UPDATE : ARBchek

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

New Award Briefs

Report Dated: 2024-12-02

2024-24

Primary Sort

Secondary Sort

Dispute Information

Damages*

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

Krupka v. Oppenheimer & Company

Allegation II

BreachFiducDty

Forum

FINRA

Allegation III

BreachContract

Docket No

23-01541

Products

MuniSecs

Issue Date

2024-11-08

Situs

Los Angeles

State

CA

Clmd Compensatory

3000.0

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 seeking rescission of his investment in various municipal bonds including Arizona Industrial Development Authority Economic Development Revenue Bonds along with $3 million in compensatory damages loses his case against Respondent broker-dealer. A Non-Party broker is awarded expungement of this matter from his CRD record, while another Non-Party broker loses his request of the same.

Notes

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

People & Entities

Arbitrators

Paula K. Konikoff, Esq. - Chair; Theodore E. Danciart; Bruce Leslie Ishimatsu

Broker-Dealers Named

Oppenheimer & Company Incorporated

Professionals

  • Cs: David P. Meyer, Meyer Wilson Co. LPA, Columbus, OH.
  • Rs: (O&CInc) Donald A. Corbett, New York, NY. ISC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

McKinley v. First Republic

Allegation II

Misreprestn

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

23-02462

Products

Equity

Issue Date

2024-11-04

Situs

San Francisco

State

CA

Clmd Compensatory

7498.5

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 alleging elder abuse and seeking nearly $7.5 million in compensatory damages settle their case against Respondent broker-dealer and registered representative. Registered representative is awarded expungement of this matter from his CRD record.

Notes

This is a Stipulated Award. All-Public Panel. Arbitrator Remarks -- Expungement granted.

Arbitrators

Philip Aaron Tymon, JD - Chair; Gary S. DeWeese; Jonathan Polland

Broker-Dealers Named

First Republic Securities Company LLC

Professionals

  • Cs: Tyson C. Redenbarger, Cotchett Pitre & McCarthy LLP, Burlingame, CA.
  • Rs: (FRSCLLC) Mark L. Parmelee, Greenberg Traurig LLP, White Plains, NY. OSC.
  • Rs: (SCS) E. Jeffrey Banchero, Banchero Law Firm LLP, San Francisco, CA. OSC.

TypeDisp

CustomerMember

Allegation I

Negligence

Short Caption

Matzner v. Robinhood Financial

Allegation II

IIED

Forum

FINRA

Allegation III

Docket No

23-03227

Products

Equity; Options; Margin

Issue Date

2024-11-04

Situs

San Diego

State

CA

Clmd Compensatory

350.0

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

An All-Public Panel grants Respondent broker-dealer's Motion to Dismiss (Directed Verdict) with prejudice pursuant to FINRA Rule 12504(b) after finding that Claimant failed to meet his burden of proof. Respondent broker-dealer prevails on its Counterclaim relating to an unpaid debit balance in Claimant's securities account.

Notes

Directed Verdict -- Full Dismissal. All-Public Panel. Arbitrator Remarks.

Arbitrators

Barbara M. Zak, Esq. - Chair; Katherine Jane Morris; William (Lee) Biddle

Broker-Dealers Named

Robinhood Financial LLC

Professionals

  • Cs: Pro se.
  • Rs: (RFLLC) William M. Turner, Turner Dhillon LLP, Los Angeles, CA. OSC.

TypeDisp

SmallClms

Allegation I

Negligence

Short Caption

Elshafei v. Wells Fargo

Allegation II

BreachFiducDty

Forum

FINRA

Allegation III

Docket No

24-00789

Products

*

Issue Date

2024-11-05

Situs

San Diego

State

CA

Clmd Compensatory

36.5

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 unethical practices on the part of Respondent broker-dealer loses her case.

Notes

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

Arbitrators

Randall Brian Christison

Broker-Dealers Named

Wells Fargo Clearing Services LLC

Professionals

  • Cs: Pro se.
  • Rs: (WFCSLLC) Geoff Beckham, Wells Fargo Legal Department, San Francisco, CA. ISC.

TypeDisp

CustomerEmployee

Allegation I

Misreprestn

Short Caption

Eyal v. Feldman

Allegation II

Suitability

Forum

FINRA

Allegation III

BreachContract

Docket No

22-01199

Products

CorpDebt; Equity

Issue Date

2024-11-06

Situs

Boca Raton

State

FL

Clmd Compensatory

800.0

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

Two customers (Individually and on behalf of their IRAs) alleging that they were aggressively pushed into purchasing high-risk investments such as junk bonds and structured products settle their case against Respondent broker. Respondent broker settles his Counterclaim for defamation and is awarded expungement of this matter from his CRD record.

Notes

This is a Stipulated Award. All-Public Panel. Arbitrator Remarks -- Expungement granted.

Arbitrators

Peter Shapiro - Chair; Seth L. Finkel, Esq.; Nancy Rosenbaum Kessler, JD

Broker-Dealers Named

None.

