UPDATE : ARBchek

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

New Award Briefs

Report Dated: 2017-03-24

UA 2017-10

Primary Sort

Secondary Sort

Dispute Information

Damages*

TypeDisp

CustomerEmployee

Allegation I

Churning

Short Caption

Hopi Tribe v. Lawton

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Misappropriatn

Docket No

17-00439

Products

DirectInvesmts; HedgeFunds; CDOs; Derivatives; Warrants; MutualFunds; REITs; MuniSecs; REITs; ARS; Margin

Issue Date

2017-03-13

Situs

Phoenix

State

AZ

Clmd Compensatory

32088.7

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."

Claim Summary

The causes of action in the original claim related to investments in hedge funds, collateralized debt obligations, stock and stock warrants, a municipal bonds private placements, auction rate securities, interest rate swap products and other securities. Here, the claims against one of the Rs brokers were severed from the main case to permit him to see expungement of the arbitration.

Notes

This is an Amended Related Award. Panel composition issue. Rescission Requested. Severance. Arbitrator Remarks -- Expungement granted after a hearing on the merits. Explained Award.

People & Entities

Arbitrators

Marc Kalish, JD

Broker-Dealers Named

None.

Professionals

  • Cs: Norberto J. Cisneros, Maddox Isaacson & Cisneros, Las Vegas, NV.
  • Rs: (KDL) Edwin A. Barkel & Jesse B. Simpson, Lewis Roca et al., Phoenix, AZ.

TypeDisp

CustomerMember

Allegation I

FailToObey

Short Caption

Dube v. Wells Fargo

Allegation II

BreachContract

Forum

FINRA

Allegation III

Negligence

Docket No

12-00832

Products

VariableAnnuities

Issue Date

2017-03-10

Situs

Hartford

State

CT

Clmd Compensatory

40.1

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

The causes of action related to the Hartford Leaders Variable Annuity.

Notes

Pre-Hearing Adjudication -- Full Dismissal.

Arbitrators

Sean Alan D'Amico

Broker-Dealers Named

Wells Fargo Advisors LLC

Professionals

  • Cs: Thomas P. Willcutts, Willcutts Law Group, Hartford, CT.
  • Rs: (WFALLC) Deirdre Wolff, St. Louis, MO. ISC.

TypeDisp

EmployeeMember

Allegation I

Compensatn

Short Caption

Carroll v. Morgan Stanley

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

16-00314

Products

NP

Issue Date

2017-03-07

Situs

Washington

State

DC

Clmd Compensatory

425.3

Total Amt Awarded

365.0

Compensatory Awarded

365.0

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

Christopher M. McMurray, Esq. - Chair; Olivia Milbank Farrar, JD; Michael R. Snow

Broker-Dealers Named

Morgan Stanley Smith Barney FA Notes Holdings LLC; Morgan Stanley Smith Barney LLC

Professionals

  • Cs: (BBC) Robert A.W. Boraks, Kalbian Hagerty LLP, Washington, DC.
  • Rs: (MSSBLLC & MSSBFANHLLC) David J. Sensenig, AR Park LLC, Richmond, VA. OSC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Montalvo v. Wells Fargo

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

15-01280

Products

NP

Issue Date

2017-03-09

Situs

Orlando

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."

Claim Summary

Bare-Bones Summary.

Notes

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

Arbitrators

Mark R. Topper, Esq. - Chair; Ronald Charles Waters; Thomas Roe Oldt

Broker-Dealers Named

Wells Fargo Advisors LLC

Professionals

  • Cs: Curtis Carlson, Carlson & Associates, Miami, FL.
  • Rs: (WFALLC) Steven A. Siegel, Fisher & Phillips, Fort Lauderdale, FL. OSC.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

Ameriprise Financial v. Mewborn

Allegation II

BreachContract

Forum

FINRA

Allegation III

UnjustEnrichment

Docket No

16-00116

Products

PromissoryNote

Issue Date

2017-03-10

Situs

Tampa

State

FL

Clmd Compensatory

21.4

Total Amt Awarded

27.7

Compensatory Awarded

21.4

Punitive Damage Awarded

Attorney Fees Awarded

4.8

* 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 breached a promissory note dated 7/22/08.

