* 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 liable for breach of a settlement agreement relating to the signing of two promissory notes and is held liable to Claimant broker-dealer for compensatory damages.
* 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 Rep wins expungement of a customer complaint from appearing on his CRD record despite the objection of the state securities regulator for Arizona.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Gregory D. Hoffmann - Chair; Monica I. Salis, Esq.; John R. Wylie, Esq.
Broker-Dealers Named
Crown Capital Securities Limited Partnership
Professionals
Cs: (JAVH) Benjamin Biard, Winget Spadafora Schwartzberg LLP, Miami, FL.
* 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 without prejudice pursuant to FINRA Rule 12206 (Six-year Eligibility Rule) after finding that the issue of suitability relating to the customer's purchase of Griffin Capital Essential Asset REIT Inc. occurred seven and one-half years prior to the filing of his Statement of Claim and is outside the applicable statute of limitations.
* 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 for the amounts due and owing pursuant to four fully executed promissory notes he signed as part of his employment with Claimant broker-dealer.
* 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 is in breach of the Warrant Agreement by failing to inform him of an early warrant redemption loses his case.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Regulation Best Interest.
* 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 explains why she has decided to grant Respondent broker-dealer's Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 12206 (Six-year Eligibility Rule), without prejudice, after finding that the investment at issue in this case was purchased more than eleven years prior to the filing of the Statement of Claim.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code under the Special Proceeding option. Pre-Hearing Adjudication -- Full Dismissal. Arbitrator Remarks -- Explained Award.
Arbitrators
Mimi B. Osiason
Broker-Dealers Named
Morgan Stanley
Professionals
Cs: Paul E. Parrish, Parrish Law, Satellite Beach, FL.
Rs: (MSSBLLC) Brandy Fernandez, St. Petersburg, FL. 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
Two customers voluntarily dismiss with prejudice their claims against Respondent broker-dealer by entering into a Confidential Settlement Agreement. Non-Party broker is awarded expungement of this matter from appearing on his CRD record.
Notes
This is a Stipulated Award. All-Public Panel. Arbitrator Remarks -- Expungement granted. Arbitrator dissents without explanation.
Arbitrators
Raymond P. Buschmann, Esq. - Chair; Timothy Chron; Stuart D. Summers (Dissents)
Broker-Dealers Named
Morgan Stanley Smith Barney LLC
Professionals
Cs: Courtney M. Werning, Meyer Wilson Co. LPA, Columbus, OH.
Rs: (MSSBLLC) Abigail D. Elrod, New York, NY. 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 Respondent broker-dealers gave a third-party access to personal information and funds in his securities account and failed to inform him of such a breach in a timely fashion loses his case.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing.
Arbitrators
Thomas P. Valenti
Broker-Dealers Named
Robinhood Financial LLC; Robinhood Securities LLC
Professionals
Cs: Pro se.
Rs: (RFLLC & 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
A Panel explains why it has decided to deny a broker's request for expungement of a customer complaint from his CRD record after finding that said broker failed to meet his burden of proof for expungement as his request was unsupported by any documentary evidence and/or oral testimony.
Notes
Arbitrator Remarks.
Arbitrators
Paul C. Kurland, Esq. - Chair; Melnia Annero Cordis; Adam J. Ciffone
* 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 his request for expungement of two customer complaints from his CRD record after finding said request met all three criteria 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
Pursuant to the stipulation of the parties, a single Arbitrator awards Claimant registered representative expungement of five customer complaints 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 Arbitrator explains why he has decided to deny a customer's case against Respondents finding that they owe no legal duty to the Claimant with respect to the present matter and cannot find any liability on the part of Respondents as there is no evidence of any contractual, regulatory, or statutory violation. Respondent broker is granted his request for expungement of this matter from his CRD record.
Notes
Regulation Best Interest. Arbitrator Remarks -- Expungement granted. Explained Award.
Arbitrators
Kenneth Dymond, Esq.
Broker-Dealers Named
Cadaret Grant & Company Incorporated; Sterling Manor Financial LLC
Professionals
Cs: Pro se.
Rs: (CG&CInc & SMK) John T. Unger, Houston, TX. ISC.
Rs: (SMFLLC) No-show. -- Did not voluntarily submit to arbitration.
* 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 one customer complaint but loses his request for expungement of two more customer complaints from his CRD record after the objection of one customer.
* 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 Rep wins expungement of five customer complaints from appearing on his CRD record involving the purchase of Puerto Rican municipal securities and closed-end funds.
* 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 age discrimination case, a broker alleging that he was denied opportunities while employed at Respondent broker-dealer due to his age is awarded compensatory damages representing back pay owed.
Notes
Age Discrimination case. Arbitrator Remarks.
Arbitrators
Elena Dilorio - Chair; Platt W. Davis, III, Esq.; John (Chris) Melton
* 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 grant Respondent broker-dealers' Pre-Hearing Motions to Dismiss pursuant to FINRA Rule 13206 of the Code and dismiss Claimant registered representative's request for expungement of seven customer complaints from his CRD record and why he has decided to deny said registered representative's request for expungement of an additional complaint with prejudice sua sponte for his failure to comply with said Arbitrator's prior Orders, requests to schedule a final hearing, and file a statement of intent.
Rs: (MONYSCorp) Kevin W. Brooks, Equitable Financial Life Insurance Company, Charlotte, NC. ISC.
Rs: (HT&KLLC) Daniel C. Zinman & Hellen Park, Perkins Coie LLP, New York, NY. OSC.
Rs: (NEXTFGInc) John T. Unger, Houston, TX. ISC.
Rs: (MFSCorp) Gary S. Kessler, Kessler & Collins, Dallas, TX. OSC.
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