UPDATE : ARBchek

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

New Award Briefs

Report Dated: 2021-01-12

UA 2020-30

Primary Sort

Secondary Sort

Dispute Information

Damages*

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Richards v. Capital Investment

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01457

Products

PrivSecTrans

Issue Date

2020-12-31

Situs

Phoenix

State

AZ

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 granted Claimant broker's request for expungement of a FINRA arbitration from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

People & Entities

Arbitrators

Merton E. Marks, Esq.

Broker-Dealers Named

Capital Investment Group Incorporated

Professionals

  • Cs: (KGR) Michael O'Gara & Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (CIGInc) Steven Blair Wilson, Raleigh, NC. ISC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Liou v. Ameriprise Financial

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

17-00102

Products

PrivSecTrans

Issue Date

2020-12-15

Situs

Los Angeles

State

CA

Clmd Compensatory

930.0

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

In this selling away case, two customers voluntarily dismiss their claims against Respondent broker-dealer and a registered representative (NO SETTLEMENT AGREEMENT). On the Cross-Claim, said registered representative is held liable to Respondent broker-dealer for compensatory damages and attorney fees pursuant to Ameriprise Financial Services Inc.'s Financial Advisor Agreement.

Notes

Selling Away case. Severance. Majority Public Panel. Arbitrator Remarks.

Arbitrators

Kendall C. Reed, Esq. - Chair; Milton N. Gross; Lois J. Cox

Broker-Dealers Named

Ameriprise Financial Services LLC

Professionals

  • Cs: Kevin O'Connell, Law Offices of K. O'Connell & Associates, Chino, CA.
  • Rs: (AFSLLC) Chad Weaver, Freeman Mathis & Gary, Seal Beach, CA. OSC.
  • Rs: (LLH) None.

TypeDisp

CustomerMember

Allegation I

MarginLiqdn

Short Caption

Bowe v. Interactive Brokers

Allegation II

Fraud

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

17-01168

Products

Equity; Margin

Issue Date

2020-12-29

Situs

Los Angeles

State

CA

Clmd Compensatory

256.5

Total Amt Awarded

16.0

Compensatory Awarded

16.0

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 that his margin account was wrongfully liquidated with respect to a investment in J.C. Penny stocks wins his case against Respondent broker-dealer.

Notes

Rescission Requested. All-Public Panel.

Arbitrators

Yvonne Brathwaite Burke - Chair; Barbara M. Anscher, Esq.; Michael Lancaster Garcia

Broker-Dealers Named

Interactive Brokers LLC

Professionals

  • Cs: Pro se.
  • Cs: Samuel B. Edwards, Shepherd Smith et al., Houston, TX.
  • Rs: (IBLLC) Katherine L. Schuerman, Washington, DC. ISC.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

LPL Financial v. Medina

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

20-02419

Products

PromissoryNote

Issue Date

2020-12-16

Situs

San Diego

State

CA

Clmd Compensatory

49.3

Total Amt Awarded

33.0

Compensatory Awarded

33.0

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 non-appearing registered representative is held liable to Claimant broker-dealer for the amounts due and owing on a promissory note and a Representative Agreement.

Notes

None.

Arbitrators

Charles Chia-Lin Hsieh

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: (LPLFLLC) William H. Edmonson, Law Office of W. Edmonson, West Hollywood, CA. OSC.
  • Rs: (MM) No-show.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

Kestra Financial v. Ford

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

20-02428

Products

PromissoryNote

Issue Date

2020-12-16

Situs

Los Angeles

State

CA

Clmd Compensatory

50.3

Total Amt Awarded

61.5

Compensatory Awarded

50.3

Punitive Damage Awarded

Attorney Fees Awarded

8.9

* 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 to Claimant broker-dealers for the amounts due and owing on two promissory note agreements.

Notes

Arbitrator Remarks.

Arbitrators

Robert D. Sussin, Esq.

Broker-Dealers Named

Kestra Financial Incorporated; Kestra Investment Services LLC

Professionals

  • Cs: (KFInc & KISLLC) Richard A. D'Amura, D'Amura & Zaidman, Austin, TX. OSC.
  • Rs: (CWF) No-show.