Notes

Sanctions imposed. Arbitrator Remarks.

Arbitrators

Mimi B. Osiason

Broker-Dealers Named

Ameriprise Financial Services Incorporated

Professionals

  • Cs: (AFSInc) Michael S. Taaffe & Scott A. LaPorta & Ryan S. Nichols, Shumaker Loop & Kendrick, Sarasota, FL. OSC.
  • Rs: (JWM) None.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Pfeiffer v. Merrill Lynch

Allegation II

Supervision

Forum

FINRA

Allegation III

BreachContract

Docket No

16-00220

Products

DirectInvesmts

Issue Date

2017-03-07

Situs

Tampa

State

FL

Clmd Compensatory

200.0

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

The causes of action related to investments in oil and gas stocks, including Memorial Partners, Energy Transfer Partners and Breitburn Energy.

Notes

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

Arbitrators

David F. Simon, Esq. - Chair; Millicent B. Athanason; Brian Patrick Quinn

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

  • Cs: Lars K. Soreide, Soreide Law Group, Pompano Beach, FL.
  • Rs: (MLPFSInc) Regina Martorana, Bressler Amery & Ross, New York, NY. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Hernandez Ferrari v. UBS Financial

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

16-00290

Products

MutualFunds; Equity

Issue Date

2017-03-09

Situs

Miami

State

FL

Clmd Compensatory

1000.0

Total Amt Awarded

505.0

Compensatory Awarded

505.0

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 overconcentration and elder abuse, among other things. The causes of action related to investments in UBS Puerto Rico Fixed Income Funds and Tax-Free Puerto Rico Funds, as well as Puerto Rico bank stocks underwritten by Rs UBS.

Notes

Big $s. All-Public Panel. Rescission Requested.

Arbitrators

Marc T. Danon, Esq. - Chair; Stuart K. Furman; Kenrick Albert Pratt

Broker-Dealers Named

UBS Financial Services Incorporated of Puerto Rico; UBS Financial Services Incorporated

Professionals

  • Cs: Barry Blum & Melanie S. Cherdack, Genovese Joblove & Battista, Miami, FL.
  • Rs: (UBSFSInc & UBSFSIncPR) Sara Soto & Alise Johnson Henry & Mark Simms, Bressler Amery & Ross, Fort Lauderdale, FL. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Freese v. Waveland Capital

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

15-00770

Products

DirectInvesmts

Issue Date

2017-03-06

Situs

Des Moines

State

IA

Clmd Compensatory

120.0

Total Amt Awarded

70.0

Compensatory Awarded

70.0

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 their broker recommended that they purchase Neomatrix LLC, a highly speculative and aggressive private placement that was not suitable for them, as they were not accredited investors.

Notes

All-Public Panel.

Arbitrators

Thomas F. Mahoney, Esq. - Chair; Arthur Richard Tow, Esq.; Mark A. Frankel, JD

Broker-Dealers Named

Waveland Capital Partners LLC

Professionals

  • Cs: Bruce D. Oakes, Oakes & Fosher, St. Louis, MO.
  • Rs: (WCPLLC) Jeffrey S. Kob & Brett G. Evans, Evans & Kob, Tustin, CA. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Moran v. UBS Financial

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

16-03595

Products

Equity

Issue Date

2017-03-06

Situs

Chicago

State

IL

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 verbal customer complaint related to the purchase of SAB Miller PLC stock in GBP on the London Stock Exchange at the request of the customer.

