* 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 obtained an unlawful loan from them, misused their funds and forged one of their signatures on a document, among other things.
Notes
This is a Stipulated Award. Selling Away case. All-Public Panel. Arbitrator Remarks -- Arbitrator dissents without explanation.
People & Entities
Arbitrators
Joseph Winter, Esq. - Chair (Dissents); Kenneth E. Owen, Esq.; Daniel Lawrence Pearlman
Broker-Dealers Named
Pruco Securities LLC; Prudential Equity Group LLC; Prudential Investment Management Services LLC; Prudential Insurance Company of America; Prudential Financial Planning Services; Prudential Financial Incorporated
Professionals
Cs: John D. Singer, Singer Deutsch LLP, New York, NY.
Rs: (CZIns, TH, TOLLC & CGZ) David H. Jarvis, Jarvis Law Group PLLC, West Bloomfield, MI. OSC.
Rs: (PEGLLC, PIMSLLC, TPICUSA, PFPSInc, PFInc, PSLLC & JES) Lorie E. Almon & Courtney Stieber & Julia Rigby, Seyfarth Shaw LLP, New York, 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."
Claim Summary
Cs brokers alleged that their employer provided untenable working conditions, centering around an allegedly dysfunctional technology platform for the use of its employees, which ultimately led to Cs' respective terminations.
Notes
None.
Arbitrators
Alice J. Johnson (fka Alice J. Dutton) - Chair; William John Kattula; Robert J. Bender
Broker-Dealers Named
Morgan Stanley Smith Barney LLC
Professionals
Cs: (HB & AY) Allan M. Lerner, Law Offices of A.M. Lerner, Fort Lauderdale, FL.
Rs: (MSSBLLC) H. Nicholas Berberian & Tina Winer, Neal Gerber & Eisenberg, Chicago, IL. OSC.
* 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 -- Party Dismissal. Sanctions imposed. Severance. All-Public Panel. Arbitrator Remarks -- Expungement granted after a hearing on the merits.
Arbitrators
Christine Moore, Esq. - Chair; William E. Nuckel; Mary Julia O'Connell
Broker-Dealers Named
Alexander Capital Limited Partnership; RBC Capital Markets LLC
Professionals
Cs: Adam J. Weinstein, Gana LLP, New York, NY.
Rs: (ACLP & JAA) Scott Holcomb, The Holcomb Law Firm LLC, Atlanta, GA. OSC.
Rs: (RBCCMLLC) Frank J. Cuccio, Bressler Amery & Ross, Morristown, 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."
Claim Summary
Cs requested expungement of two customer complaints, one of which alleged failure to execute trades and excessive charges, among other things, and the other alleged unauthorized trading, churning and unsuitability, among other things.
Notes
Arbitrator Remarks -- Expungement granted after a hearing on the merits. Explained Award.
Arbitrators
Sandra J. Mullings, Esq. - Chair; Joan M. Traub, Esq.; Joanne Basso Mack
Broker-Dealers Named
UBS Financial Services Incorporated
Professionals
Cs: (EFH) Brian Kennedy, Law Office of B. Kennedy, New York, NY.
Rs: (UBSFSInc) Mark Knoll, Bressler Amery & Ross, New York, 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."
Claim Summary
Cs requested expungement of a customer complaint alleging that she purchased Delta stock and convertible bonds that were outside the risk parameters of the customer's Portfolio Management Program account agreement.
Notes
Panel composition issue. Arbitrator Remarks -- Expungement granted after a hearing on the merits.
Arbitrators
Joseph J. Arata, Esq.
Broker-Dealers Named
UBS Financial Services Incorporated
Professionals
Cs: (KAK) David Hantman, Bressler Amery & Ross, New York, NY.
* 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 registered representative agreement.
Notes
None.
Arbitrators
Peter L. Michaelson
Broker-Dealers Named
First Standard Financial Company LLC
Professionals
Cs: (FSFCLLC) Michael S. Colombo, StreetWide Asset Recovery Group Inc., Hazlet, NJ. OSC.
Rs: (JOD) None.
Any attempt to use robotics to download Awards posted on this WebSite or to gain access to the Awards on this WebSite in contravention of the Terms of Use Agreement is an unauthorized use, an abuse of the privileges extended to users of this WebSite, and, in our view, a violation of federal law.
