UPDATE : ARBchek

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

New Award Briefs

Report Dated: 2021-11-19

2021-35

Primary Sort

Secondary Sort

Dispute Information

Damages*

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Scroggins v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02278

Products

ARS

Issue Date

2021-10-19

Situs

San Francisco

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

Claimant registered representative is wins expungement of a customer complaint from appearing on his CRD record involving the purchase of auction rate securities.

Notes

Arbitrator Remarks -- Expungement granted.

People & Entities

Arbitrators

Thomas D. Reese, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (CDS) Avinoam Rosenfeld, The Rosenfeld Law Office, Lawrence, NY.
  • Rs: (UBSFSInc) Omar Perez, UBS Business Solutions US LLC, Nashville, TN. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Neves v. Securities America

Allegation II

Forum

FINRA

Allegation III

Docket No

20-03015

Products

DirectInvesmts; RealEstate

Issue Date

2021-10-20

Situs

San Diego

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 awards Claimant broker expungement of three customer complaints from appearing on his CRD record.

Notes

Please Note* This case was administered under the Special Proceeding option for simplified cases. Arbitrator Remarks -- Expungement granted. Explained Award.

Arbitrators

Mark R. Lee

Broker-Dealers Named

Securities America Incorporated

Professionals

  • Cs: (PAN) Tosh Grebenik, Judex Law LLC, Broomfield, CO.
  • Rs: (SAInc) Chad Weaver, Freeman Mathis & Gary, Seal Beach, CA. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Pettijohn v. JP Morgan

Allegation II

Forum

FINRA

Allegation III

Docket No

21-01167

Products

NP

Issue Date

2021-10-15

Situs

Los Angeles

State

CA

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

An Arbitrator explains why he has decided to deny a broker's request for expungement of a customer complaint from his CRD record after finding said broker did not meet his burden of proof.

Notes

Panel composition issue. Arbitrator Remarks -- Explained Award.

Arbitrators

Andrew M. Mintzer, CPA

Broker-Dealers Named

JP Morgan Securities LLC

Professionals

  • Cs: (KAP) Michael Bessette, HLBS Law, Westminster, CO.
  • Rs: (JPMSLLC) Samantha D. Parrish, Keesal Young & Logan, Long Beach, CA. OSC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Lawson v. Charles Schwab

Allegation II

Defamation

Forum

FINRA

Allegation III

UnjustEnrichment

Docket No

18-03893

Products

NP

Issue Date

2021-10-15

Situs

Denver

State

CO

Clmd Compensatory

0.0

Total Amt Awarded

Equity

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 settles his monetary claims against Respondent broker-dealer and is granted his request for reformation of defamatory information from appearing on his Form U5 record.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Richard Djokic, Esq. - Chair; Ronald G. Guida; Henry Zabarsky

Broker-Dealers Named

Charles Schwab & Company Incorporated

Professionals

  • Cs: (SAL) Clinton W. Marrs, Marrs Griebel Law Limited, Albuquerque, NM.
  • Rs: (CS&CInc) Connor M. Trafton, Keesal Young & Logan, Long Beach, CA. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Connell v. Grove Point

Allegation II

Forum

FINRA

Allegation III

Docket No

21-00546

Products

VariableAnnuities

Issue Date

2021-10-15

Situs

Wilmington

State

DE

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 broker is awarded her request for expungement of a customer complaint from appearing on her CRD involving a customer's purchase of a variable annuity.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted. Explained Award.

Arbitrators

Linda J. Baer, Esq.

Broker-Dealers Named

Grove Point Investments LLC

Professionals

  • Cs: (KFC) Dochtor Kennedy & Harris Freedman, AdvisorLaw LLC, Westminster, CO.
  • Rs: (GPILLC) Matt Winterhalter, Rockville, MD. ISC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Ingram v. UBS Financial

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

19-00684

Products

Options

Issue Date

2021-10-21

Situs

Boca Raton

State

FL

Clmd Compensatory

3547.8

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

Two customers, a father and son, seeking over $5 million in total damages relating to Respondent broker-dealer's Yield Enhancement Strategy lose their case. Non-Party broker is granted his request for expungement of this matter from his CRD record.

Notes

Rescission Requested. All-Public Panel. Arbitrator Remarks -- Expungement granted. Explained Award.