Notes

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

Arbitrators

Susan L. Walker, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (SPM) David I. Hantman, Bressler Amery & Ross, New York, NY.
  • Rs: (UBSFSInc) Kenneth Crowley, Weehawken, NJ. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Williamson v. Raymond James

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

16-02547

Products

Options; Margin

Issue Date

2017-03-07

Situs

Charlotte

State

NC

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 two customer complaints, one alleging that he failed to inform the customers of the risks of margin and options trading and that the customers wanted conservative stock purchases and the other alleging that Cs recommended an unsuitable insurance policy.

Notes

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

Arbitrators

Michael J. Ahlstrom, Esq.

Broker-Dealers Named

Raymond James Financial Services Incorporated

Professionals

  • Cs: (DBW) Dochtor Kennedy, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (RJFSInc) Brandy Pikus, St. Petersburg, FL. ISC.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

Davis v. Axiom Capital

Allegation II

Forum

FINRA

Allegation III

Docket No

16-00842

Products

Equity

Issue Date

2017-03-08

Situs

Newark

State

NJ

Clmd Compensatory

56.9

Total Amt Awarded

36.7

Compensatory Awarded

36.7

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 Xi3 Corp. securities.

Notes

None.

Arbitrators

Louis H. Miron, Esq.

Broker-Dealers Named

Axiom Capital Management Incorporated

Professionals

  • Cs: Ira M. Belsky, Attorney-at-Law, Franklin Lakes, NJ.
  • Rs: (ACMInc) Paul R. DeFilippo, Wollmuth Maher & Deutsch, New York, NY. OSC.
  • Rs: (GJO) None.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

Pryor v. Wells Fargo

Allegation II

Supervision

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

16-01123

Products

Equity; Margin

Issue Date

2017-03-09

Situs

Albuquerque

State

NM

Clmd Compensatory

413.3

Total Amt Awarded

357.0

Compensatory Awarded

357.0

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

The causes of action related to investments in energy and housing products and to the use of a margin line of credit.

Notes

All-Public Panel.

Arbitrators

Walter J. Huntley, III - Chair; George W. Harding; Herbert Liberman

Broker-Dealers Named

Wells Fargo Advisors LLC

Professionals

  • Cs: Jonathan E. Neuman, Law Offices of J.E. Neuman, Fresh Meadows, NY.
  • Rs: (WFALLC) Geoff Beckham, Wells Fargo Law Department, San Francisco, CA. ISC.

TypeDisp

EmployeeMember

Allegation I

WrongTerm

Short Caption

Chervil v. Allstate Financial

Allegation II

Compensatn

Forum

FINRA

Allegation III

BreachContract

Docket No

15-02217

Products

NP

Issue Date

2017-03-08

Situs

New York

State

NY

Clmd Compensatory

326.1

Total Amt Awarded

30.0

Compensatory Awarded

30.0

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

Bare-Bones Summary.

Notes

Rs Allstate Insurance Company, Wilford James Kavanaugh, David John Prendergast, Matthew Evan Winter and Vincent Fusco were not assessed any portion of the awarded amount. Rs Allstate Financial Services LLC was assessed. Directed Verdict -- Party Dismissal.

Arbitrators

Sanford S. Stevens, Esq. - Chair; A. Rene Hollyer, Sr.; Kim Daly Kelly

Broker-Dealers Named

Allstate Financial Services LLC; Allstate Insurance Company

Professionals

  • Cs: (LC) None.
  • Rs: (AFSLLC, AICo, WJK, DJP, MEW & VF) J. Scott Humphrey, Seyfarth Shaw LLP, Chicago, IL. OSC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Hepner v. Chimera Securities

Allegation II

Defamation

Forum

FINRA

Allegation III

Compensatn

Docket No

16-01029

Products

NP

Issue Date

2017-03-09

Situs

New York

State

NY

Clmd Compensatory

576.6

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."

Claim Summary

Bare-Bones Summary.

Notes

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

Arbitrators

Stephen A. Weiner, Esq.

