UPDATE : ARBchek

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

New Award Briefs

Report Dated: 2019-06-18

2019-24

Primary Sort

Secondary Sort

Dispute Information

Damages*

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Frager v. Centaurus Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

18-03406

Products

NP

Issue Date

2019-05-31

Situs

San Diego

State

CA

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 awards Claimant broker expungement of reference to a bankruptcy court adversary proceeding from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

People & Entities

Arbitrators

Mitchell Lee Lathrop

Broker-Dealers Named

Centaurus Financial Incorporated

Professionals

  • Cs: (MRF) R. Craig Zafis, R.C. Zafis APC, San Diego, CA.
  • Rs: (CFInc) Michael Leahy & Michael West, Anaheim, CA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Levy v. Securities America

Allegation II

Forum

FINRA

Allegation III

Docket No

18-03682

Products

NP

Issue Date

2019-05-31

Situs

Los Angeles

State

CA

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 appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Robert E. Jenks

Broker-Dealers Named

Securities America Incorporated

Professionals

  • Cs: (BML) Frances Menzer, HLBS Law, Westminster, CO.
  • Rs: (SAInc) Chad Weaver, Freeman Mathis & Gary, Hermosa Beach, FL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

O'Connor v. Merrill Lynch

Allegation II

Forum

FINRA

Allegation III

Docket No

18-03982

Products

Annuities

Issue Date

2019-05-28

Situs

San Francisco

State

CA

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

Registered representative is awarded expungement of a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Thomas D. Reese, Esq.

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

  • Cs: (TXO) Michelle Atlas, HLBS Law, Westminster, CO.
  • Rs: (MLPFSInc) Patrick K. Mulligan, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Robinson v. Wells Fargo

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

18-02907

Products

NP

Issue Date

2019-05-30

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

An Arbitrator explains in detail why he has awarded Claimant broker Reformation of his Form U-5 record citing that said broker suffered a severe economic impact, as well as damages.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Mona Koppel Mitnick, Esq.

Broker-Dealers Named

Wells Fargo Clearing Services LLC

Professionals

  • Cs: (DTR) Tosh D. Grebenik, FA Expungement LLC, Denver, CO.
  • Rs: (WFCSLLC) Jeffrey D. Rodgers Jr., Wells Fargo Legal Department, St. Louis, MO. ISC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Gelbach v. Merrill Lynch

Allegation II

Misreprestn

Forum

FINRA

Allegation III

BreachContract

Docket No

18-00570

Products

Equity

Issue Date

2019-05-29

Situs

Boca Raton

State

FL

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

Originally, the Panel granted Respondent's Pre-Hearing Motion to Dismiss the customers claim pursuant to FINRA Rule 12206 (Six-year Eligibility Rule). However, since the Arbitrator Chair dissented with respect to the ruling on the Motion, the decision to grant said Motion was not unanimous. As such, the Panel rescinded their prior ruling and directed FINRA to reopen the case and reset the evidentiary hearing.

Notes

This is a Modified Award. Arbitrator Remarks -- Arbitrator dissents without explanation. Explained Award.

Arbitrators

Herbert Branitsky, Esq. (Dissents) - Chair; Laurence V. Senn; Glenn Jerrold Waldman

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

  • Cs: Michael S. Taaffe, Shumaker Loop & Kendrick, Sarasota, FL.
  • Rs: (MLPFSInc) Leonel Peraza, Bressler Amery & Ross, Miami, FL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Shanawany v. Ameriprise Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

18-03708

Products

VariableAnnuities

Issue Date

2019-05-28

Situs

Miami

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 awarded expungement of a customer complaint from his CRD record. The complaint relates to a customer's investment in a variable annuity.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Nancy J. Cliff, Esq.

Broker-Dealers Named

Ameriprise Financial Services Incorporated

Professionals

  • Cs: (RS) Harris Freedman, Of Counsel, HLBS Law, Westminster, CO.
  • Rs: (AFSInc) Gerry Giurato, Murphy & Anderson, Jacksonville, FL. OSC.

