UPDATE : ARBchek

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

New Award Briefs

Report Dated: 2017-05-26

UA 2017-19

Primary Sort

Secondary Sort

Dispute Information

Damages*

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Gorguze v. C.L. King

Allegation II

Negligence

Forum

FINRA

Allegation III

Misreprestn

Docket No

14-02898

Products

Equity; Margin

Issue Date

2017-05-08

Situs

San Diego

State

CA

Clmd Compensatory

53934.1

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."

Claim Summary

Cs alleged that Rs significantly departed from its normal role as an account custodian, enabling an investment adviser NSB Advisors LLC to drastically over-leverage and over-concentrate Cs' accounts, knowingly concealing that it did not have the proper resources and capital to finance such activity, and involving itself in the management of NSB's trading activity.

Notes

All-Public Panel.

People & Entities

Arbitrators

Michael D. Briggs - Chair; Otis E. Hackett; Randall Brian Christison

Broker-Dealers Named

C.L. King & Associates Incorporated

Professionals

  • Cs: John G. Rich and Ross B. Intelisano, Rich Intelisano & Katz, New York, NY.
  • Rs: (CLK&AInc & CKW) Christopher F. Robertson, Seyfarth Shaw LLP, Boston, MA. OSC. and Richard A. Roth, The Roth Law Firm, New York, NY. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Bunnell v. Cape Securities

Allegation II

Churning

Forum

FINRA

Allegation III

Misreprestn

Docket No

14-03136

Products

Equity; Margin

Issue Date

2017-05-09

Situs

San Francisco

State

CA

Clmd Compensatory

0.0

Total Amt Awarded

306.2

Compensatory Awarded

277.2

Punitive Damage Awarded

0.0

Attorney Fees Awarded

29.0

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Claim Summary

Cs alleged the overconcentration of equities, otherwise unsuitable investments, churning and abuse of margin in their accounts.

Notes

Rs Cape Securities Inc. and Global Arena Capital Corporation were not assessed any portion of the awarded amount. Rs Dalton Strategic Investment Services Inc. was assessed.

Arbitrators

Herb Schwartz - Chair; Kenneth Paul Strongman; Howard M. Hoffman

Broker-Dealers Named

Cape Securities Incorporated; Global Arena Capital Corporation; Dalton Strategic Investment Services Incorporated

Professionals

  • Cs: Adam B. Wolf & Jason J. Kane, Peiffer Rosca et al., San Francisco, CA.
  • Rs: (CSInc) Christina Z. Vourakis, Winget Spadafora & Schwartzberg, Los Angeles, CA. OSC.
  • Rs: (DSISInc) Robert M. Bursky, Attorney-at-Law, Melville, NY. OSC.
  • Rs: (GACCorp) Ronald S. Herzog, LeClair Ryan LLP, New York, NY. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Conklin v. LPL Financial

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

16-00979

Products

Equity; MutualFunds

Issue Date

2017-05-12

Situs

Los Angeles

State

CA

Clmd Compensatory

1306.5

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."

Claim Summary

Cs alleged that Rs failed recommend, purchase and monitor a suitable portfolio or to employ a suitable asset allocation, risk management and investment strategy. The causes of action related to non-conventional investments, including the RRE Opportunity Fund, LaeRoc 2005-06 Income Fund, Atlas Public 18A and Atlas Public 18B and preferred stocks.

Notes

All-Public Panel. Rescission Requested.

Arbitrators

Robert F. Saint-Aubin, Esq. - Chair; W. Alex King; Kenneth M. Weinman, Esq.

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: Philip M. Aidikoff & Ryan Bakhtiari, Aidikoff Uhl & Bakhtiari, Beverly Hills, CA.
  • Rs: (LPLFLLC) Kirsten Patzer, Boston, MA. ISC.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

De Oliveira v. VFinance Investments

Allegation II

Supervision

Forum

FINRA

Allegation III

Negligence

Docket No

15-01516

Products

CorpDebt

Issue Date

2017-05-12

Situs

Miami

State

FL

Clmd Compensatory

970.5

Total Amt Awarded

600.0

Compensatory Awarded

600.0

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."

