie v. US Bancorp				Allegation II
Forum FINRA				Allegation III
Docket No		18-02578		Products VariableAnnuities
Issue Date		2019-03-27
Situs	PP	State	PP

Clmd Compensatory	28.0
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

A customer loses his claim relating to his allegation that Respondent incorrectly made monthly rather than annual withdrawals of the amount designated on his variable annuity withdrawal request, which resulted in tax liabilities to Claimant.

Notes

None.

Arbitrators

James J. Stamos, Esq.

Broker-Dealers Named

US Bancorp Investments Incorporated

Professionals

Cs: Pro se.
Rs: (USBIInc) John Rock, Rock Hutchinson PLLP, Minneapolis, MN. OSC.

TypeDisp EmployeeMember				Allegation I Compensatn
Short Caption Dinkin v. Broker Dealer Financial				Allegation II BreachContract
Forum FINRA				Allegation III Misreprestn
Docket No		18-02971		Products NP
Issue Date		2019-03-27
Situs	PP	State	PP

Clmd Compensatory	4.0
Total Amt Awarded	0.6
Compensatory Awarded	0.6
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

Respondent broker-dealer is held solely liable to Claimant broker for amounts due pursuant to the terms of the Registered Representative Independent Contract Agreement. The broker's claims against the Individual named Respondent brokers were denied. Respondent broker-dealer's Counterclaim for compensation is denied.

Notes

Rs Robert Donald Sherwood, Thomas Edward Sherzan and Lisa Marie Smith were not assessed any portion of the awarded amount. Rs Broker Dealer Financial Services Corporation was assessed.

Arbitrators

Michael J. Meeusen, Esq.

Broker-Dealers Named

Broker Dealer Financial Services Corporation

Professionals

Cs: (ALD) None.
Rs: (BDFSCorp) Michael Sherzan, West Des Moines, IA. ISC.
Rs: (RDS, TES & LMS) None.

TypeDisp CustomerMember				Allegation I Misreprestn
Short Caption Navedo v. UBS Financial				Allegation II Supervision
Forum FINRA				Allegation III Negligence
Docket No		17-01818		Products MuniSecs
Issue Date		2019-03-27
Situs	San Juan	State	PR

Clmd Compensatory	615.0
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 settle their claims with Respondent broker-dealers and broker relating to their investments in closed-end Puerto Rico bond funds. Respondent broker is awarded expungement relief.

Notes

This is a Stipulated Award. Rescission Requested. Majority Public Panel. Arbitrator Remarks -- Expungement granted.

Arbitrators

Larry E. Ray, Esq.; - Chair; Dana Tait Sandlin; Rex D.K. Seymour

Broker-Dealers Named

UBS Asset Managers of Puerto Rico; UBS Trust Company of Puerto Rico; UBS Financial Services Incorporated of Puerto Rico; UBS Financial Services Incorporated

Professionals

Cs: Anibal A. Lugo-Miranda, Lugo-Miranda Law Offices, San Juan, PR.
Rs: (UBSFSInc, UBSFSIncPR, UBSTCoPR & UAMPR) George C. Freeman III & Jamie L. Berger & Robert J. Dressel, Barraso Usdin et al., New Orleans, LA. OSC. and Robert C. Quinones & Dalina Sumner, McConnell Valdes LLC, San Juan, PR.
Rs: (JMU) Sonia I. Torres-Pabon, Melendez Torres Law, San Juan, PR.
Rs: (AR) None.

TypeDisp EmployeeMember				Allegation I Expungement(CRD)
Short Caption Boneta v. UBS Financial				Allegation II
Forum FINRA				Allegation III
Docket No		18-03613		Products MuniSecs
Issue Date		2019-03-27
Situs	San Juan	State	PR

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 wins expungement relief relating to two FINRA Arbitration Cases involving Puerto Rico Municipal Bonds from his CRD record.

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: (ALB) Linette Figueroa Torres, Toro Colon Mullet PSC, San Juan, PR.
Rs: (UBSFSInc & UBSFSIncPR) Sonia M. Lopez del Valle, McConnell Valdes LLC, San Juan, PR. OSC.