TypeDisp

SmallClms

Allegation I

Misappropriatn

Short Caption

Roessel v. UBS Financial

Allegation II

Negligence

Forum

FINRA

Allegation III

BreachContract

Docket No

20-02829

Products

NP

Issue Date

2020-12-30

Situs

Los Angeles

State

CA

Clmd Compensatory

50.0

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

An Arbitrator explains in detail, while citing case law, why she has decided to deny the customer's claims against Respondent broker-dealer and a broker regarding investments in a Portfolio Management Program account.

Notes

Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Arbitrator Remarks -- Explained Award. Case law cited.

Arbitrators

Elizabeth Anne Moreno

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: Pro se.
  • Rs: (UBSFSInc & JJS) Charlotte S. Wolfe, UBS Business Solutions US LLC, Nashville, TN. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Calandra v. Sagepoint Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02859

Products

NP

Issue Date

2020-12-29

Situs

Hartford

State

CT

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

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Samuel Harrison Chorches, Esq.

Broker-Dealers Named

Sagepoint Financial Incorporated

Professionals

  • Cs: (CJC) None.
  • Rs: (SFInc) James V. Noblett, Advisor Group, Jersey City, NJ. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Dolfis v. AXA Advisors

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01203

Products

NP

Issue Date

2020-12-15

Situs

Washington

State

DC

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

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Douglas Earl McLaren, Esq.

Broker-Dealers Named

AXA Advisors LLC

Professionals

  • Cs: (MSD) Dochtor Kennedy & Benjamin Winograd, AdvisorLaw LLC, Westminster, CO.
  • Rs: (AXAALLC) Annette K. Ebright, AXA Equitable Life Insurance Company, Charlotte, NC. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Braverman v. FSC Securities

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01015

Products

DirectInvesmts; RealEstate; MutualFunds; Annuities

Issue Date

2020-12-17

Situs

Wilmington

State

DE

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 granted expungement of five customer complaints from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Robert E. Anderson, Esq.

Broker-Dealers Named

FSC Securities Corporation; Geneos Wealth Management Incorporated

Professionals

  • Cs: (RMB) Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (FSCSCorp) James Noblett, Advisor Group Incorporated, Jersey City, NJ. ISC.
  • Rs: (GWMInc) Victoria H. Buter, Kutak Rock LLP, Omaha, NE. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Roselle v. Cambridge Investment

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01793

Products

VariableLifeInsurance

Issue Date

2020-12-23

Situs

Wilmington

State

DE

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

Notes

Please Note* This case was administered under the Special Proceeding option for simplified cases. Arbitrator Remarks -- Expungement granted.

Arbitrators

Patrick Richard Westerkamp, Esq.

Broker-Dealers Named

Cambridge Investment Research Incorporated; Securian Financial Services Incorporated

Professionals

  • Cs: (TAR) Brian Luther, FA Expungement LLC, Denver, CO.
  • Rs: (CIRInc) Richard H. Kuhlman, First Vice President, Fairfield, IA. ISC.
  • Rs: (SFSInc) Richard J. Babnick Jr., Sichenzia Ross Ference LLP, New York, NY. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Backman v. UBS Financial

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

19-00522

Products

Options

Issue Date

2020-12-22

Situs

Boca Raton

State

FL

Clmd Compensatory

402.2

Total Amt Awarded

89.7

Compensatory Awarded

89.7

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

An All-Public Panel finds Respondent broker-dealer liable on the claim of unsuitability and awards the Claimant compensatory damages. Respondent broker-dealer loses its request for expungement on behalf of two Non-Party brokers.

Notes

All-Public Panel. Arbitrator Remarks.

Arbitrators

Christopher J. Klein, Esq. - Chair; Gary M. Landau, Esq.; Stephanie Jeannette Charny

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: Christopher J. Gray & Michael DeRienzo, Law Office of C.J. Gray PC, New York, NY.
  • Rs: (UBSFSInc) Joseph Serino Jr. & Kuan Huang, Latham & Watkins, New York, NY. OSC.

