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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