TypeDisp CustomerMember				Allegation I Churning
Short Caption Devenish v. Morgan Stanley				Allegation II Suitability
Forum FINRA				Allegation III Misreprestn
Docket No		17-03474		Products CorpDebt
Issue Date		2019-03-29
Situs	Columbia	State	SC

Clmd Compensatory	365.7
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

A Majority-Public Panel provides a lengthy explanation as to their reasoning behind denying the two customers claims relating to their bond portfolio. Respondent brokers are awarded expungement relief of this matter from their CRD records.

Notes

Majority Public Panel. Arbitrator Remarks -- Expungement granted. Explained Award.

Arbitrators

Robert H. Putnam, Jr., Esq. - Chair; John F. Adcock; Kathryn Elizabeth Schwartz

Broker-Dealers Named

Morgan Stanley

Professionals

Cs: Aaron Zeisler, Zeisler PLLC, New York, NY.
Rs: (MSSBLLC, SFM & SEG) Abigail Elrod, New York, NY. ISC.

TypeDisp EmployeeMember				Allegation I Expungement(CRD)
Short Caption Owen v. HD Vest				Allegation II
Forum FINRA				Allegation III
Docket No		18-02754		Products NP
Issue Date		2019-03-28
Situs	Nashville	State	TN

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

Claimant broker is awarded expungement relief with respect to a customer complaint appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Michael J. Ahlstrom, Esq.

Broker-Dealers Named

HD Vest Investment Services

Professionals

Cs: (MDO) Erica Harris, AdvisorLaw LLC, Westminster, CO.
Rs: (HDVISvcs) Eric J. Chartan, Irving, TX. ISC.

TypeDisp CustomerMember				Allegation I Suitability
Short Caption Engberg v. Wells Fargo				Allegation II Misreprestn
Forum FINRA				Allegation III Supervision
Docket No		17-02604		Products VariableAnnuities
Issue Date		2019-03-25
Situs	Houston	State	TX

Clmd Compensatory	77.4
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

A customer alleging securities fraud, among other things, loses her claim against Respondent broker-dealer and broker relating to the assessment of management fees, portfolio management and purchase of variable annuities in Claimant's account. Respondent broker loses his request for expungement.

Notes

All-Public Panel. Rescission Requested.

Arbitrators

Frank M. Romano - Chair; Thomas A. Martin, Esq.; Eric R. Benton, Esq.

Broker-Dealers Named

Wells Fargo Advisors LLC

Professionals

Cs: Pro se.
Rs: (WFALLC & RDD) Theodore R. Bynum III, Wells Fargo Law Department, St. Louis, MO. ISC.

TypeDisp EmployeeMember				Allegation I Expungement(CRD)
Short Caption Klemens v. BC Ziegler				Allegation II
Forum FINRA				Allegation III
Docket No		18-02870		Products CDOs; Derivatives
Issue Date		2019-03-28
Situs	Milwaukee	State	WI

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

Claimant broker is awarded expungement relief with respect to two previously settled customer arbitrations from her CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Gregory G. Gocek

Broker-Dealers Named

BC Ziegler & Company

Professionals

Cs: (DMK) Harris Freedman & Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
Rs: (BCZ&Co) Jonathan Hackbarth, Quarles & Brady LLP, Milwaukee, WI. OSC.

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Dispute Information

Damages*

TypeDisp

Allegation I

Short Caption

Allegation II

Forum

Allegation III

Docket No

Products

Issue Date

Situs

State

Clmd Compensatory

Total Amt Awarded

Compensatory Awarded

Punitive Damage Awarded

Attorney Fees Awarded

Case Summary

Notes

People & Entities

Arbitrators

Broker-Dealers Named

Professionals

TypeDisp

Allegation I

Short Caption

Allegation II

Forum

Allegation III

Docket No

Products

Issue Date

Situs

State

Clmd Compensatory

Total Amt Awarded

Compensatory Awarded

Punitive Damage Awarded

Attorney Fees Awarded

Case Summary

Notes

Arbitrators

Broker-Dealers Named

Professionals

TypeDisp

Allegation I

Short Caption

Allegation II

Forum

Allegation III

Docket No

Products

Issue Date

Situs

State

Clmd Compensatory

Total Amt Awarded

Compensatory Awarded

Punitive Damage Awarded

Attorney Fees Awarded

Case Summary

Notes

Arbitrators

Broker-Dealers Named

Professionals

TypeDisp

Allegation I

Short Caption

Allegation II

Forum

Allegation III

Docket No