Arbitrators

Carl Henry Perdue - Chair; Leonard Michael Cusano; Scott Albert Stringer

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: Jacob Zamansky & Samuel Bonderoff & Matthew Hendrickson, Zamansky LLC, New York, NY.
  • Rs: (UBSFSInc) Joseph Serino Jr. & Kuan Huang, Latham & Watkins, New York, NY. OSC.

TypeDisp

CustomerMember

Allegation I

FailToObey

Short Caption

Vido v. SunTrust Investment Services

Allegation II

Operations

Forum

FINRA

Allegation III

BreachContract

Docket No

20-02359

Products

NP

Issue Date

2021-10-23

Situs

Tampa

State

FL

Clmd Compensatory

0.0

Total Amt Awarded

18.2

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

In a dispute arising over the transfer of assets held in all of a decedent's accounts payable on death, two power-of-attorneys are granted their requests to be named 50/50 beneficiaries with respect to said assets and are also awarded costs incurred in this matter.

Notes

All-Public Panel.

Arbitrators

Rochelle Friedman Walk - Chair; Elizabeth A. Townes; Natalie L. Paskiewicz, Esq.

Broker-Dealers Named

SunTrust Investment Services Incorporated

Professionals

  • Cs: Zackary T. Zuroweste & Robert Persante, Persante Zuroweste PA, Clearwater, FL.
  • Rs: (STISInc) Josef Y. Rosen, Gray Robinson LLP, Tampa, FL. OSC.
  • Rs: (AK) Robert K. Jamieson, Wiand Guerra King PA, Tampa, FL.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

LaPlante v. Stifel Nicolaus

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

20-03790

Products

NP

Issue Date

2021-10-19

Situs

Jacksonville

State

FL

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

An Arbitration Panel explains why it has denied a broker's request for reformation of her Form U5 record finding that no evidence was presented that reflected Respondent broker-dealer has any obligation to expunge any information previously reported on the Form U5.

Notes

Arbitrator Remarks -- Explained Award.

Arbitrators

Kenneth R. Starr, Esq. - Chair; Brian Michael Kane; Niels Patrick Murphy

Broker-Dealers Named

Stifel Nicolaus & Company Incorporated

Professionals

  • Cs: (ML) None.
  • Rs: (SN&CInc) Paul R. Klein, St. Louis, MO. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Simmonds v. Wells Fargo

Allegation II

Forum

FINRA

Allegation III

Docket No

20-04159

Products

NP

Issue Date

2021-10-15

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

A Panel grants a broker's request for expungement of a customer complaint from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Paul J. Burkhart - Chair; Michael P. Schiff, Esq.; James Michael LaBonte

Broker-Dealers Named

Wells Fargo Clearing Services LLC

Professionals

  • Cs: (GAS) Craig D. Stein, Stein & Stein, Palm Beach, FL.
  • Rs: (WFCSLLC) Patricia E. Cowart, Wells Fargo Legal Department, Fort Lauderdale, FL. ISC.

TypeDisp

SmallClms

Allegation I

Misreprestn

Short Caption

Rucks v. Robinhood Financial

Allegation II

FailToObey

Forum

FINRA

Allegation III

Negligence

Docket No

21-00941

Products

Equity

Issue Date

2021-10-13

Situs

Chicago

State

IL

Clmd Compensatory

1.7

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

In this small claims arbitration, a customer alleging that Respondent broker-dealers restricted certain trading on securities thus presenting false advertising with respect to the marketing of unlimited trades loses his case.

Notes

Please Note* This matter proceeded pursuant to Rule 12800 of the Code.

Arbitrators

Sal Presti, CPA

Broker-Dealers Named

Robinhood Financial LLC; Robinhood Markets Incorporated

Professionals

  • Cs: Nathan C. Volheim & Eric Coleman, Sulaiman Law Group Limited, Lombard, IL.
  • Rs: (RFLLC) Dominick F. Evangelista & Frank J. Cuccio, Bressler Amery & Ross, Florham Park, NJ. OSC.
  • Rs: (RMInc) No-show. -- Did not voluntarily submit to arbitration.

TypeDisp

SmallClms

Allegation I

Misappropriatn

Short Caption

Reynolds v. Principal Securities

Allegation II

Negligence

Forum

FINRA

Allegation III

Operations

Docket No

21-01305

Products

NP

Issue Date

2021-10-15

Situs

Chicago

State

IL

Clmd Compensatory

30.0

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

In this small claims arbitration, a customer alleging that Respondent broker-dealer negligently transferred his requested distribution to a bank account he did not have access to loses his case.

