UPDATE : ARBchek

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

New Award Briefs

Report Dated: 2024-02-23

2024-04

Primary Sort

Secondary Sort

Dispute Information

Damages*

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Macedo v. Morgan Stanley

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01485

Products

MutualFunds

Issue Date

2024-01-31

Situs

San Diego

State

CA

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

An Arbitrator awards a broker expungement of a customer complaint from his CRD record after finding that said compliant was factually impossible/clearly erroneous and false.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

People & Entities

Arbitrators

Mark R. Lee

Broker-Dealers Named

Morgan Stanley

Professionals

  • Cs: (DJM) Everett Pritchard, HLBS Law, Westminster, CO.
  • Rs: (MSSBLLC) Emily Z. Culbertson, Morgan Stanley Legal and Compliance Division, Los Angeles, CA. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Wilczewski v. LPL Financial

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

23-01755

Products

NP

Issue Date

2024-01-29

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

An Arbitrator grants a broker's request for reformation of a defamatory entry from appearing on his Form U5 record.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Robert D. Sussin, Esq.

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: (BW) George C. Miller, Shustak Reynolds & Partners, San Diego, CA.
  • Rs: (LPLFLLC) Jon D. Kaplon, Boston, MA. ISC.

TypeDisp

CustomerMember

Allegation I

UnauthTdg

Short Caption

Bhartiya v. TD Ameritrade

Allegation II

Manipulation

Forum

FINRA

Allegation III

BreachContract

Docket No

23-00573

Products

NP

Issue Date

2024-01-31

Situs

Tampa

State

FL

Clmd Compensatory

20000.0

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

An investor alleging unauthorized trading and seeking $20 million in compensatory damages loses his case after an All-Public Panel finds that he failed to meet his burden of proof or to provide proof that he is entitled to economic damages.

Notes

All-Public Panel. Arbitrator Remarks.

Arbitrators

Karimu F. Hill-Harvey, Esq. - Chair; Elizabeth A. Townes; Natalie L. Paskiewicz, Esq.

Broker-Dealers Named

TD Ameritrade Incorporated

Professionals

  • Cs: Pro se.
  • Rs: (TDAInc) Christopher A. Stecher, Keesal Young & Logan, San Francisco, CA. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Beitler v. Cambridge Investment

Allegation II

Forum

FINRA

Allegation III

Docket No

23-02026

Products

REITs; VariableAnnuities

Issue Date

2024-02-01

Situs

Boca Raton

State

FL

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

Registered Rep wins expungement of a customer complaint from his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Monica I. Salis, Esq.

Broker-Dealers Named

Cambridge Investment Research Incorporated

Professionals

  • Cs: (JMB) Jennifer P. Farrar, Farrar Law PLLC, Tomball, TX.
  • Rs: (CIRInc) Kristina J. Branstetter, Fairfield, IA. ISC.

TypeDisp

CustomerMember

Allegation I

Operations

Short Caption

Reeves v. Fidelity Brokerage

Allegation II

FailToObey

Forum

FINRA

Allegation III

UnauthTdg

Docket No

22-02116

Products

Equity

Issue Date

2024-02-02

Situs

Atlanta

State

GA

Clmd Compensatory

73.2

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

An Arbitrator explains why he has denied a customer's case against Respondent after finding that there was no proof established that said broker-dealer's computerized ordering system malfunctioned by creating and executing an order for 600 shares of DWAC stock that was not authorized by Cs.

Notes

Arbitrator Remarks -- Explained Award.

Arbitrators

Harry G. Mason, JD

Broker-Dealers Named

Fidelity Brokerage Services LLC

Professionals

  • Cs: William Thomas Lacy, Lindsey & Lacy, Peachtree City, GA.
  • Rs: (FBSLLC) Rebecca Swenson, FMR LLC Legal Department, Boston, MA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Angiuoni v. LPL Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-02227

Products

VariableAnnuities

Issue Date

2024-02-01

Situs

Boston

State

MA

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

Registered Rep wins expungement of two customer complaints from his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

John Francis Markuns

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: (GA) Stephan Louviere, Louviere Law Firm, Pompano Beach, CA.
  • Rs: (LPLFLLC) Eleonora Yonge, Fort Mills, SC. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Herman v. Citigroup Global

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01436

Products

NP

Issue Date

2024-01-31

Situs

Detroit

State

MI

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

An Arbitrator grants Claimant broker's request for expungement of a customer complaint from his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Michael F. Jordan, Esq.

