* 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 (Individually and on behalf of their respective IRAs) settle their case against Respondents involving their investments in bonds and preferred stocks. Non-Party broker is granted his request for expungement of this matter from his CRD record.
Notes
This is a Stipulated Award. Rescission Requested. All-Public Panel. Arbitrator Remarks -- Expungement granted.
People & Entities
Arbitrators
Joyce L. Hurley - Chair; Rosa Linda Guadarrama; Randall William Clow
Broker-Dealers Named
Morgan Stanley; Stifel Nicolaus & Company Incorporated
Professionals
Cs: Matt Wolper, Wolper Law Firm, Plantation, FL.
Rs: (MSSBLLC) Alan D. Romero, Morgan Stanley Wealth Management Legal and Compliance Division, San Francisco, CA. ISC.
Rs: (SN&CInc) Kendra S. Canape & Rachel A. Weitzman, Gordon Rees et al., Irvine, CA. 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 Panel provides background information and explains why it has decided to grant a broker's request for expungement of a complaint from her CRD record despite the objection of the customer after finding that said broker met the high burden of proof for awarding such relief.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Ronald Chun - Chair; Vivian L. Kral, Esq.; Timothy P. Bogan, CPA
Broker-Dealers Named
UBS Financial Services Incorporated
Professionals
Cs: (JYZ) Anthony J. Borrelli & Rebecca A. Borgese, Riker Danzig LLP, Morristown, NJ.
Rs: (UBSFSInc) Melissa J. Gworek, UBS Business Solutions US LLC, Nashville, TN. 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 Claimant alleging that Respondent registered representative allowed improper account transfers against her directives and interfered with her authority over her parents well-being by creating a new Power of Attorney settles her case against Respondents. Respondent registered representative is granted his request for expungement of this matter from his CRD record.
Notes
This is a Stipulated Award. All-Public Panel. Arbitrator Remarks -- Expungement granted.
Arbitrators
Mark A. Myers. Esq. - Chair; Lynne R. Stern; Valerie Turner Schexnayder
Broker-Dealers Named
LPL Financial LLC; Galiano Wealth Management Group LLC
Professionals
Cs: Charles Benjamin Landry, Attorney-at-Law, Lafayette, LA.
Rs: (LPLFLLC, RJG & GWMGLLC) John W. Joyce & Mithun B. Kamath & Lance W. Waters, Barrasso Usdin et al., New Orleans, LA. 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 non-appearing registered representative is held liable for the amounts due and owing pursuant to a promissory note agreement he executed as part of his employment with Claimant broker-dealer.
Notes
Arbitrator Remarks.
Arbitrators
Jonathan H. Krotinger, Esq.
Broker-Dealers Named
Wells Fargo Clearing Services LLC
Professionals
Cs: (WFCSLLC) Stephen J. Steinlight, Troutman Pepper et al., 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."
Case Summary
In this small claims arbitration, a customer alleging that Respondent broker-dealer allowed a fraudulent wire transfer to be executed by an unauthorized third-party loses her case.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. The Customer/Claimant did not request a hearing.
* 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
Although withdrawing four of his requests for expungement, a broker still loses his remaining request for expungement of another customer complaint from his CRD record.
Notes
None.
Arbitrators
Ted M. Rosen, Esq.
Broker-Dealers Named
Aegis Capital Corporation
Professionals
Cs: (HW) Avinoam Rosenfeld, The Rosenfeld Law Office PLLC, Lawrence, NY.
* 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 customer is held liable to Claimant broker-dealer for the negative balance due and owing as a result of a margin debit that he incurred in his account after the liquidation of AVGR stock.
Notes
Please Note* This matter proceeded pursuant to Rule 13800 of the Code.
* 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 registered representative's request for reformation of his Form U5 record, finding that the information submitted by Respondent broker-dealer on his Form U5 is accurate, truthful, and complies with FINRA rules and regulations.
* 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 after the Arbitrator found that said complaint under FINRA Rule 2080(b)(1)(A) and (B) to be factually impossible or clearly erroneous and that he was not involved in the alleged investment-related sales practice violation.
Rs: (KCInc) Carol Wildermuth, Chief Financial Officer, Jacksonville, FL. ISC.
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.