Notes

Please Note* This matter proceeded pursuant to Rule 12800 of the Code.

Arbitrators

Steven H. Vogel, Esq.

Broker-Dealers Named

Principal Securities Incorporated

Professionals

  • Cs: Pro se.
  • Rs: (PSInc) Kathryn Roe Eldridge & Shruti Jaishankar, Maynard Cooper & Gale, Birmingham, AL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Maddox v. The Huntington Investment Company

Allegation II

Forum

FINRA

Allegation III

Docket No

21-01145

Products

NP

Issue Date

2021-10-22

Situs

Indianapolis

State

IN

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

The Panel awards Claimant broker expungement of a customer complaint from his CRD record and denies his request for nominal damages.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Sherrill William Colvin, Esq. - Chair; John L. Krauss, Esq.; David Joseph Remondini

Broker-Dealers Named

The Huntington Investment Company

Professionals

  • Cs: (TJM) Mark E. Maddox, Maddox Hargett & Caruso, Fishers, IN.
  • Rs: (THICo) Elizabeth M. Hill, The Huntington National Bank, Columbus, OH. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Fink v. Ameriprise Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

20-04121

Products

NP

Issue Date

2021-10-20

Situs

Louisville

State

KY

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 granted expungement of five customer complaints from appearing on his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Richard W. Dissen, Esq.

Broker-Dealers Named

Ameriprise Financial Services LLC

Professionals

  • Cs: (SGF) Frances Menzer & Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (AFSInc) Howard M. Klausmeier, Troy, MI. ISC.

TypeDisp

CustomerMember

Allegation I

Operations

Short Caption

Danesh v. Morgan Stanley

Allegation II

FailToObey

Forum

FINRA

Allegation III

Supervision

Docket No

20-04193

Products

Options

Issue Date

2021-10-15

Situs

Boston

State

MA

Clmd Compensatory

1590.3

Total Amt Awarded

138.3

Compensatory Awarded

130.3

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 Respondents failed to properly execute his trade, thus causing an execution error, is awarded compensatory damages and costs. Respondent broker loses his request for expungement of this matter from his CRD record.

Notes

Majority Public Panel.

Arbitrators

Gerard S. Marsan, Esq. - Chair; William A. Barrett; Arthur Lewis Pressman

Broker-Dealers Named

Morgan Stanley

Professionals

  • Cs: David W. Sparrow, Law Offices of D.W. Sparrow, Hewlett, NY.
  • Rs: (MSSBLLC & KAB) Andrew Gelfand, New York, NY. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Atwood v. Merrill Lynch

Allegation II

Forum

FINRA

Allegation III

Docket No

21-00133

Products

MutualFunds; Options; DirectInvesmts

Issue Date

2021-10-22

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

An Arbitrator grants a broker's request for expungement of three customer complaints from appearing on his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

David Wertz Ellis

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

  • Cs: (JAA) Dochtor Kennedy & Harris Freedman, AdvisorLaw LLC, Westminster, CO.
  • Rs: (MLPFSInc) W. Preston Martin, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp

SmallClms

Allegation I

FailToObey

Short Caption

Miller v. Computershare Securities

Allegation II

Forum

FINRA

Allegation III

Docket No

21-01118

Products

Equity

Issue Date

2021-10-15

Situs

Minneapolis

State

MN

Clmd Compensatory

49.6

Total Amt Awarded

25.5

Compensatory Awarded

25.5

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 Pro se Claimant alleging that Respondent broker-dealer did not follow his instructions to hold and deliver 300 shares of stock in Zimmer Biomet Holdings Inc. to him prevails on his claim and is awarded either delivery of said shares or compensatory damages.

Notes

Please Note* This matter proceeded pursuant to Rule 12800 of the Code.

Arbitrators

Robert J. Scafuri, Esq.