Broker-Dealers Named

Citigroup Global Markets Incorporated

Professionals

  • Cs: (MDH) William Bean, HLBS Law, Westminster, CO.
  • Rs: (CGMInc) Adam M. Kauff, Kauff Laton Miller LLP, New York, NY. OSC.

TypeDisp

CustomerMember

Allegation I

Misappropriatn

Short Caption

Tobon v. Fidelity Brokerage

Allegation II

BreachFiducDty

Forum

FINRA

Allegation III

Negligence

Docket No

22-02918

Products

NP

Issue Date

2024-01-29

Situs

Minneapolis

State

MN

Clmd Compensatory

78.0

Total Amt Awarded

4.0

Compensatory Awarded

4.0

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 alleging that fraud occurred when Respondent broker-dealers allowed his relatives to execute five transfers out of his accounts is awarded compensatory damages.

Notes

Clrg BD dispute.

Arbitrators

Douglas J. Nesbit

Broker-Dealers Named

Fidelity Brokerage Services LLC; National Financial Services LLC

Professionals

  • Cs: Steven J. Weintraut, Siegel Brill PA, Minneapolis, MN.
  • Rs: (FBSLLC & NFSLLC) Joseph L. Calabrese, Bressler Amery & Ross, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Widick v. Financial West

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01426

Products

NP

Issue Date

2024-01-29

Situs

Omaha

State

NE

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

Claimant broker is awarded expungement of a customer complaint from appearing on his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Charles G. Michaels, Esq.

Broker-Dealers Named

Financial West Group

Professionals

  • Cs: (JSW) Harris Freedman & Dochtor Kennedy, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (FWGp) No-show.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Seferian v. Continental Broker-Dealer

Allegation II

Forum

FINRA

Allegation III

Docket No

23-00665

Products

NP

Issue Date

2024-02-02

Situs

New York

State

NY

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

A Panel explains why it has decided to deny Claimant broker's request for expungement of two customer complaints from his CRD record finding that more than six years have elapsed from the occurrence giving rise to the claim (FINRA Rule 13206).

Notes

Directed Verdict -- Full Dismissal. Arbitrator Remarks.

Arbitrators

Steven Gary Leventhal - Chair; Morton S. Bunis, Esq.; Judith E. Gross, Esq.

Broker-Dealers Named

Continental Broker-Dealer Corporation

Professionals

  • Cs: (AS) Craig A. Riha, Gusrae Kaplan Nusbaum PLLC, Melville, NY.
  • Rs: (CBDCorp) No-show.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Burnham v. National Securities

Allegation II

Forum

FINRA

Allegation III

Docket No

23-00708

Products

DirectInvesmts

Issue Date

2024-01-29

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 Panel awards a registered representative expungement of a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

David John Reilly - Chair; Leona Beane, Esq.; Lauren Mintzer

Broker-Dealers Named

National Securities Corporation

Professionals

  • Cs: (JRB) Craig A. Riha, Carmel Milazzo & Feil LLP, Melville, NY.
  • Rs: (NSCorp) Emily A. Hayes, New York, NY. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Schrader v. Citicorp Investment

Allegation II

Forum

FINRA

Allegation III

Docket No

23-00710

Products

NP

Issue Date

2024-02-02

Situs

New York

State

NY

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

A broker loses his request for expungement of a customer complaint from appearing on his CRD record.

Notes

None.

Arbitrators

Denise L. Quarles, Esq. - Chair; Peter E. Gillespie; Eila Matt

Broker-Dealers Named

Citicorp Investment Services

Professionals

  • Cs: (MS) Craig A. Riha, Gusrae Kaplan Nusbaum PLLC, Melville, NY.
  • Rs: (CISvcs) No-show.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Klein v. Charles Schwab

Allegation II

Defamation

Forum

FINRA

Allegation III

WrongTerm

Docket No

22-01691

Products

NP

Issue Date

2024-02-02

Situs

Columbus

State

OH

Clmd Compensatory

600.0

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

A broker alleging wrongful termination and seeking reformation of alleged defamatory information from his Form U5 record loses his case against his former employer.