TypeDisp

CustomerMember

Allegation I

Churning

Short Caption

Best v. Empire Asset

Allegation II

Suitability

Forum

FINRA

Allegation III

Supervision

Docket No

18-03340

Products

Options; Margin

Issue Date

2019-05-28

Situs

Atlanta

State

GA

Clmd Compensatory

2825.6

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."

Case Summary

The Panel explains why they dismissed customer's claims as a sanction for his failure to comply with their Order relating to the granting of Respondents Motion to Strike Statement of Claim pursuant to FINRA Rules 12503(a) and 12208(a).

Notes

Pre-Hearing Adjudication -- Full dismissal. Sanctions imposed. All-Public Panel. Arbitrator Remarks -- Explained Award.

Arbitrators

William Barker Brown, Esq. - Chair; Judith Stilz Ogden, Esq.; Charles E. White

Broker-Dealers Named

Empire Asset Management Company

Professionals

  • Cs: Jennifer Tarr, Cold Spring Advisory Group, New York, NY.
  • Rs: (EAMCo & GLZ) Mickey B. Wright, Lloyd Gray et al., Birmingham, AL. OSC.
  • Rs: (BFJ, VMP & TS) Kristi L. Gavalier, Brown Law LLP, Raleigh, NC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

West Chicago Police Fund v. Edward Jones

Allegation II

UnjustEnrichment

Forum

FINRA

Allegation III

BreachContract

Docket No

18-00937

Products

MutualFunds

Issue Date

2019-05-31

Situs

Chicago

State

IL

Clmd Compensatory

0.0

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

A customer fund alleging suitability and breach of contract, among other things, voluntarily withdraws its claim against Respondent broker-dealer. Non-Party broker is awarded expungement of this matter from his CRD record. The customer's claim involved the purchase of various mutual funds.

Notes

Majority Public Panel. Arbitrator Remarks -- Expungement granted.

Arbitrators

Ray J. Grzebielski, Esq. - Chair; Adrian E. Mazar; Robert Biondi

Broker-Dealers Named

Edward Jones

Professionals

  • Cs: Jeffrey R. Finley, Schneider Wallace et al., Scottsdale, AZ.
  • Rs: (EDJ&CLP) Alexander M. Madrid, McGuire Woods LLP, Pittsburgh, PA. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Harper v. MSI Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00174

Products

NP

Issue Date

2019-05-28

Situs

Chicago

State

IL

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 broker loses his request for expungement of a customer complaint from his CRD record after the Arbitrator grants Respondent broker-dealer's Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 13504 (release of claims).

Notes

Pre-Hearing Adjudication -- Full dismissal. Arbitrator Remarks -- Explained Award.

Arbitrators

Lee Hugh Goodman, Esq.

Broker-Dealers Named

MSI Financial Services Incorporated

Professionals

  • Cs: (JBH) Dochtor Kennedy & Christopher Cummins, AdvisorLaw LLC, Westminster, CO.
  • Rs: (MSIFSInc) Martin Harris, Harris & Affiliates Limited, Chicago, IL. OSC.

TypeDisp

CustomerMember

Allegation I

TortiousInterference

Short Caption

Feldman v. optionsXpress Incorporated

Allegation II

Forum

FINRA

Allegation III

Docket No

17-01393

Products

NP

Issue Date

2019-05-29

Situs

Baltimore

State

MD

Clmd Compensatory

5911.9

Total Amt Awarded

1558.0

Compensatory Awarded

1558.0

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 All-Public Panel finds Respondent broker-dealer liable for $1,558,000 in compensatory damages as reimbursement of attorney fees for Cs defense of the SEC litigation. The customer's cause of action relates to his involvement in litigation with the SEC over the failure to deliver securities traded in Cs account with Respondent.

Notes

Big $s. All-Public Panel. Arbitrator Remarks -- Explained Award.