Broker-Dealers Named

Computershare Securities Corporation

Professionals

  • Cs: Pro se.
  • Rs: (CSCorp) No-show.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Hulen v. Edward Jones

Allegation II

Forum

FINRA

Allegation III

Docket No

21-00299

Products

Equity

Issue Date

2021-10-22

Situs

St. Louis

State

MO

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

Claimant broker is awarded expungement of five customer complaints from appearing on his CRD record, but also loses his request for expungement of three more customer complaints.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Julius Z. Frager

Broker-Dealers Named

Edward Jones

Professionals

  • Cs: (PMH) Samantha Pastor & Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (EDJ&CLP) Jonathan W. Hackbarth & Ellen E. Cranberg, Quarles & Brady, Milwaukee, WI. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Scordato v. GF Investment

Allegation II

Forum

FINRA

Allegation III

Docket No

21-00899

Products

Annuities; REITs

Issue Date

2021-10-12

Situs

Jersey City

State

NJ

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

The Panel explains in detail why it has decided to grant Claimant broker's request for expungement of a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted. Explained Award.

Arbitrators

Annamaria Boccia-Smith, Esq. (fka Annamaria Boccia-Kovarcik, Esq.) - Chair; Louis H. Miron, Esq.; Linda T. Pellegrino, Esq.

Broker-Dealers Named

GF Investment Services LLC

Professionals

  • Cs: (MS) Kimberly A. Koves, Guerra King PA, Tampa, FL.
  • Rs: (GFISLLC) Larry W. Yager, McDonough, GA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Chudd v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

21-02038

Products

ARS

Issue Date

2021-10-13

Situs

Las Vegas

State

NV

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 representative wins expungement of a customer complaint from appearing on his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Kirtley M. Thiesmeyer, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (MWC) David I. Hantman, Bressler Amery & Ross, New York, NY.
  • Rs: (UBSFSInc) Omar Perez, UBS Business Solutions USA LLC, Nashville, TN. ISC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Karsch v. Morgan Stanley

Allegation II

Misreprestn

Forum

FINRA

Allegation III

BreachContract

Docket No

19-00628

Products

VariableAnnuities

Issue Date

2021-10-13

Situs

New York

State

NY

Clmd Compensatory

1755.9

Total Amt Awarded

Equity

Compensatory Awarded

Equity

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

Two Claimants alleging elder abuse and unsuitable investments in variable annuity contracts settle their claims against Respondent broker-dealer and broker. Respondent broker is granted her request for expungement of this matter from her CRD record.

Notes

This is a Stipulated Award. Rescission Requested. Majority Public Panel. Arbitrator Remarks -- Expungement granted.

Arbitrators

Brian John Gallagher - Chair; Michael Jaffe, Esq.; Richard A. Cini

Broker-Dealers Named

Morgan Stanley

Professionals

  • Cs: John E. Lawlor, Attorney-at-Law, Mineola, NY.
  • Rs: (MSSBLLC & RGR) Joseph A. Sack & Jeremy S. Winer, New York, NY. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Bondi v. Morgan Stanley

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

20-01834

Products

NP

Issue Date

2021-10-21

Situs

New York

State

NY

Clmd Compensatory

50.0

Total Amt Awarded

63.0

Compensatory Awarded

50.0

Punitive Damage Awarded

Attorney Fees Awarded

13.0

* 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 is awarded damages on her defamation claim and reformation of defamatory information from appearing on her Form U5 record.

Notes

Please Note* This case was administered under the Special Proceeding option for simplified cases. Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

John Caracciolo

Broker-Dealers Named

Morgan Stanley

Professionals

  • Cs: (EAB) Irwin Weltz, Weltz Kakos et al., Mineola, NY.
  • Rs: (MSSBLLC) Alan S. Brodherson, Law Offices of A.S. Brodherson, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Longo v. Morgan Stanley

Allegation II

Forum

FINRA

Allegation III

Docket No

20-03181

Products

Equity

Issue Date

2021-10-22

Situs

New York

State

NY

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

A broker wins expungement of three customer complaints from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Josian Antoine, Esq.

Broker-Dealers Named

Morgan Stanley DW Incorporated; American Capital Partners LLC

Professionals

  • Cs: (TVL) Michael Ference, Sichenzia Ross Ference LLP, New York, NY.
  • Rs: (MSDWInc) Jeremy S. Winer, New York, NY. ISC.
  • Rs: (ACPLLC) John Gardini, Hauppauge, NY. ISC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Chisholm v. Ameriprise Financial

Allegation II

Negligence

Forum

FINRA

Allegation III

FailToObey

Docket No

20-03296

Products

Equity

Issue Date

2021-10-22

Situs

New York

State

NY

Clmd Compensatory

0.0

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 customer alleging that Respondent broker-dealer placed him in unsuitable investments for his IRA and 401K accounts loses his case. Respondent broker is granted expungement of this matter from his CRD record.