Broker-Dealers Named

Chimera Securities LLC

Professionals

  • Cs: (ZH) Kevin D. Galbraith, The Galbraith Law Firm, New York, NY.
  • Rs: (CSLLC) Michael P. Gilmore, Moss & Gilmore, Mineola, NY. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Grallnick v. Charles Schwab

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

16-01441

Products

*

Issue Date

2017-03-08

Situs

Philadelphia

State

PA

Clmd Compensatory

700.0

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

Bare-Bones Summary.

Notes

Pre-Hearing Adjudication -- Full Dismissal. All-Public Panel. Arbitrator Remarks -- Explained Award.

Arbitrators

Laura A. Kaster - Chair; Rochelle K. Kaplan, Esq.; Gerald S. Smith

Broker-Dealers Named

Charles Schwab & Company Incorporated

Professionals

  • Cs: Jonathan E. Neuman, Law Offices of J.E. Neuman, Fresh Meadows, NY.
  • Rs: (CS&CInc) Kevin Lewis, San Francisco, CA. ISC.

TypeDisp

SmallClms

Allegation I

Suitability

Short Caption

Blumenthal v. Benanti

Allegation II

Supervision

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

16-01643

Products

Equity

Issue Date

2017-03-08

Situs

PP

State

PP

Clmd Compensatory

22.3

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

The causes of action related to Virnetx Holding Corporation and other securities.

Notes

None.

Arbitrators

Richard W. Cutler, Esq.

Broker-Dealers Named

Laidlaw & Company (UK) Limited

Professionals

  • Cs: Jennifer Tarr, Cold Spring Advisory Group, New York, NY.
  • Rs: (JC & L&CUKLtd) Ross David Carmel, Carmel Milazzo & DiChiara LLP, New York, NY. OSC.
  • Rs: (JAB & TS) No-show.
  • Rs: (AW) None.

TypeDisp

SmallClms

Allegation I

UnauthTdg

Short Caption

Olenyik v. Ganun

Allegation II

Negligence

Forum

FINRA

Allegation III

Operations

Docket No

16-01974

Products

*

Issue Date

2017-03-06

Situs

PP

State

PP

Clmd Compensatory

34.0

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

Bare-Bones Summary.

Notes

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

Arbitrators

Philip Levine, CPA, Esq.

Broker-Dealers Named

None.

Professionals

  • Cs: Pro se.
  • Rs: (JPG & JS) Joseph Calabrese, Morgan Stanley Wealth Management, New York, NY.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

Wells Fargo v. Abraham

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

16-02646

Products

PromissoryNote

Issue Date

2017-03-08

Situs

PP

State

PP

Clmd Compensatory

143.1

Total Amt Awarded

145.6

Compensatory Awarded

143.1

Punitive Damage Awarded

Attorney Fees Awarded

2.5

* 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

Cs alleged that Rs failed to repay amounts due on two promissory notes, dated 6/15/12 and 10/18/13.

Notes

Arbitrator Remarks.

Arbitrators

Allan R. Lazor, Esq.

Broker-Dealers Named

Wells Fargo Advisors LLC

Professionals

  • Cs: (WFALLC) Jack D. Ballard & Martha F. McDugald, Ballard & Littlefield, Houston, TX. OSC.
  • Rs: (LA) No-show.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

First Standard v. Benanti

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

16-02722

Products

PromissoryNote

Issue Date

2017-03-10

Situs

PP

State

PP

Clmd Compensatory

16.7

Total Amt Awarded

16.7

Compensatory Awarded

16.7

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

Richard E. Castiglioni

Broker-Dealers Named

First Standard Financial Company LLC

Professionals

  • Cs: (FSFCo) Michael S. Colombo, StreetWide Asset Recovery Group Incorporated, Hazlet, NJ. OSC.
  • Rs: (JAB) No-show.

TypeDisp

SmallClms

Allegation I

Suitability

Short Caption

Struble v. Raymond James

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

16-02915

Products

*

Issue Date

2017-03-07

Situs

PP

State

PP

Clmd Compensatory

36.3

Total Amt Awarded

29.3

Compensatory Awarded

29.3

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

None.

Arbitrators

Sam Antar, Esq.

