UPDATE : ARBchek

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

New Award Briefs

Report Dated: 2019-11-12

2019-40

Primary Sort

Secondary Sort

Dispute Information

Damages*

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Miramontes v. Morgan Stanley

Allegation II

Forum

FINRA

Allegation III

Docket No

18-03081

Products

Equity

Issue Date

2019-10-08

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

A registered representative is awarded expungement of a FINRA Arbitration case, 00-04523, appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

People & Entities

Arbitrators

Anita Rae Shapiro, Esq.

Broker-Dealers Named

Morgan Stanley & Company Incorporated

Professionals

  • Cs: (IZM) David Harrison, Law Offices of D. Harrison, Beverly Hills, CA.
  • Rs: (MS&CLLC) Eric Chen, Morgan Stanley Wealth Management, San Francisco, CA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Miramontes v. Morgan Stanley

Allegation II

Forum

FINRA

Allegation III

Docket No

18-03660

Products

MutualFunds

Issue Date

2019-10-11

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

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

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Natalie Panossian-Bassler

Broker-Dealers Named

Morgan Stanley & Company LLC; UBS Financial Services Incorporated

Professionals

  • Cs: (IZM) David Harrison, Law Offices of D. Harrison, Beverly Hills, CA.
  • Rs: (MS&CLLC) Nicholas Y. Lin, San Francisco, CA. ISC.
  • Rs: (UBSFSInc) Elizabeth H. Lindh, Keesal Young & Logan, Long Beach, CA. OSC.

TypeDisp

CustomerMember

Allegation I

UnauthTdg

Short Caption

Jiau v. HSBC Securities

Allegation II

Suitability

Forum

FINRA

Allegation III

Misreprestn

Docket No

18-04167

Products

MutualFunds

Issue Date

2019-10-07

Situs

Los Angeles

State

CA

Clmd Compensatory

11.0

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

Two customers alleging unauthorized trading and conversion, among other things, lose their claim against Respondent broker-dealer and broker relating to their investment in Global Macro Absolute Return Fund (A).

Notes

Majority Public Panel.

Arbitrators

Edward A. Trabin, Esq. - Chair; Arthur T. Berggren, Esq.; Nir Hanien

Broker-Dealers Named

HSBC Securities (USA) Incorporated; HSBC Bank USA National Association

Professionals

  • Cs: Wileen Leu, The Law Office of W. Leu, Los Angeles, CA.
  • Rs: (HSBCS(USA)Inc. & CSC) Emily C. Grimm & Christian T. Kemnitz, Katten Muchin Rosenman LLP, Los Angeles, CA. OSC.
  • Rs: (HSBCBnkUSANAssoc) No-show. -- Did not voluntarily submit to arbitration.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Richmond v. LPL Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

18-04376

Products

VariableAnnuities

Issue Date

2019-10-11

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

A broker is awarded expungement of a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Michael Lancaster Garcia

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: (MCR) Frances Menzer, Of Counsel, HLBS Law, Westminster, CO.
  • Rs: (LPLFLLC) Jon D. Kaplon, Boston, MA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Morgan v. Securities America

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00011

Products

DirectInvesmts; REITs

Issue Date

2019-10-10

Situs

San Francisco

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 Claimant broker expungement of two FINRA Arbitration cases and two customer complaints from his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Mary Margaret Bush, Esq.

Broker-Dealers Named

Securities America Incorporated

Professionals

  • Cs: (GRM) Scott E. Rahn & Matthew Baker, RMO LP, Los Angeles, CA.
  • Rs: (SAInc) Chad Weaver & Joseph Suarez, Freeman Mathis & Gary, Seal Beach, CA. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Detanna v. Citigroup Global

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00015

Products

Equity

Issue Date

2019-10-08

Situs

Los Angeles

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 grants Claimant broker's request for expungement of two customer initiated arbitration cases from her CRD record. Claimant broker voluntarily withdrew her request for expungement of a third initiated arbitration case.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Robert D. Sussin, Esq.

Broker-Dealers Named

Citigroup Global Markets Incorporated; Morgan Stanley & Company LLC

Professionals

  • Cs: (LAD) Scott Rahn, RMO LLP, Los Angeles, CA.
  • Rs: (CGMInc) Adam M. Kauff, Kauff Laton Miller LLP, New York, NY. OSC.
  • Rs: (MS&CLLC) Chan Nam, Morgan Stanley Wealth Management, New York, NY. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Burga v. Multiple Financial

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

19-00306

Products

NP

Issue Date

2019-10-10

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

A Panel unanimously dismisses Claimant broker's request for Reformation of his Form U-5 record without prejudice due to his failure to pursue his claim.

