* 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 elder abuse case, two customer trustees are awarded over $1.3 million in compensatory damages relating to their investment in Okcoin cryptocurrency. Although he agreed with the awarding of compensatory damages, one Arbitrator dissented from his fellow Panelists and would have also awarded the customers interest, as well as their attorney fees and costs incurred in this matter as a precedent to deter these types of abuses against elderly investors in the future.
Notes
Big $s. All-Public Panel. Arbitrator Remarks -- Arbitrator dissents with explanation.
People & Entities
Arbitrators
Timothy J. Kroll, MS - Chair; Hector R. Diaz-Olmo (Dissents); Ronald J. Broida
Broker-Dealers Named
Charles Schwab & Company Incorporated
Professionals
Cs: W. Scott Greco, Greco & Greco, Mclean, VA.
Rs: (CS&CInc) Neil S. Baritz, Baritz & Colman LLP, Boca Raton, FL. 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 Panel unanimously grants a broker's request for expungement of three customer complaints from appearing on his CRD record after finding said request met all three criteria under FINRA Rule 2080.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Gregory John Getz - Chair; Richard W. Vallario, Esq.; Tracy L. Allen, Esq.
Broker-Dealers Named
Ameriprise Financial Services LLC
Professionals
Cs: (KLE) 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
In this small claims arbitration, a corporate investor alleging that it was prevented from completing a planned Regulation Crowdfunding securities offering after Respondent broker-dealer engaged in a sequence of deceptive practices is awarded compensatory damages.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing.
Arbitrators
Kenneth R. Starr, Esq.
Broker-Dealers Named
Title3Funds LLC
Professionals
Cs: Pro se, through Andrew Kirby, Chief Executive Officer, Venice, FL.
Rs: (T3FLLC) Bruce Virgo, Chief Executive Officer, Laguna Beach, CA. 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 alleging that Respondent broker-dealer's website prevented him from canceling an unauthorized purchase of MWC stock and as a result of the error he suffered a financial loss loses his case.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing.
Arbitrators
Kathy A. Tatone, Esq.
Broker-Dealers Named
Fidelity Brokerage Services LLC
Professionals
Cs: Pro se.
Rs: (FBSLLC) Kara E. Fay, FMR LLC Legal Department, Boston, MA. 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 alleging that Respondent broker-dealer breached its fiduciary duty when it routed his purchase order of shares in VanEck Russia ETF to an individual investor instead of the VanEck Fund and for its failure to inform him of such, as well as the President's Executive Order that prohibited the sale of Russian-affiliated securities loses his case.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing.
* 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
Registered Rep is granted her request for expungement of a customer complaint from appearing on her CRD record after the Panel found that all three criteria were met under FINRA Rule 2080 to award said relief.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Shawn Ridgell - Chair; Michael S. Matek, Esq.; Mark C. Watler, JD
Broker-Dealers Named
Merrill Lynch Pierce Fenner & Smith Incorporated
Professionals
Cs: (BC) N. Nancy Ghabai, Ghabai Law Group LLC, 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 intra-industry case, a FINRA member firm alleging that Respondent broker-dealer breached its contract when it failed to deliver requested dividend values is awarded compensatory damages.
Notes
None.
Arbitrators
Paul Giappone, Esq. - Chair; Donald N. Cohen, Esq.; Andrew Berman
Broker-Dealers Named
GTS Securities LLC; StoneX Financial Incorporated
Professionals
Cs: (GTSSLLC) Francis X. Riley III, Saul Ewing LLP, Princeton, 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
In this small claims arbitration, a customer alleging that due to a notification delay while using Respondent broker-dealer's online platform, he suffered realized losses is denied his request for damages.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing.
Arbitrators
Robert Elliot Harrison
Broker-Dealers Named
Interactive Brokers LLC
Professionals
Cs: Pro se.
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
Registered Rep is granted his request for expungement of a customer complaint from appearing on his CRD record after the Panel found that said request met all three criteria under FINRA Rule 2080.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Alice E. Winkler, Esq. - Chair; Dineo Coleman Gary; Mitchel Weiss, Esq.
Broker-Dealers Named
Cambridge Investment Research Incorporated
Professionals
Cs: (JLC) Alex Padla & Jennifer Davis, HLBS Law, Broomfield, CO.
Rs: (CIRInc) Emily Azzarito, Fairfield, IA. ISC.
Any attempt to use robotics to download Awards posted on this WebSite or to gain access to the Awards on this WebSite in contravention of the Terms of Use Agreement is an unauthorized use, an abuse of the privileges extended to users of this WebSite, and, in our view, a violation of federal law.
