* 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 (Individually and on behalf of their IRA accounts) and a Trust settle their case against Respondents involving the purchase of Coupa Software Inc. stock. Respondent brokers are each awarded expungement of this matter from their respective CRD records.
Notes
This is a Stipulated Award. Rescission Requested. All-Public Panel. Arbitrator Remarks -- Expungement granted.
People & Entities
Arbitrators
Peter H. Daly - Chair; Ralph A. Cotton, CPA; Kevin Francis Woodall
Broker-Dealers Named
Morgan Stanley Smith Barney LLC
Professionals
Cs: Brandon S. Reif, Reif Law Group, Los Angeles, CA and Jon C. Furgison, Furgison Law Group, Hermosa Beach, CA.
Rs: (MSSBLLC, NAR & JGS) Mark L. Parmalee & William D. Briendel, Greenberg Traurig LLP, White Plains, 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
An Arbitrator explains why he has decided to deny a broker's request for expungement finding that there was insufficient evidence to grant such a relief request under FINRA Rule 2080.
* 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 denies a broker's request for expungement of a customer complaint from his CRD record after an authorized representative of the California Department of Financial Protection and Innovation and said customer both objected to the awarding of expungement.
Notes
None.
Arbitrators
Stuart Sinai, Esq. - Chair; Mary C. Davis; Peter A.P. Dunlop
Broker-Dealers Named
UBS Financial Services Incorporated
Professionals
Cs: (DSF) David I. Hantman, Bressler Amery & Ross, New York, NY.
Rs: (UBSFSInc) Melissa J. Gworek, 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
A non-appearing broker is found on the claim of breach of contract and is held liable to Claimant broker-dealer for the amounts due and owing pursuant to two Promissory Note Agreements be executed as part of his employment and became due upon his termination.
Notes
Arbitrator Remarks.
Arbitrators
Shawn Ridgell
Broker-Dealers Named
Wells Fargo Clearing Services LLC
Professionals
Cs: (WFCSLLC) Gabriel Lee-Sanchez, Keesal Young & Logan, San Francisco, 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 awards Claimant broker expungement of a customer complaint from his CRD record after finding said complaint to be false under FINRA Rule 2080.
* 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 explains why it has decided to grant Respondent broker-dealer's Pre-Hearing Motion to Dismiss regarding Claimant broker's request for expungement of a customer complaint from his CRD record finding said request to be outside the six-year eligibility period as provided for under FINRA Rule 13206.
Notes
Pre-Hearing Adjudication -- Full Dismissal. Arbitrator Remarks -- Explained Award.
Arbitrators
Vincent C. Pangia - Chair; Clarence Smith, Jr., Esq.; Nancy Plesser Wendell
* 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, an Arbitrator dismisses a customer's case with prejudice as a sanction for his failure to appear at the three scheduled initial pre-hearing conference calls or indicate his intention whether or not he would be pursuing his claim.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Pre-Hearing Adjudication -- Full Dismissal. Sanctions imposed.
Arbitrators
Jeffrey Alan Helewitz, Esq.
Broker-Dealers Named
Robinhood Financial LLC
Professionals
Cs: Pro se.
Rs: (RFLLC) Richard J. Davis, Maynard Nexsen PC, Birmingham, AL. 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 Respondent broker-dealer failed to take the proper security measures to protect his account loses his case.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. The customer did not request a hearing.
Arbitrators
Sandra J. Mullings, Esq.
Broker-Dealers Named
Robinhood Securities LLC
Professionals
Cs: Pro se.
Rs: (RSLLC) Simeon M. Schopf, 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
In this small claims arbitration, a customer alleging that his check deposit was placed into a different accountholders account instead of his own personal one and that due to this error by Respondent broker-dealer significant delays occurred causing him to suffer financial loss is awarded damages.
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
An Arbitrator provides factual background as to why he has decided to grant Claimant broker's request for expungement of a customer complaint from his CRD.
Cs: (AMC) Russell Del Toro Parra III & Linette Figueroa-Torres, Toro Colon Mullet PSC, San Juan, PR.
Rs: (UBSFSInc) Rey F. Medina-Velez, UBS Financial Services Incorporated of Puerto Rico, San Juan, PR. ISC and Leslie Y. Flores-Rodriguez, McConnell Valdes LLC, San Juan, PR. 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 provides factual background and explains in detail why she has decided to grant Claimant broker's request for expungement of a customer complaint from his CRD record.
* 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 unauthorized withdrawals occurred in her account with Respondent broker-dealer settles her case against Respondents. Respondent broker is awarded his request for expungement of this matter from his CRD record.
Notes
This is a Stipulated Award. Majority Public Panel. Arbitrator Remarks -- Expungement granted.
Arbitrators
Barry H. Barnett, Esq. - Chair; Michael Jeffrey Norton, Esq.; Morgan Hislop Lemaitre
Broker-Dealers Named
Edward Jones Limited Partnership
Professionals
Cs: Matthew R. Lewis, Kunzler Bean & Adamson, Salt Lake City, UT.
Rs: (EDJ&CLP & LW) Maria E. Windham, Ray Quinney & Nebeker, Salt Lake City, UT. OSC.
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