Notes

All-Public Panel. Arbitrator Remarks -- Expungement granted. Explained Award.

Arbitrators

Ellyn S. Roth - Chair; Camille S. Cooper, Esq.; Charlane Brown

Broker-Dealers Named

Ameriprise Financial Services LLC

Professionals

  • Cs: Jason J. Kane, Peiffer Wolf et al., Rochester, NY.
  • Rs: (AFSLLC & MC) Sydney H. Crowder, Ameriprise Financial Incorporated, Minneapolis, MN. ISC.

TypeDisp

CustomerMember

Allegation I

Operations

Short Caption

Gray v. Fidelity Brokerage

Allegation II

Negligence

Forum

FINRA

Allegation III

IIED

Docket No

20-03308

Products

NP

Issue Date

2021-10-21

Situs

Albany

State

NY

Clmd Compensatory

500.0

Total Amt Awarded

0.0

Compensatory Awarded

0.0

Punitive Damage Awarded

0.0

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 customer alleging that Respondent broker-dealer improperly closed her securities accounts loses her case.

Notes

Majority Public Panel.

Arbitrators

Richard Gee - Chair; Keely D. Parr, Esq.; David J. Pine, Esq.

Broker-Dealers Named

Fidelity Brokerage Services LLC

Professionals

  • Cs: Pro se.
  • Rs: (FBSLLC) Nikolas S. Komyati, Bressler Amery & Ross, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Lindemann v. JP Morgan

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

20-03916

Products

NP

Issue Date

2021-10-21

Situs

New York

State

NY

Clmd Compensatory

0.0

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

Claimant broker loses his request for reformation of defamatory information from appearing on his Form U5 record.

Notes

None.

Arbitrators

Howard Alan Grinsberg

Broker-Dealers Named

JP Morgan Securities LLC

Professionals

  • Cs: (PSL) Dochtor Kennedy & Zachary Morse, AdvisorLaw LLC, Westminster, CO.
  • Rs: (JPMSLLC) Jeffrey S. Dunlap & Shipra K. Rege, Ulmer & Berne, Cleveland, OH. OSC.

TypeDisp

MemberEmployee

Allegation I

Indemnification

Short Caption

Trident Partners v. Flynn

Allegation II

BreachContract

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

21-00426

Products

NP

Issue Date

2021-10-18

Situs

New York

State

NY

Clmd Compensatory

12.0

Total Amt Awarded

15.2

Compensatory Awarded

12.0

Punitive Damage Awarded

Attorney Fees Awarded

3.2

* 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-dealer prevails on its breach of contract and indemnification claims and is awarded damages including attorney fees pursuant to the employment agreement, against a non-appearing registered representative.

Notes

Please Note* This case was administered under the Special Proceeding option for simplified cases. Arbitrator Remarks.

Arbitrators

Mary Julia O'Connell

Broker-Dealers Named

Trident Partners Limited

Professionals

  • Cs: (TPLtd) Eric J. Sussman, Attorney-at-Law, Rockville Centre, NY. OSC.
  • Rs: (TMF) None.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Speedling v. Wells Fargo

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

21-01589

Products

NP

Issue Date

2021-10-22

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

Registered representative is granted reformation of defamatory information from his Form U5 record.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Sandra J. Mullings, Esq. - Chair; Paul Bennett Marrow; Jonathan Cooper

Broker-Dealers Named

Wells Fargo Clearing Services LLC

Professionals

  • Cs: (RS) Brandon M. Taaffe, Shumaker Loop & Kendrick, Sarasota, FL.
  • Rs: (WFCSLLC) Michael Naccarato, Wells Fargo Legal Department, St. Louis, MO. ISC.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

O'Neill v. McDonald Partners

Allegation II

Negligence

Forum

FINRA

Allegation III

BreachContract

Docket No

19-00440

Products

DirectInvesmts

Issue Date

2021-10-12

Situs

Cleveland

State

OH

Clmd Compensatory

1041.4

Total Amt Awarded

160.0

Compensatory Awarded

160.0

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 customer is granted rescission in her investment in Eden Rock Montenegro LLC and is awarded compensatory damages relating to her investment in GPB Capital Holdings, an alleged Ponzi scheme. The other two Claimants settled their case against Respondents.

Notes

Rescission Granted. All-Public Panel.