TypeDisp

CustomerMember

Allegation I

UnauthTdg

Short Caption

Meide v. Morgan Stanley

Allegation II

BreachFiducDty

Forum

FINRA

Allegation III

Negligence

Docket No

19-01255

Products

Equity

Issue Date

2020-12-18

Situs

Jacksonville

State

FL

Clmd Compensatory

512.0

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

Two customers alleging the unauthorized sale of shares in Cisco Inc. lose their claims against Respondent broker-dealer and broker. Respondent broker is denied his request for expungement of this matter from his CRD record.

Notes

All-Public Panel.

Arbitrators

Darryl C. Wilson, Esq. - Chair; Kenneth J. Bennett; Cindy L. Anderson, Esq.

Broker-Dealers Named

Morgan Stanley

Professionals

  • Cs: Charles A. Sorenson, Coker Law, Jacksonville, FL and J. Rice Ferrelle Jr., Ferrelle Burns PA, Neptune Beach, FL.
  • Rs: (MSSBLLC & NP) Christopher M. Sacco, St. Petersburg, FL. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Nowak v. Summit Brokerage

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

20-00424

Products

NP

Issue Date

2020-12-29

Situs

Orlando

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

A broker is granted his request for reformation of defamatory information from his Form U5 record.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Gayle B. Carlson, Esq.

Broker-Dealers Named

Summit Brokerage Services Incorporated

Professionals

  • Cs: (DRN) Harris Freedman, HLBS Law, Westminster, CO.
  • Rs: (SBSInc) Benjamin J. Biard, Winget Spadafora & Schwartzberg LLP, Miami, FL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Jordan v. Citigroup Global

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01273

Products

MutualFunds; Equity; Margin

Issue Date

2020-12-18

Situs

Boca Raton

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

A broker wins his request for expungement of four customer complaints from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Edward R. Niederriter, Esq.

Broker-Dealers Named

Citigroup Global Markets Incorporated

Professionals

  • Cs: (PAJ) Cory S. Zadanosky, Zadanosky & Associates P.A., Boca Raton, FL.
  • Rs: (CGMInc) Adam M. Kauff, Kauff Laton Miller LLP, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Facka v. Wells Fargo

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01453

Products

Equity

Issue Date

2020-12-15

Situs

Boca Raton

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

A broker is granted his request for expungement of a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Mark Allen Bilawsky

Broker-Dealers Named

Wells Fargo Clearing Services LLC

Professionals

  • Cs: (CLF) Harris Freedman, Of Counsel, HLBS Law, Westminster, CO.
  • Rs: (WFCSLLC) Patricia E. Cowart, Wells Fargo Legal Department, Fort Lauderdale, FL. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Jankowski v. Raymond James

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

20-02032

Products

NP

Issue Date

2020-12-16

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

An Arbitrator granted Claimant broker's request for reformation of his Form U5 record.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Thomas J. Patka, Esq.

Broker-Dealers Named

Raymond James Financial Services Incorporated

Professionals

  • Cs: (DMJ) Andre R. Perron, Barnes Walker et al., Bradenton, FL.
  • Rs: (RJFSInc) Robert M. Rudnicki, St. Petersburg, FL. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Borders v. Raymond James

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02422

Products

Equity

Issue Date

2020-12-31

Situs

Louisville

State

KY

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

A registered representative wins his request for expungement of a customer complaint from appearing on his CRD record and in a rare move, the Arbitrator awarded said registered representative nominal damages.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Mark Alexander Sipper

Broker-Dealers Named

Raymond James & Associates Incorporated

Professionals

  • Cs: (WHB) Joel M. Everett, Bressler Amery & Ross P.C., Birmingham, AL.
  • Rs: (RJ&AInc) Robert M. Rudnicki, St. Petersburg, FL. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Langan v. MML Investors

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01238

Products

VariableAnnuities; Insurance; MutualFunds

Issue Date

2020-12-22

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

Claimant broker is granted expungement of three customer complaints from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

David L. Ruderman, Esq.