Claim Summary

The causes of action related to the purchase of a convertible debenture issued by Sterling Financial Group of Companies Inc., the parent company of Rs.

Notes

Big $s. Sanctions imposed. All-Public Panel. Arbitrator Remarks.

Arbitrators

John Richard Lynch, Esq. - Chair; Daniel Morhaim; Gerald Silverman, Esq. (Dissents)

Broker-Dealers Named

VFinance Investments Incorporated

Professionals

  • Cs: Jonathan E. Neuman, Law Offices of J.E. Neuman, Fresh Meadows, NY.
  • Rs: (VFIInc) Benjamin J. Biard & Derek C. Anderson, Winget Spadafora & Schwartzberg, Miami, FL. OSC.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

Denisco v. Wells Fargo

Allegation II

Negligence

Forum

FINRA

Allegation III

Supervision

Docket No

16-00499

Products

MutualFunds

Issue Date

2017-05-09

Situs

Boca Raton

State

FL

Clmd Compensatory

208.0

Total Amt Awarded

Equity

Compensatory Awarded

Equity

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."

Claim Summary

The causes of action related to the Legg Mason Western Asset High Income Fund and the Gabelli Utilities Fund.

Notes

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

Arbitrators

Steven Gerard Goerke, Esq. - Chair; Paul Weinberg; Jeffrey Scott Shapiro

Broker-Dealers Named

Wells Fargo Advisors LLC

Professionals

  • Cs: Adam T. Rabin, McCabe Rabin PA, West Palm Beach, FL.
  • Rs: (WFALLC) Patricia E. Cowart, Wells Fargo Law Department, Fort Lauderdale, FL. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Overton v. Raymond James

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

16-03104

Products

NP

Issue Date

2017-05-11

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."

Claim Summary

Cs requested the expungement of a customer-initiated arbitration alleging improper transaction fees from his CRD records.

Notes

Arbitrator Remarks -- Expungement granted after a hearing on the merits.

Arbitrators

Richard S. Zaifert, Esq.

Broker-Dealers Named

Raymond James Financial Services Incorporated

Professionals

  • Cs: (SO) Dochtor D. Kennedy & Michael O'Gara, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (RJFSInc) Brandy Pikus, St. Petersburg, FL. ISC.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

Bonifazio v. Antaki

Allegation II

BreachFiducDty

Forum

FINRA

Allegation III

Supervision

Docket No

15-01681

Products

*

Issue Date

2017-05-11

Situs

New York

State

NY

Clmd Compensatory

300.0

Total Amt Awarded

Equity

Compensatory Awarded

Equity

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."

Claim Summary

Bare-Bones Summary.

Notes

This is a Stipulated Award. Rescission Requested. Panel composition issue.

Arbitrators

R. Peyton Gibson - Chair; Renee La Verne Ross, CFP

Broker-Dealers Named

Rockwell Global Capital LLC

Professionals

  • Cs: Anthony Varbero, Joseph Mure Jr. & Associates, Brooklyn, NY.
  • Rs: (CGA) None.
  • Rs: (BJG & RGCLLC) Robert M. Bursky, Attorney-at-Law, Melville, NY. OSC.
  • T-Pty Cs: (BJG) Robert M. Bursky, Attorney-at-Law, Melville, NY.
  • T-Pty Rs: (CGA) None.

TypeDisp

CustomerMember

Allegation I

MarginLiqdn

Short Caption

Bell v. TD Ameritrade

Allegation II

BreachContract

Forum

FINRA

Allegation III

Negligence

Docket No

16-00381

Products

CorpDebt; Margin

Issue Date

2017-05-11

Situs

New York

State

NY

Clmd Compensatory

125.0

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."