Arbitrators

Kevin Brodar - Chair; James Dale Ellis, CPA, JD; Carol Jean Bader

Broker-Dealers Named

McDonald Partners LLC

Professionals

  • Cs: Chad M. Kohler & David P. Meyer, Meyer Wilson Company LPA, Columbus, OH.
  • Rs: (MPLLC & TMM) Michael A. Gross, Ulmer & Berne LLP, Boca Raton, FL. OSC and Michael J. Charlillo, Ulmer & Berne LLP, Cleveland, OH. OSC.

TypeDisp

SmallClms

Allegation I

FailToObey

Short Caption

Plevelich v. Fidelity Brokerage

Allegation II

Operations

Forum

FINRA

Allegation III

Docket No

21-01492

Products

Options; Margin

Issue Date

2021-10-14

Situs

Philadelphia

State

PA

Clmd Compensatory

18.3

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 customer alleging trading errors with respect to call options and margin contracts on GME loses his case and is ordered to pay Respondent broker-dealer damages on its breach of contract claim.

Notes

Please Note* This matter proceeded pursuant to Rule 12800 of the Code.

Arbitrators

John James McGovern, Jr., Esq.

Broker-Dealers Named

Fidelity Brokerage Services LLC

Professionals

  • Cs: Pro se.
  • Rs: (FBSLLC) Joel M. Everest, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Canabal v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

21-00761

Products

MutualFunds; MuniSecs

Issue Date

2021-10-15

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 explains in detail why he has decided to grant a broker's request for expungement of two customer complaints from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted. Explained Award.

Arbitrators

Martin A. Feigenbaum, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated; UBS Financial Services Incorporated of Puerto Rico

Professionals

  • Cs: (AMC) Sonia M. Lopez del Valle & Roberto C. Quinones, McConnell Valdes LLC, San Juan, PR.
  • Rs: (UBSFSInc & UBSFSIncPR) Rey F. Medina Velez, San Juan, PR. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Landivar v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

21-01049

Products

MutualFunds

Issue Date

2021-10-15

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 details as to why he has decided to grant a broker's request for expungement of a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted. Explained Award.

Arbitrators

Martin A. Feigenbaum, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated of Puerto Rico

Professionals

  • Cs: (FJL) Leslie Flores & Roberto C. Quinones-Rivera, McConnell Valdes LLC, San Juan, PR.
  • Rs: (UBSFSIncPR) Rey F. Medina Velez, San Juan, PR. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Bell v. New England Securities

Allegation II

Forum

FINRA

Allegation III

Docket No

21-00559

Products

VariableAnnuities

Issue Date

2021-10-20

Situs

Memphis

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 granted expungement of a customer complaint from appearing on his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Gayle B. Carlson, Esq.

Broker-Dealers Named

New England Securities Corporation

Professionals

  • Cs: (WJB) Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (NESCorp) Martin Harris, Harris & Affiliates Limited, Chicago, IL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Cosinuke v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

21-00897

Products

EqOptions

Issue Date

2021-10-20

Situs

Montpelier

State

VT

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 two customer complaints from appearing on his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Robert E. Anderson, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (TRC) Dochtor Kennedy & Harris Freedman, AdvisorLaw LLC, Westminster, CO.
  • Rs: (UBSFSInc) John Murphy, J. Murphy & Associates, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Donnelly v. Prudential Equity

Allegation II

Forum

FINRA

Allegation III

Docket No

21-00439

Products

Equity

Issue Date

2021-10-20

Situs

Seattle

State

WA

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 his request for expungement of three customer complaints from appearing on his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Stephany Adriene Watson, Esq.

Broker-Dealers Named

Prudential Equity Group LLC

Professionals

  • Cs: (DJD) Michael Bessette, HLBS Law, Westminster, CO.
  • Rs: (PEGLLC) Jennifer E. Novoselsky, Reyes Kurson Limited, Chicago, IL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Burish v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

20-03005

Products

NP

Issue Date

2021-10-13

Situs

Milwaukee

State

WI

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

Claimant broker is granted his request for expungement of a customer complaint from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Philip J. Glick, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (ADB) William McC. Montgomery & Ashley E. Impellitteri, Keesal Young & Logan, Long Beach, CA.
  • Rs: (UBSFSInc) Omar Perez, UBS Business Solutions US LLC, Nashville, TN. ISC.
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