Notes

Pre-Hearing Adjudication -- Full Dismissal.

Arbitrators

George L. Tindall - Chair; Samuel Lui; Ronald D. Goldman

Broker-Dealers Named

Multiple Financial Services Incorporated

Professionals

  • Cs: (GLB) None.
  • Rs: (MFSInc) Michael H. Flammer, Chief Executive Officer, Irvine, CA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Henningson v. Cetera Advisor

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00515

Products

Annuities

Issue Date

2019-10-10

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

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

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

George L. Tindall

Broker-Dealers Named

Cetera Advisor Networks LLC

Professionals

  • Cs: (SCH) Stephan Louviere, Wolper Law Firm, Plantation, FL.
  • Rs: (CANLLC) Jeremy Carr, Cetera Financial Group, El Segundo, CA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Sherman v. Equity Services

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00518

Products

REITs; MutualFunds

Issue Date

2019-10-11

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

A broker is granted expungement of three customer complaints appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

George L. Tindall

Broker-Dealers Named

Equity Services Incorporated

Professionals

  • Cs: (GS) Stephan Louviere, Wolper Law Firm, Plantation, FL.
  • Rs: (ESInc) Derek C. Anderson, Winget Spadafora & Schwartzberg, Boulder, CO. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Manko v. Wells Fargo

Allegation II

BreachContract

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

18-01549

Products

Annuities

Issue Date

2019-10-08

Situs

Hartford

State

CT

Clmd Compensatory

0.0

Total Amt Awarded

Equity

Compensatory Awarded

Equity

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 settles her claims against Respondent broker-dealer and broker relating to her investment in annuities. Respondent broker loses his request for expungement of this matter from his CRD record.

Notes

This is a Stipulated Award. All-Public Panel.

Arbitrators

Catherine Stewart, Esq. - Chair; Mae A. Brudner; Thomas Matthew Madden

Broker-Dealers Named

Wells Fargo Advisors Financial Network

Professionals

  • Cs: Matthew J. McDonald, Klehr Harrison et al., Philadelphia, PA.
  • Rs: (WFAFNLLC & TMG) Michael Naccarato, Wells Fargo Legal Department, St. Louis, MO. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Wojnowski v. Morgan Stanley

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00288

Products

Options; Margin; MutualFunds

Issue Date

2019-10-11

Situs

Orlando

State

FL

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 is awarded expungement of three customer complaints from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Stuart K. Furman

Broker-Dealers Named

Morgan Stanley DW Incorporated

Professionals

  • Cs: (DAW) Harris Freedman, HLBS Law, Westminster, CO.
  • Rs: (MSDWInc) Christopher M. Sacco, St. Petersburg, FL. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Marlow v. Ameriprise Financial

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

19-00768

Products

NP

Issue Date

2019-10-09

Situs

Omaha

State

NE

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 Claimant broker's request for Reformation of his Form U-5 record.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

John R. Loss, Esq.

Broker-Dealers Named

Ameriprise Financial Services Incorporated

Professionals

  • Cs: (BRM) Frances Menzer & Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (AFSInc) Edward A. Walton & Sydney Crowder, Troy, MI. ISC.

TypeDisp

CustomerMember

Allegation I

UnauthTdg

Short Caption

Aliotta v. UBS Financial

Allegation II

Suitability

Forum

FINRA

Allegation III

Supervision

Docket No

18-01105

Products

MuniSecs

Issue Date

2019-10-07

Situs

New York

State

NY

Clmd Compensatory

75.0

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 customers (a mother and daughter) settle their claims against Respondent broker-dealer and broker relating to their investment in Puerto Rico bonds. Respondent broker is awarded expungement of this matter from her CRD record.

Notes

This is a Stipulated Award. Arbitrator Remarks -- Expungement granted.

Arbitrators

Robert E. Anderson, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: Christopher P. Milazzo, Carmel Milazzo & DiChiara, New York, NY.
  • Rs: (UBSFSInc & DAB) Anthony J. Borrelli, Riker Danzig et al., Morristown, NJ. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Buchan v. AG Edwards

Allegation II

Forum

FINRA

Allegation III

Docket No

18-04407

Products

NP

Issue Date

2019-10-07

Situs

Syracuse

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

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

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Stuart M. Schwartz, Esq.

Broker-Dealers Named

AG Edwards & Sons Incorporated

Professionals

  • Cs: (CGB) Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (AGE&SInc) Deirdre Wolff, Wells Fargo Legal Department, St. Louis, MO. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Nasseri v. Aegis Capital

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

19-00006

Products

NP

Issue Date

2019-10-11

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 his Form U-5 record.

