* 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.
* 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.
* 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.
* 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.
* 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.
* 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.
* 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.
* 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.
* 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.
* 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.
* 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.
* 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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