Arbitrators

Joseph J. Dougherty, JD- Chair; James A. Hayes; John Nelson Greer

Broker-Dealers Named

optionsXpress Incorporated

Professionals

  • Cs: Gregory T. Lawrence & Daniel J. McCartin & Michael J. Silvestri, Conti Fenn & Lawrence, Baltimore, MD.
  • Rs: (oXInc) Stephen J. Senderowitz & William E. Walsh & Jacqueline A. Giannini, Dentons US LLP, Chicago, IL. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Miller v. Money Concepts

Allegation II

Misreprestn

Forum

FINRA

Allegation III

UnjustEnrichment

Docket No

18-01379

Products

Annuities; LifeInsurance

Issue Date

2019-05-29

Situs

St. Louis

State

MO

Clmd Compensatory

729.0

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 voluntarily withdraw their claims against Respondent broker-dealer and two brokers relating to their investment in Ameritas Whole Life Insurance Policy and a Nationwide Annuity. One Respondent broker is awarded expungement of this matter from his CRD record.

Notes

All-Public Panel. Arbitrator Remarks -- Expungement granted.

Arbitrators

Robert J. Scafuri, Esq. - Chair; Julius Z. Frager; Lynn Hirschfeld Brahin, Esq.

Broker-Dealers Named

Money Concepts Capital Corporation

Professionals

  • Cs: Vonne L. Karraker, Manley Karraker & Karraker, Farmington, MO.
  • Rs: (MCCCorp, RGR & KOP) Kathy M. Klock, Akerman LLP, West Palm Beach, FL. OSC.

TypeDisp

CustomerMember

Allegation I

Fraud

Short Caption

Hamill v. Intl Custody & Clearing

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Docket No

17-02855

Products

DirectInvesmts

Issue Date

2019-05-30

Situs

Omaha

State

NE

Clmd Compensatory

3405.1

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."

Case Summary

Two customers alleging elder abuse, among other things lose their claims against a group of Respondent broker-dealers and brokers. The customers claims stem from their allegation that brokers Cline, Hopper and others fraudulently solicited millions of dollars from them for oil and gas investments made through Source Capital and Blue Ridge Group.

Notes

Pre-Hearing Adjudication -- Party Dismissal. Clrg BD dispute. All-Public Panel.

Arbitrators

Michael D. Fitzgerald, Esq. - Chair; Michael S. Matek, Esq.; Mark S. Foster, Esq.

Broker-Dealers Named

Intl Custody & Clearing Solution Incorporated; Sterne Agee & Leach Incorporated; Source Capital Group Incorporated; Blue Ridge Group Incorporated; SIPC

Professionals

  • Cs: Pro se.
  • Rs: (DEA & JK) Debra A. Jenks, Jenks & Harvey, West Palm Beach, FL.
  • Rs: (JDB, RJB, KLC & BGS) Travis N. Creed, Attorney-at-Law, Bowling Green, KY.
  • Rs: (JSH) Michael A. Valenti, Valenti Hanley PLLC, Louisville, KY.
  • Rs: (IC&CSInc & SA&LInc) Peter J. Teply, Rumberger Kirk & Caldwell, Birmingham, AL. OSC.
  • Rs: (RHK & BCR) Robert J. Harvey, Jenks & Harvey, West Palm Beach, FL.
  • Rs: (RF, DWH & RWN) None.
  • Rs: (BRGInc, DRB, TNC, SCL, HP, SCGInc & SIPC) No-show. -- Did not voluntarily submit to arbitration.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

McConnell v. Merrill Lynch

Allegation II

Defamation

Forum

FINRA

Allegation III

Compensatn

Docket No

18-03234

Products

NP

Issue Date

2019-05-31

Situs

Newark

State

NJ

Clmd Compensatory

2055.6

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."

Case Summary

A broker seeking Reformation of her Form U-5 record and over $2 million in damages relating to unpaid compensation, loses her claim after the Panel granted Respondent broker-dealer's Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 13206 (Six-year Eligibility Rule for Industry Disputes).

Notes

Pre-Hearing Adjudication -- Full dismissal.