Notes

None.

Arbitrators

Arthur Neil Tolciss, Esq.

Broker-Dealers Named

Aegis Capital Corporation

Professionals

  • Cs: (KHN) None.
  • Rs: (ACCorp) Michael P. Gilmore, Moss & Gilmore, Mineola, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Rosenberg v. Raymond James

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00627

Products

Equity

Issue Date

2019-10-09

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 grants Claimant broker's request for expungement of two customer complaints appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Susan A. Romano - Chair; Susan C. Lushing, Esq.; Michael I. Stolzar

Broker-Dealers Named

Raymond James & Associates Incorporated

Professionals

  • Cs: (ARR) Stephen J. Ginsberg, Morrit Hock & Hamroff, New York, NY.
  • Rs: (RJ&AInc) Stanton A. Fears, Raymond James Financial Incorporated, St. Petersburg, FL. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Cummings v. UBS Securities

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

19-00660

Products

NP

Issue Date

2019-10-11

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 registered representative is granted Reformation of his Form U-5 record.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Howard D. Jacob, Esq.

Broker-Dealers Named

UBS Securities LLC

Professionals

  • Cs: (BLC) Irwin Weltz, Weltz Law PC, Mineola, NY.
  • Rs: (UBSSLLC) Christine M. Fitzgerald, UBS Business Solutions US LLC, Stamford, CT. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Gimeli v. GunnAllen Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00678

Products

Equity; Margin

Issue Date

2019-10-11

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

Claimant broker is awarded expungement of two customer complaints appearing on his CRD record. Said broker's request for expungement of two more customer complaints was denied by the Arbitrator.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Cheryl H. Agris, PhD

Broker-Dealers Named

GunnAllen Financial Incorporated; First Midwest Securities Incorporated; First Cambridge Securities Corporation; Investec Ernst & Company

Professionals

  • Cs: (MRG) Irwin Weltz, Weltz Law PC, Mineola, NY.
  • Rs: (GAFInc) No-show.
  • Rs: (FMSInc) No-show.
  • Rs: (FCSCorp) No-show.
  • Rs: (IE&Co) Stephen M. Medow, Herrick Feinstein LLP, New York, NY. OSC.

TypeDisp

SmallClms

Allegation I

BestExecution

Short Caption

Keats v. Fidelity Brokerage

Allegation II

Forum

FINRA

Allegation III

Docket No

19-01017

Products

Equity

Issue Date

2019-10-11

Situs

New York

State

NY

Clmd Compensatory

1.4

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 case, a customer loses his claim relating to the sale of Sangamo Therapeutics (SGMO) shares of stocks.

Notes

None.

Arbitrators

Harvey Barrison, Esq.

Broker-Dealers Named

Fidelity Brokerage Services LLC

Professionals

  • Cs: Pro se.
  • Rs: (FBSLLC) Noah D. Sorkin, FMR LLC Legal Department, Boston, MA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Smith v. LPL Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00296

Products

Equity; Options

Issue Date

2019-10-07

Situs

Oklahoma City

State

OK

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 customer dispute information appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

C. Sumpter Logan

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: (CDS) Michael O'Gara, AdvisorLaw LLC, Westminster, CO.
  • Rs: (LPLFLLC) Jon D. Kaplon, Boston, MA. ISC.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

Kestra Investment v. Seglund

Allegation II

BreachContract

Forum

FINRA

Allegation III

UnjustEnrichment

Docket No

18-02348

Products

PromissoryNote

Issue Date

2019-10-11

Situs

Portland

State

OR

Clmd Compensatory

42.4

Total Amt Awarded

61.2

Compensatory Awarded

42.4

Punitive Damage Awarded

Attorney Fees Awarded

18.8

* 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

Respondent broker is held liable to Claimant broker-dealers for damages due and owing pursuant to the terms of the Registered Representative Agreement and the terms of a Forgivable Loan Promissory Note.

Notes

Arbitrator Remarks.

Arbitrators

Bert P. Krages, II

Broker-Dealers Named

Kestra Investment Services LLC fka NFP Advisor Services LLC; Kestra Financial Incorporated

Professionals

  • Cs: (KISLLC & KFInc) Richard A. D'Amura & David J. Lehr, D'Amura & Zaidman, Austin, TX. OSC.
  • Rs: (SPS) None.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Hardley v. Citizens Securities

Allegation II

Defamation

Forum

FINRA

Allegation III

WrongTerm

Docket No

18-02103

Products

NP

Issue Date

2019-10-11

Situs

Philadelphia

State

PA

Clmd Compensatory

70.0

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 broker alleging wrongful termination and seeking Reformation of his Form U-5 record loses said claims against Respondent broker-dealer and broker.

