* 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 grants one named Respondent broker-dealer's Pre-Hearing Motion to Dismiss Claimant rep's requests for expungement on eligibility grounds (pursuant to Rule 13206) and also denies his remaining request for expungement of another customer complaint.
Notes
Pre-Hearing Adjudication -- Party Dismissal. Arbitrator Remarks.
People & Entities
Arbitrators
Edith N. Dinneen, Esq. - Chair; David Harvey Failer; Jeffrey E. Skogsbergh, Esq.
Broker-Dealers Named
Banc of America Investment Services Incorporated; Morgan Stanley
* 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 granted his request for expungement of two customer complaints from appearing on his CRD record but is denied his request for expungement of a third.
* 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 constructive fraud with respect to the purchase of various alternative investments including master limited partnerships lose their case against Respondent broker-dealer. Non-Party registered rep is awarded expungement of this matter 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
An All-Public Panel grants Respondent broker-dealer's Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 12206(a) (Six-year Eligibility Rule), thus denying the customer's request for rescission of his investments.
Richard R. Logsdon, Esq. - Chair; Meeta Alberta Bass; Karen Santiago
Broker-Dealers Named
Triad Advisors LLC
Professionals
Cs: David P. Meyer & Courtney M. Werning, Meyer Wilson Co. LPA, Columbus, OH and Joseph Peiffer & Jason Kane & Christa Hibbard, Peiffer Wolf et al, Pittsford, NY.
Rs: (TALLC) James A. McGovern, Marshall Dennehey et al., Pittsburgh, PA. 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
Claimant registered representative and Respondent broker-dealer resolve their respective claims and Counterclaims, while said registered rep is granted reformation of defamatory information from his Form U5 record.
Notes
Arbitrator Remarks -- Reformation U-5 granted.
Arbitrators
Nancy E. Watters, Esq. - Chair; Cherelle K. Donaldson; John L. Bruch, III
Broker-Dealers Named
Equitable Advisors LLC
Professionals
Cs: (CPM) Jon-Jorge Aras & Christopher D. Warren, Warren Law Group, New York, NY.
Rs: (EALLC) Matthew I. Penfield, Bressler Amery & Ross, 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
A customer alleging that securities in his account were misappropriated and that Respondent broker-dealer engaged in fraud in violation of the Electronic Fund Transfer Act loses his case.
Notes
Majority Public Panel. Panel composition issue.
Arbitrators
Edward W. Morris, Jr., Esq. - Chair; John W. Eichleay, Jr., Esq.; Samuel Harrison Chorches, Esq.
Broker-Dealers Named
Charles Schwab & Company Incorporated
Professionals
Cs: Alexander Darr, Darr Law, Columbus, OH.
Rs: (CS&CInc) Frank Cuccio, Bressler Amery & Ross, Florham Park, 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
An Arbitrator explains why he has decided to deny a broker's request for reformation of his Form U5 record finding that the "Yes" answers to the questions contained in it were accurate.
* 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 denies a broker's request for expungement of a complaint from his CRD record after the objection of the customer.
Notes
Panel composition issue.
Arbitrators
Michele S. Riley
Broker-Dealers Named
RBC Capital Markets LLC
Professionals
Cs: (RFT) Frederic M. Krieger & Rebecca Kurley, Davis Wright Tremaine LLP, New York, NY and P. Thomas DeFranco, Davis Wright Tremaine LLP, Washington, DC.
* 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 why he has decided to grant Claimant broker's request for expungement of five customer complaints from his CRD record finding that said request met all three criteria under 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
An Arbitrator provides factual background and explains in detail why he has decided to grant a broker's request for expungement of five customer complaints from his CRD record involving the purchase of Puerto Rico bond fund securities.
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