Broker-Dealers Named

MML Investors Services LLC

Professionals

  • Cs: (RJL) Frances Menzer, AdvisorLaw LLC, Westminster, CO.
  • Rs: (MMLISLLC) Julie E. Ravis, Stevens & Lee, Reading, PA. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Wohl v. JP Morgan

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01151

Products

NP

Issue Date

2020-12-16

Situs

Detroit

State

MI

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 of a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Erane C. Washington-Kendrick

Broker-Dealers Named

JP Morgan Securities LLC

Professionals

  • Cs: (DAW) Jonathan M. Sterling, Saretsky Hart et al., Birmingham, MI.
  • Rs: (JPMSLLC) Booker T. Coleman Jr., Ulmer & Berne, Chicago, IL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Hall v. Merrill Lynch

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01493

Products

MutualFunds

Issue Date

2020-12-17

Situs

Jersey City

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

A registered representative wins his request for expungement of a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Linda J. Baer, Esq.

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

  • Cs: (DRH) Susan M. Kelleher, Kelleher Weisfelner Law Group LLC, Chatham, NJ.
  • Rs: (MLPFSInc) Kathryn D. Perreault, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp

SmallClms

Allegation I

FailToObey

Short Caption

Hassan v. David Lerner

Allegation II

BreachFiducDty

Forum

FINRA

Allegation III

Docket No

20-02251

Products

MutualFunds

Issue Date

2020-12-28

Situs

Newark

State

NJ

Clmd Compensatory

15.8

Total Amt Awarded

15.8

Compensatory Awarded

15.8

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 is awarded compensatory damages from Respondent broker-dealer relating to his investment in a Lord Abbett mutual fund.

Notes

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

Arbitrators

Martin R. Cramer

Broker-Dealers Named

David Lerner Associates Incorporated

Professionals

  • Cs: Pro se.
  • Rs: (DLAInc) Joseph C. Pickard, Syosset, NY. ISC.

TypeDisp

EmployeeMember

Allegation I

BreachContract

Short Caption

Goggin v. Integral Derivatives

Allegation II

BreachFiducDty

Forum

FINRA

Allegation III

Docket No

19-02723

Products

NP

Issue Date

2020-12-17

Situs

New York

State

NY

Clmd Compensatory

0.0

Total Amt Awarded

Equity

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 loses his claim for monetary relief but is granted specific performance against Respondent broker-dealer and broker relating to the dissolution of Integral Derivatives LLC and its assets. Respondent broker-dealer and broker lose their Counterclaim but are awarded attorney fees and costs.

Notes

Arbitrator Remarks.

Arbitrators

Paul C. Tang - Chair; John Michael Richardson; Kathleen Cawley

Broker-Dealers Named

Integral Derivatives LLC

Professionals

  • Cs: (KFG) Stephen J. Nelson, The Nelson Law Firm LLC, White Plains, NY.
  • Rs: (IDLLC) Gary M. Miller, Shook Hardy & Bacon, Chicago, IL. OSC.
  • Rs: (JD) Todd C. Jacobs, Bradley Riley Jacobs PC, Chicago, IL.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Eitner v. Laidlaw & Company

Allegation II

Forum

FINRA

Allegation III

Docket No

20-00504

Products

Equity

Issue Date

2020-12-22

Situs

New York

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

A registered representative wins his request for expungement of two customer complaints from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Harvey Barrison, Esq.

Broker-Dealers Named

Laidlaw & Company (UK) Limited

Professionals

  • Cs: (MDE) Michael H. Florence & Thomas P. McEvoy, Sichenzia Ross Ference LLP, New York, NY.
  • Rs: (L&CUKLtd) Alex Shtaynberger, New York, NY. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Schwartz v. Northwestern Mutual

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

20-01215

Products

NP

Issue Date

2020-12-16

Situs

New York

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

Claimant broker is awarded reformation of defamatory information from his Form U5 record.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Alice E. Winkler, Esq.

Broker-Dealers Named

Northwestern Mutual Investment Services LLC

Professionals

  • Cs: (MSS) Dochtor Kennedy & Erica Harris, AdvisorLaw LLC, Westminster, CO.
  • Rs: (NMISLLC) Thomas K. Anderson, Northwestern Mutual, Milwaukee, WI. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Goel v. NYLife Securities

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01697

Products

NP

Issue Date

2020-12-17

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

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Jill Pilgrim, Esq.