Claim Summary

Cs alleged that Rs subjected his account to a margin call without making further efforts to satisfy the call through the sale of a non-marginable security held in his margin account, Colonial Square 9.0% bonds.

Notes

All-Public Panel. Arbitrator Remarks -- Arbitrator dissents without explanation. Explained Award.

Arbitrators

Stephen A. Weiner, Esq. - Chair; Bertrand M. Lanchner, Esq. (Dissents); Marion F. Posner

Broker-Dealers Named

TD Ameritrade Incorporated

Professionals

  • Cs: Jonathan E. Neuman, Law Offices of J.E. Neuman, Fresh Meadows, NY.
  • Rs: (TDAInc) Simeon M. Schopf, Columbia, MD. ISC.

TypeDisp

MemberMember

Allegation I

Fraud

Short Caption

Marv Capital v. Hartfield Titus

Allegation II

Forum

FINRA

Allegation III

Docket No

16-00682

Products

NP

Issue Date

2017-05-12

Situs

New York

State

NY

Clmd Compensatory

182.2

Total Amt Awarded

0.0

Compensatory Awarded

0.0

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."

Claim Summary

Bare-Bones Summary.

Notes

Directed Verdict -- Full Dismissal. Arbitrator Remarks.

Arbitrators

Martin Hunger, Esq. - Chair; Brian R. Cohen; Valentine Gregory Stevens

Broker-Dealers Named

Marv Capital Incorporated; Hartfield Titus & Donnelly LLC

Professionals

  • Cs: (MCInc) Virupaksha Raparthi, New York, NY. ISC.
  • Rs: (HT&DLLC) Irwin Weltz, Sichenzia Ross et al., New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Brown v. JP Morgan

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

16-01375

Products

NP

Issue Date

2017-05-08

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."

Claim Summary

Cs requested expungement of a customer complaint from his CRD records.

Notes

Arbitrator Remarks -- Expungement granted after a hearing on the merits.

Arbitrators

Ellyn S. Roth - Chair; Peter McClellan Wright; Roger J. Hawke, Esq.

Broker-Dealers Named

JP Morgan Securities LLC

Professionals

  • Cs: (TMB) Robert L. Herskovits, Herskovits PLLC, New York, NY.
  • Rs: (JPMSLLC) Jamie F. Friedman, New York, NY. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Kenny v. BBVA Securities

Allegation II

Defamation

Forum

FINRA

Allegation III

WrongTerm

Docket No

16-01768

Products

NP

Issue Date

2017-05-10

Situs

New York

State

NY

Clmd Compensatory

400.0

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."

Claim Summary

Bare-Bones Summary.

Notes

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

Arbitrators

Annamaria Boccia-Smith, Esq. (fka Annamaria Boccia-Kovarcik, Esq.) - Chair; William James Cortellessa; Edward Farrelly Smith, III

Broker-Dealers Named

BBVA Securities Incorporated

Professionals

  • Cs: (RK) Brian Kennedy, Law Office of B. Kennedy, New York, NY.
  • Rs: (BBVASInc) M. Lee Johnsey Jr., Balch & Bingham, Birmingham, AL. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Graf v. Janney Montgomery

Allegation II

Forum

FINRA

Allegation III

Docket No

16-02803

Products

Equity

Issue Date

2017-05-12

Situs

New York

State

NY

Clmd Compensatory

75.0

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."

Claim Summary

Cs alleged that her account opening form contained incorrect information in 2008 and that Rs engaged in unsuitable stock transactions in 9/16.

Notes

Pre-Hearing Adjudication -- Full Dismissal. Arbitrator Remarks -- Expungement granted after a hearing on the merits. Explained Award. Case law cited.

Arbitrators

Keith Roberts

Broker-Dealers Named

Janney Montgomery Scott LLC

Professionals

  • Cs: John G. Cataldo, D'Ambrosio Brown LLP, Boston, MA.
  • Rs: (JMSLLC, AD & GS) Paula D. Shaffner, Stradley Ronon et al., Philadelphia, PA. OSC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Rothermich v. UBS Financial

Allegation II

Defamation

Forum

FINRA

Allegation III

WrongTerm

Docket No

14-03253

Products

NP

Issue Date

2017-05-09

Situs

Columbus

State

OH

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."