Notes

None.

Arbitrators

Michael L. Lyons, Esq. - Chair; Ann Marie Hansen; Susan Finefrock

Broker-Dealers Named

Charles Schwab & Company Incorporated

Professionals

  • Cs: (ABK) Kristian P. Kraszewski, Kyros Law Offices, Coral Gables, FL.
  • Rs: (CS&CInc) Christopher F. Robertson & Katherine Moskop, Seyfarth Shaw LLP, Boston, MA. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Cameron v. Charles Schwab

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01395

Products

Options

Issue Date

2024-01-30

Situs

Portland

State

OR

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

Claimant registered rep is awarded expungement of two customer complaints from his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Stephany Adriene Watson, Esq.

Broker-Dealers Named

Charles Schwab & Company Incorporated

Professionals

  • Cs: (JCC) Peter Lindholm & Dochtor Kennedy, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (CS&CInc) Garrett R. Wynne, Lone Tree, CO. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Eboli-Kodesh v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-00201

Products

MuniSecs

Issue Date

2024-01-30

Situs

San Juan

State

PR

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

An Arbitrator provides factual background and detail as to his reasoning for granting Claimant broker's requests for expungement of nine customer complaints from appearing on his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Christopher J. Klein, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (RE) Leany P. Prieto-Rodriguez & Roberto C. Quinones-Rivera, McConnell Valdes LLC, San Juan, PR.
  • Rs: (UBSFSInc) Rey F. Medina-Velez, UBS Financial Services Incorporated of Puerto Rico, San Juan, PR. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Crescioni v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-00941

Products

NP

Issue Date

2024-02-02

Situs

San Juan

State

PR

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

An Arbitrator provides factual background as to why he has decided to grant Claimant broker's request for expungement of seven customer complaints from his CRD record finding he was entitled to said relief under all three criteria of FINRA Rule 2080.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Martin A. Feigenbaum, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (JEC) Myrgia M. Palacios-Cabrera & Roberto C. Quinones-Rivera, McConnell Valdes LLC, San Juan, PR.
  • Rs: (UBSFSInc) Rey F. Medina-Velez, UBS Financial Services Incorporated of Puerto Rico, San Juan, PR. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Landivar v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-00952

Products

MutualFunds

Issue Date

2024-02-01

Situs

San Juan

State

PR

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

An Arbitrator awards a broker expungement of four customer complaints from his CRD record after finding that the complaints were factually impossible or clearly erroneous.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Nancy J. Cliff, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (FJL) Isabel Torres-Sastre & Roberto C. Quinones-Rivera, McConnell Valdes LLC, San Juan, PR.
  • Rs: (UBSFSInc) Rey F. Medina-Velez, UBS Financial Services Incorporated of Puerto Rico, San Juan, PR. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Green v. TD Ameritrade

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01084

Products

ARS

Issue Date

2024-02-01

Situs

Nashville

State

TN

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

Claimant broker is awarded expungement of a customer complaint from his CRD record involving the purchase of auction rate securities.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Neil Harvey Smith

Broker-Dealers Named

TD Ameritrade Incorporated

Professionals

  • Cs: (TRG) Brian Luther, FA Expungement Services LLC, Denver, CO.
  • Rs: (TDAInc) Garrett R. Wynne, Charles Schwab & Company Incorporated, Lone Tree, CO. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Weaver v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01193

Products

ARS

Issue Date

2024-01-30

Situs

Dallas

State

TX

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 single Arbitrator grants Claimant broker's request for expungement of two customer complaints from his CRD record involving the sale of auction rate securities.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Andrea U. Calve, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (PCW) Kathleen Patchel, HLBS Law, Broomfield, CO.
  • Rs: (UBSFSInc) John Murphy, J. Murphy & Associates, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Garofalo v. LPL Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-01180

Products

REITs

Issue Date

2024-01-29

Situs

Richmond

State

VA

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 Rep is awarded expungement of a customer complaint from his CRD record involving the purchase of real estate investment trusts.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Richard James Igou

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: (DJG) None.
  • Rs: (LPLFLLC) Mike West, San Diego, CA. ISC.
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