Broker-Dealers Named

Raymond James Financial Services Incorporated

Professionals

  • Cs: Mark A. Tepper, M.A. Tepper PA, Fort Lauderdale, FL.
  • Rs: (RJFSInc) Brandy Pikus, St. Petersburg, FL. ISC.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

KBS Capital v. Schenk

Allegation II

BreachContract

Forum

FINRA

Allegation III

UnjustEnrichment

Docket No

16-02951

Products

PromissoryNote

Issue Date

2017-03-09

Situs

PP

State

PP

Clmd Compensatory

40.9

Total Amt Awarded

40.9

Compensatory Awarded

40.9

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 failed to repay advances against his unearned commissions.

Notes

None.

Arbitrators

Jeffry Mark Bauer, Esq.

Broker-Dealers Named

KBS Capital Markets Group LLC

Professionals

  • Cs: (KBSCMGLLC) Eric S. Beane, DLA Piper LLP, Los Angeles, CA. OSC.
  • Rs: (AS) Donald R. McNeil, Heley Duncan & Melander, Bloomington, MN.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

Ameriprise Financial v. Ickes

Allegation II

BreachContract

Forum

FINRA

Allegation III

Misappropriatn

Docket No

16-03418

Products

PromissoryNote

Issue Date

2017-03-10

Situs

PP

State

PP

Clmd Compensatory

38.2

Total Amt Awarded

43.4

Compensatory Awarded

38.2

Punitive Damage Awarded

Attorney Fees Awarded

3.0

* 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

Arbitrator Remarks.

Arbitrators

James W. (Jim) Geiger

Broker-Dealers Named

Ameriprise Financial Services Incorporated

Professionals

  • Cs: (AFSInc) Michael S. Taaffe & Scott LaPorta & Ryan S. Nichols, Shumaker Loop & Kendrick, Sarasota, FL. OSC.
  • Rs: (JSI) No-show.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

Gil-Quintero v. UBS Financial

Allegation II

Supervision

Forum

FINRA

Allegation III

BreachContract

Docket No

14-01936

Products

MutualFunds

Issue Date

2017-03-06

Situs

San Juan

State

PR

Clmd Compensatory

100.0

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

The causes of action related to Puerto Rico closed-end funds invested predominantly in Puerto Rico bonds.

Notes

Sanctions imposed. Rescission Requested. All-Public Panel.

Arbitrators

Edward R. Niederriter, Esq. - Chair; James F. Major, DDS; Debra Black Leo

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated; UBS Financial Services Incorporated of Puerto Rico; UBS Financial Services Incorporated

Professionals

  • Cs: Stefan Apotheker & Jeffrey Sonn, Sonn & Erez, Miami, FL. and Eliezer A. Aldarondo-Lopez, Aldarondo & Lopez-Bras, Guaynabo, PR.
  • Rs: (UBSFSInc) Jaime H. Scivley, Bressler Amery & Ross, Birmingham, AL. OSC.
  • Rs: (UBSFSIncPR) Roberto C. Quinones-Rivera, McConnell Valdes LLC, San Juan, PR. OSC.
  • Rs: (MLPFSInc) Keith Olin & Jonathan C. Schwartz, Bressler Amery & Ross, Fort Lauderdale, FL. OSC.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

Morgan Stanley v. Brockman

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

16-01256

Products

PromissoryNote

Issue Date

2017-03-07

Situs

Columbia

State

SC

Clmd Compensatory

116.7

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

Cs alleged that Rs failed to repay sums due on a promissory note dated 5/8/13.

Notes

This is a Stipulated Award.

Arbitrators

Robert G. Bannon

Broker-Dealers Named

Morgan Stanley Smith Barney FA Notes Holdings LLC; Morgan Stanley Smith Barney LLC

Professionals

  • Cs: (MSSBLLC & MSSBFANHLLC) Robert L. Herskovits, Herskovits PLLC, New York, NY. OSC.
  • Rs: (TJB) None.
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