Claim Summary

Cs alleged that Rs falsely claimed that he violated a firm policy.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Harlita H. Robinson-Tomlinson, CPA, CFA (fka Harlita H. Robinson, CPA, CFA) - Chair; Sandra M. Furman; Erick R. Zanner

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (FDR) Christopher J. Hogan, Zeiger Tigges & Little, Columbus, OH.
  • Rs: (UBSFSInc) J. Michael Riordan & John D. Miller III, McElroy Deutsch et al., Morristown, NJ. OSC.

TypeDisp

SmallClms

Allegation I

Suitability

Short Caption

Hornyak v. Ameriprise Financial

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Negligence

Docket No

15-00273

Products

CommFutures

Issue Date

2016-04-27

Situs

PP

State

PP

Clmd Compensatory

11.9

Total Amt Awarded

15.5

Compensatory Awarded

11.9

Punitive Damage Awarded

0.0

Attorney Fees Awarded

3.6

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Claim Summary

Cs alleged that their broker made an unsuitable recommendation to over-concentrate their retirement savings in a single high-risk investment, an African mining company, SLOUD/LEON.

Notes

Rs Ameriprise Financial Services Inc. was not assessed any portion of the awarded amount. Rs Radcliffe Robert Daly was assessed. This is an Amended Award. Rescission Granted. Arbitrator Remarks.

Arbitrators

Lynn Hirschfeld Brahin, Esq.

Broker-Dealers Named

Ameriprise Financial Services Incorporated

Professionals

  • Cs: David Liebrader, The Law Offices of D. Liebrader Incorporated, Las Vegas, NV.
  • Rs: (AFSInc) Heather J. Melloh, Minneapolis, MN. ISC.
  • Rs: (RRD) None.

TypeDisp

EmployeeMember

Allegation I

Indemnification

Short Caption

Miller v. Raymond James

Allegation II

Forum

FINRA

Allegation III

Docket No

16-02570

Products

NP

Issue Date

2017-05-09

Situs

PP

State

PP

Clmd Compensatory

29.3

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."

Claim Summary

Cs alleged that Rs failed to repay attorney fees incurred by Cs as a result of her litigation to expunge information erroneously placed by Rs on her CRD record.

Notes

None.

Arbitrators

Jane A. Smith, JD

Broker-Dealers Named

Raymond James Financial Services Incorporated

Professionals

  • Cs: (MBM) None.
  • Rs: (RJFSInc) Brandy Pikus, St. Petersburg, FL. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Mondell v. TD Ameritrade

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

16-03058

Products

NP

Issue Date

2017-05-11

Situs

PP

State

PP

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."

Claim Summary

Cs requested expungement of a customer complaint alleging unauthorized and unsuitable trades.

Notes

Arbitrator Remarks -- Expungement granted after a hearing on the merits.

Arbitrators

Michael H. DuBoff, Esq.

Broker-Dealers Named

TD Ameritrade Incorporated

Professionals

  • Cs: (JBM) Owen Harnett, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (TDAInc) Marcia A. Washkuhn, Kutak Rock LLP, Omaha, NE. OSC.

TypeDisp

SmallClms

Allegation I

Suitability

Short Caption

Kassey v. Congelosi

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Docket No

16-03188

Products

VariableAnnuities

Issue Date

2017-05-11

Situs

PP

State

PP

Clmd Compensatory

49.0

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."

Claim Summary

Bare-Bones Summary.

Notes

None.

Arbitrators

Thomas Matthew Madden

Broker-Dealers Named

None.