Broker-Dealers Named

NYLife Securities LLC

Professionals

  • Cs: (CG) Richard D. DeVita, DeVita & Associates, Hoboken, NJ.
  • Rs: (NYLSLLC) Richard F. Lubarsky, Lubarsky Law Firm PLLC, White Plains, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Eller v. Securities America

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01758

Products

DirectInvesmts

Issue Date

2020-12-23

Situs

New York

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

A broker wins expungement of one customer complaint from appearing on his CRD record but loses his request for expungement of a second.

Notes

Please Note* This case was administered under the Special Proceeding option for simplified cases. Arbitrator Remarks -- Expungement granted.

Arbitrators

Ellyn S. Roth

Broker-Dealers Named

Securities America Incorporated

Professionals

  • Cs: (RE) Zachary T. Hayes-Macaluso, FA Expungement LLC, Denver, CO.
  • Rs: (SAInc) Tyler Schubauer, La Vista, NE. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

McCabe v. Equitable Advisors

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02295

Products

NP

Issue Date

2020-12-22

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

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Gregory P. Szuter, Esq.

Broker-Dealers Named

Equitable Advisors LLC

Professionals

  • Cs: (JMM) Katherine B. Harrison, Paduano & Weintraub, New York, NY.
  • Rs: (EALLC) Kevin W. Brooks, Charlotte, NC. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Ellis v. Wells Fargo

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

19-02879

Products

NP

Issue Date

2020-12-18

Situs

Philadelphia

State

PA

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

A broker settles her defamation claim against Respondent broker-dealer and is granted reformation of her Form U5 record as part of the parties' Settlement Agreement.

Notes

This is a Stipulated Award. Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Mark H. Stein, JD - Chair; Mary L. Sims; Rachael Luken Carp, Esq.

Broker-Dealers Named

Wells Fargo Clearing Services LLC

Professionals

  • Cs: (TRE) Samuel Wilson, Derek Smith Law Group PLLC, Philadelphia, PA.
  • Rs: (WFCSLLC) Heather Z. Steele, Fisher Phillips LLP, Radnor, PA. OSC.

TypeDisp

CustomerMember

Allegation I

Misappropriatn

Short Caption

Redwine v. Morgan Stanley

Allegation II

Supervision

Forum

FINRA

Allegation III

Misreprestn

Docket No

19-02913

Products

DirectInvesmts

Issue Date

2020-12-16

Situs

Columbia

State

SC

Clmd Compensatory

7353.6

Total Amt Awarded

167.3

Compensatory Awarded

75.0

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

An All-Public Panel explains why it has decided to award the customer damages against Respondent broker-dealer relating to said customer's claim that assets in her trust account were allegedly misappropriated with respect to a private placement investment.

Notes

Rescission Requested. All-Public Panel. Arbitrator Remarks -- Explained Award.

Arbitrators

Langfred W. White, Esq. - Chair; Karl A. Vogeler, III; John Winslow Griesser

Broker-Dealers Named

Morgan Stanley & Company LLC

Professionals

  • Cs: Carl D. Liggio Sr. & William B. Fleming, Gage Spencer & Fleming, New York, NY.
  • Rs: (MS&CLLC) Adam M. Kauff & Jonathan Perrelle, Kauff Laton Miller LLP, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Soulek v. SII Investments

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01336

Products

NP

Issue Date

2020-12-18

Situs

Milwaukee

State

WI

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

Claimant broker loses her request for expungement of a customer complaint from appearing on her CRD record.

Notes

Please Note* This case was administered under the Special Proceeding option for simplified cases.

Arbitrators

Lynn Hirschfeld Brahin, Esq.

Broker-Dealers Named

SII Investments Incorporated

Professionals

  • Cs: (KAS) Brian Luther, FA Expungement LLC, Denver, CO.
  • Rs: (SIIIInc) Eric A. Michaels & Laura K. Willenbring, Saretsky Hart et al., Birmingham, MI. OSC.
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