Arbitrators

Sam Antar, Esq. - Chair; James M. Rhodes; Joan Marie Chiusano

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

  • Cs: (SKM) None.
  • Rs: (MLPFSInc) Justin Condit, Bressler Amery & Ross, Florham Park, NJ. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Raia v. GunnAllen Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

18-02298

Products

NP

Issue Date

2019-05-31

Situs

New York

State

NY

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 loses his request for expungement of three customer disputes from his CRD record.

Notes

None.

Arbitrators

Martin A. Edelstein, Esq.

Broker-Dealers Named

GunnAllen Financial Incorporated; JP Turner & Company LLC

Professionals

  • Cs: (JJR) Michael Bessette, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (GAFInc) Soneet R. Kapila, Fort Lauderdale, FL. ISC.
  • Rs: (JPT&CLLC) Jeremy Carr, Cetera Financial Group, El Segundo, CA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Cole v. JP Morgan

Allegation II

Forum

FINRA

Allegation III

Docket No

18-03265

Products

Equity

Issue Date

2019-05-30

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

A broker seeking expungement of eight customer complaints from his CRD record is awarded expungement of only seven.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Jill Pilgrim, Esq.

Broker-Dealers Named

JP Morgan Securities LLC; Morgan Stanley

Professionals

  • Cs: (RSC) Irwin Weltz, Weltz Law PC, Mineola, NY.
  • Rs: (JPMSLLC) Thomas J. Cahill, Satterlee Stephens LLP, New York, NY.
  • Rs: (MSSBLLC) Jeremy S. Winer, New York, NY. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Montagnesi v. Deutsche Bank

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

18-03618

Products

NP

Issue Date

2019-05-28

Situs

New York

State

NY

Clmd Compensatory

24.5

Total Amt Awarded

Equity

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

Claimant broker is awarded Reformation of false, misleading, inaccurate, erroneous and defamatory language appearing on her Form U-5 record.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Albert Rizzo

Broker-Dealers Named

Deutsche Bank Securities Incorporated

Professionals

  • Cs: (DM) Kevin P. Conway, Conway & Conway, New York, NY.
  • Rs: (DBSInc) Ariel P. Cannon, Dewey Pegno & Kramarsky, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Feliz v. HSBC Securities

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

18-04300

Products

NP

Issue Date

2019-05-28

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

The Panel granted Respondent broker-dealer's Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 13206 (Six-year Eligibility Rule for Industry Disputes). The broker's claim related to his request for Reformation of his Form U-5 record.

Notes

Pre-Hearing Adjudication -- Full Dismissal.

Arbitrators

Albert Rizzo - Chair; Royce Russell, Esq.; Christian Leslie Billet

Broker-Dealers Named

HSBC Securities (USA) Incorporated

Professionals

  • Cs: (RKF) None.
  • Rs: (HSBCSUSAInc) Allan S. Bloom & Austin McLeod, Proskauer Rose LLP, New York, NY. OSC.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

Spartan Capital v. Siliato

Allegation II

BreachContract

Forum

FINRA

Allegation III

UnjustEnrichment

Docket No

18-04311

Products

PromissoryNote

Issue Date

2019-05-31

Situs

New York

State

NY

Clmd Compensatory

30.8

Total Amt Awarded

30.8

Compensatory Awarded

30.8

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

Respondent broker is held liable to Claimant broker-dealer for the amounts due and owing pursuant to a Promissory Note and for his failure to repay fees and advances.

Notes

None.

Arbitrators

Karimu F. Hill-Harvey, Esq.

Broker-Dealers Named

Spartan Capital Securities LLC

Professionals

  • Cs: (SCSLLC) Matthew Fiorovanti, Giordano Halleran & Ciesla, Red Bank, NJ. OSC.
  • Rs: (MAS) None.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Liberatore v. HD Vest

Allegation II

Forum

FINRA

Allegation III

Docket No

18-04016

Products

Annuities

Issue Date

2019-05-31

Situs

Pittsburgh

State

PA

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

Registered representative is awarded expungement of a customer complaint from her CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Steven T. Stern, Esq.