Notes

Directed Verdict -- Full Dismissal.

Arbitrators

Gregory Hunter Mathews

Broker-Dealers Named

Citizens Securities Incorporated

Professionals

  • Cs: (LEH) None.
  • Rs: (CSInc & NJM) Geoffrey W. Millsom, Adler Pollock & Sheehan, Providence, RI. OSC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Caso v. Ameriprise Financial

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

18-03956

Products

PromissoryNote

Issue Date

2019-10-09

Situs

Philadelphia

State

PA

Clmd Compensatory

0.0

Total Amt Awarded

Equity

Compensatory Awarded

Equity

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 broker is granted Reformation of his Form U-5 record.

Notes

This is a Stipulated Award. Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Suzanne Levin Wolfson, Esq. - Chair; Mary L. Sims; Peter D. Shelp, ChFC, CFP

Broker-Dealers Named

Ameriprise Financial Services Incorporated

Professionals

  • Cs: (TPC) None.
  • Rs: (AFSInc) Edward A. Walton, Troy, MI. ISC.
  • Rs: (TSR) Joel Wertman, Winget Spadafora & Schwartzberg, Philadelphia, PA.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

Wells Fargo v. Mandler

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

19-00432

Products

PromissoryNote

Issue Date

2019-10-09

Situs

PP

State

PP

Clmd Compensatory

191.9

Total Amt Awarded

223.1

Compensatory Awarded

191.9

Punitive Damage Awarded

Attorney Fees Awarded

10.0

* 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 non-appearing broker is held liable to Claimant broker-dealer for the amounts due and owing on a promissory note.

Notes

Arbitrator Remarks.

Arbitrators

Carl E. Ver Beek, JD

Broker-Dealers Named

Wells Fargo Clearing Services LLC dba Wells Fargo Advisors LLC

Professionals

  • Cs: (WFCSLLC) Renan I. Sugarman, Law Offices of R.I. Sugarman, Chicago, IL. OSC.
  • Rs: (JSM) No-show.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Boneta v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

19-01194

Products

MutualFunds

Issue Date

2019-10-08

Situs

San Juan

State

PR

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 Claimant broker's request for expungement of a settled customer arbitration stemming from the customers' investments in allegedly unsuitable Puerto Rico closed-end funds.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Martin A. Feigenbaum, Esq.

Broker-Dealers Named

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

Professionals

  • Cs: (AB) Linette Figueroa-Torres & Russell Del Toro III, Toro Colon Mullet PSC, San Juan, PR.
  • Rs: (UBSFSInc & UBSFSIncPR) Roberto C. Quinones & Sonia M. Lopez Del Valle, McConnell Valdes LLC, San Juan, PR. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Smith v. Banc of America

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00294

Products

Equity

Issue Date

2019-10-08

Situs

Dallas

State

TX

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 Claimant broker's request for expungement of a customer complaint appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Andrea U. Calve, Esq.

Broker-Dealers Named

Banc of America Investment Services Incorporated

Professionals

  • Cs: (CDS) Dochtor Kennedy & Michael O'Gara, AdvisorLaw LLC, Westminster, CO.
  • Rs: (BAISInc) W. Preston Martin, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Jain v. Wells Fargo

Allegation II

Misreprestn

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

18-01147

Products

MutualFunds

Issue Date

2019-10-10

Situs

Richmond

State

VA

Clmd Compensatory

2250.8

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

A group of customers lose their claim and are ordered by the Panel to pay Respondent broker-dealer $25,000 in discovery sanctions pursuant to Rules 12511 and 12212(a). The customers' claims involved their investment in the Agility Income Fund and Glenview Partners Fund.

Notes

Sanctions imposed. Majority Public Panel. Arbitrator Remarks.

Arbitrators

Elliot B. Platt, Esq. - Chair; Peter H. Goldberg; Donita M. King, Esq.

Broker-Dealers Named

Wells Fargo Clearing Services LLC; Wells Fargo Advisors Financial Network LLC

Professionals

  • Cs: David E. Robbins, Kaufman Gildin & Robbins, New York, NY.
  • Rs: (WFCSLLC) Demian J. Betz, Vice President & Senior Counsel, Wells Fargo & Company Law Department, Charlotte, NC. ISC.
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