Professionals

  • Cs: Pro se.
  • Rs: (RMC) Brian J. Palmeri, Winget Spadafora & Schwartzberg, Stamford, CT.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

Oppenheimer & Company v. Fayad

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

17-00204

Products

PromissoryNote

Issue Date

2017-05-10

Situs

PP

State

PP

Clmd Compensatory

223.7

Total Amt Awarded

225.2

Compensatory Awarded

223.7

Punitive Damage Awarded

Attorney Fees Awarded

1.5

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Claim Summary

Bare-Bones Summary.

Notes

Arbitrator Remarks.

Arbitrators

Mary P. Bass

Broker-Dealers Named

Oppenheimer & Company Incorporated

Professionals

  • Cs: (O&CInc) Travis McGregor, New York, NY. ISC.
  • Rs: (TMF) No-show.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Munbilla Investments v. Neuberger Berman

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

15-02588

Products

CorpDebt

Issue Date

2017-05-08

Situs

Dallas

State

TX

Clmd Compensatory

1000.0

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."

Claim Summary

Cs alleged that two of Cs' accounts, in which Rs exercised complete discretion, were over-concentrated in high-yield energy bonds.

Notes

Sanctions imposed. All-Public Panel. Arbitrator Remarks -- Expungement granted after a hearing on the merits.

Arbitrators

G. Maynard Green, JD - Chair; Karen Roberts Washington, Esq. (fka Karen Colleen Washington, Esq.); Joseph G. Werner

Broker-Dealers Named

Neuberger Berman LLC

Professionals

  • Cs: David R. Clouston & Leslye E. Moseley, Sessions Fishman et al., Dallas, TX.
  • Rs: (NBLLC & RJS) Victor A. Machcinski Jr., Murphy & McGonigle, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Leven v. UBS Financial

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

16-02075

Products

ARS

Issue Date

2017-05-09

Situs

Houston

State

TX

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."

Claim Summary

Cs requested expungement of a customer complaint alleging that auction rate securities Cs recommended to him became illiquid.

Notes

Arbitrator Remarks -- Expungement granted after a hearing on the merits.

Arbitrators

Daniel J. Pagnano, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (WL) Scott E. Rahn, Rahn Muntz O'Grady LLP, Los Angeles, CA.
  • Rs: (UBSFSInc) Katie M. Kimbrell, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp

EmployeeCustomer

Allegation I

Expungement(CRD)

Short Caption

Whitney v. NYLife Securities

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

16-02429

Products

NP

Issue Date

2017-05-12

Situs

Houston

State

TX

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."

Claim Summary

Bare-Bones Summary.

Notes

Majority Public Panel.

Arbitrators

Daniel J. Pagnano, Esq. - Chair; Elena Dilorio; Curtis Jay Meador

Broker-Dealers Named

NYLife Securities LLC

Professionals

  • Cs: (KCW) None.
  • Rs: (NYLSLLC) Mike G. Brown, Figari & Davenport, Dallas, TX. OSC.
  • Rs: No-show -- Did not voluntarily submit to arbitration.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Brown v. Merrill Lynch

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

16-00570

Products

ETFs

Issue Date

2017-05-11

Situs

Seattle

State

WA

Clmd Compensatory

300.0

Total Amt Awarded

Equity

Compensatory Awarded

Equity

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."

Claim Summary

The causes of action relate to Gulf Keystone Petroleum Limited and several triple leveraged Exchange Traded Funds, including Powershares ETF, TR Dynamic Software Port, Small Cap Bull 3x Shares, Proshares Ultra Dow 30, Proshares Ultrashort QQQ and Proshares TR Ultra S&P 500.

Notes

This is a Stipulated Award. All-Public Panel. Arbitrator Remarks -- Expungement granted.

Arbitrators

Joseph C. Roberts, Esq. - Chair; Clydia Jean Cuykendall; Kenneth James Pedersen

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

  • Cs: Jonathan Kurta, Fitapelli Kurta LLP, New York, NY.
  • Rs: (MLPFSInc) Jennifer R. Willey, Crowe & Dunlevy, Oklahoma City, OK. OSC.
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