Broker-Dealers Named

HD Vest Investment Services Incorporated

Professionals

  • Cs: (IGL) Michael J. Betts, M.J. Betts LLC, Pittsburgh, PA.
  • Rs: (HDVISInc) Eric J. Chartan, Irving, TX. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Durante v. TFS Securities

Allegation II

Forum

FINRA

Allegation III

Docket No

18-04410

Products

Annuities

Issue Date

2019-05-28

Situs

Philadelphia

State

PA

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 a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Guillermo L. Bosch, Esq.

Broker-Dealers Named

TFS Securities Incorporated

Professionals

  • Cs: (TJD) Dochtor Kennedy & Frances Menzer, AdvisorLaw LLC, Westminster, CO.
  • Rs: (TFSSInc) Tammy S. Case, Lincroft, NJ. ISC.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

RBC Wealth v. Stiles

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

19-00008

Products

PromissoryNotes

Issue Date

2019-05-31

Situs

PP

State

PP

Clmd Compensatory

211.1

Total Amt Awarded

216.2

Compensatory Awarded

211.1

Punitive Damage Awarded

Attorney Fees Awarded

2.6

* 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-dealer for the amounts due and owing on three promissory notes.

Notes

Arbitrator Remarks.

Arbitrators

Patricia Horan Latham, Esq.

Broker-Dealers Named

RBC Wealth Management, a division of RBC Capital Markets LLC

Professionals

  • Cs: (RBCWMgmt) Michael E. Rowe, Dorsey & Whitney, Minneapolis, MN. OSC.
  • Rs: (RLS) No-show.

TypeDisp

SmallClms

Allegation I

BreachFiducDty

Short Caption

Volk v. Fidelity Brokerage

Allegation II

Negligence

Forum

FINRA

Allegation III

Docket No

19-00143

Products

Equity

Issue Date

2019-05-28

Situs

PP

State

PP

Clmd Compensatory

50.0

Total Amt Awarded

15.0

Compensatory Awarded

15.0

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 small claims case, Respondent broker-dealer is held liable to customer for damages relating to his investment in Overseas Shipholding Group. Customer voluntarily dismissed his claims against the other named Respondent broker-dealer.

Notes

Rs Fidelity Investments Money Management Inc. was not assessed any portion of the awarded amount. Rs Fidelity Brokerage Services LLC was assessed.

Arbitrators

Stephen D. Kursman, Esq.

Broker-Dealers Named

Fidelity Brokerage Services LLC; Fidelity Investments Money Management Incorporated

Professionals

  • Cs: Mark L. Kowalsky, Jaffe Raitt et al., Southfield, MI.
  • Rs: (FBSLLC & FIMMInc) Erin B. Sinclair, FMR LLC Legal Department, Boston, MA. ISC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Despradel v. Merrill Lynch

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

17-02480

Products

MutualFunds

Issue Date

2019-05-31

Situs

San Juan

State

PR

Clmd Compensatory

2000.0

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

Two customers settle their claims with Respondent broker-dealer relating to investments in Puerto Rico closed-end funds. Non-party broker is awarded expungement of this matter from his CRD record.

Notes

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

Arbitrators

Jaime J. Aponte-Parsi - Chair; Edward S. Koppman; Arthur Erwin Peabody, Jr.

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

  • Cs: Curtis Carlson, Carlson & Associates, Miami, FL.
  • Rs: (MLPFSInc) Dominick F. Evangelista & Logan S. Fisher, Bressler Amery & Ross, Florham Park, NJ. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Ford v. Pacific West

Allegation II

Forum

FINRA

Allegation III

Docket No

18-03156

Products

NP

Issue Date

2019-05-29

Situs

Seattle

State

WA

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."

Case Summary

Claimant broker wins expungement of a FINRA arbitration case from her CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Katherine Hendricks, Esq. - Chair; William J. Bender, Esq.; Jeanne C. Stilwell

Broker-Dealers Named

Pacific West Securities Incorporated

Professionals

  • Cs: (EJF) Amir Tadjedin & Jennifer Gutenberg, Markun Zusman et al., Portland, OR.
  • Rs: (PWSInc) No-show.
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