Professionals

  • Cs: Gary S. Menzer & Michael Hill, Menzer & Hill, Boca Raton, FL.
  • Rs: (ZF) Andrew S. May, Hahn Loeser & Parks LLP, Chicago, IL.

TypeDisp

SmallClms

Allegation I

Suitability

Short Caption

Shank v. Fidelity Brokerage

Allegation II

Forum

FINRA

Allegation III

Docket No

24-00502

Products

MuniSecs

Issue Date

2024-10-30

Situs

Boca Raton

State

FL

Clmd Compensatory

49.6

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 two customers' claims against Respondent broker-dealer after finding that said customers failed to provide evidence of a loss resulting from the conduct of Respondent broker-dealer. In fact, the Arbitrator found that Respondent broker-dealer's conduct throughout the period of time when they maintained account was reasonable and appropriate.

Notes

Please Note* This matter proceeded pursuant to Rule 12800 of the Code under the Special Proceeding option. Arbitrator Remarks -- Explained Award.

Arbitrators

Peter Shapiro

Broker-Dealers Named

Fidelity Brokerage Services LLC

Professionals

  • Cs: Pro se, through Martin H. Shank, Coral Springs, FL.
  • Rs: (FBSLLC) Kevin S. Blume, FMR LLC Legal Department, Boston, MA. ISC and Preston Martin, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Bunge v. JP Morgan

Allegation II

Forum

FINRA

Allegation III

Docket No

24-01133

Products

NP

Issue Date

2024-11-05

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

An All-Public Panel grants Claimant registered representative's request for expungement of a customer complaint from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Neil Harvey Smith - Chair; Steven R. Rolnick, Esq.; Lawrence R. Mills

Broker-Dealers Named

JP Morgan Securities LLC

Professionals

  • Cs: (AAB) Ronald J. Tomassi, Leon Cosgrove Jimenez LLP, Denver, CO.
  • Rs: (JPMSLLC) Michael A. Gross, UBS Greensfelder LLP, Boca Raton, FL. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Huddleston v. JP Morgan

Allegation II

FailToObey

Forum

FINRA

Allegation III

Misreprestn

Docket No

23-00591

Products

NP

Issue Date

2024-10-28

Situs

Atlanta

State

GA

Clmd Compensatory

100.0

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

A customer (individually and on behalf of IRA) alleging mismanagement of his retirement savings settles his case against Respondent broker-dealer. A Non-Party registered representative is awarded expungement of this matter from her CRD record.

Notes

This is a Stipulated Award. Rescission Requested. All-Public Panel. Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Thomas James Hirsch - Chair; Shaquana Ellison

Broker-Dealers Named

JP Morgan Securities LLC

Professionals

  • Cs: Samuel B. Edwards, Shepard Smith et al., Houston, TX.
  • Rs: (JPMSLLC) Jason R. Lindsay & Hannah B. Shanks-Parkin, Greenberg Traurig LLP, Los Angeles, CA. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Kort v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

23-02999

Products

NP

Issue Date

2024-11-01

Situs

Chicago

State

IL

Clmd Compensatory

Equity

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

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

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

James J. Stamos, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (FMK) Harris Freedman, HLBS Law, Broomfield, CO.
  • Rs: (UBSFSInc) John Murphy, J. Murphy & Associates, New York, NY. OSC.

TypeDisp

SmallClms

Allegation I

FailToObey

Short Caption

Vitale v. E*TRADE Securities

Allegation II

Operations

Forum

FINRA

Allegation III

Docket No

24-00449

Products

Equity

Issue Date

2024-10-28

Situs

Chicago

State

IL

Clmd Compensatory

0.3

Total Amt Awarded

0.3

Compensatory Awarded

0.3

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 Respondent broker-dealer failed to timely execute his request to close his short position in SPWR, thus causing the price of his position to be more than on the previous day when the request was made is awarded compensatory damages.

Notes

Please Note* This matter proceeded pursuant to Rule 12800 of the Code under the Special Proceeding option.

Arbitrators

Leon Fox, JD

Broker-Dealers Named

E*TRADE Securities LLC

Professionals

  • Cs: Pro se.
  • Rs: (ETRADESLLC) Alan D. Romero, Morgan Stanley Wealth Management, San Francisco, CA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Ray v. LPL Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

24-01237

Products

NP

Issue Date

2024-11-06

Situs

Detroit

State

MI

Clmd Compensatory

Equity

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

A Panel awards a broker expungement of a customer complaint from appearing on his CRD record after finding he was not involved with the investment-related sales practice violation and said complaint was false.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Laura A. Kaster - Chair; David I. Levine, Esq.; Philip Aaron Tymon, JD

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: (DPR) None.
  • Rs: (LPLFLLC) Kristine R. Thomson & Eric A. Michaels, Saretsky Hart et al., Birmingham, MI. OSC.

TypeDisp

EmployeeMember

Allegation I

Discrimination(Age&Gender)

Short Caption

Collins v. RBC Capital

Allegation II

UnjustEnrichment

Forum

FINRA

Allegation III

Reformation(U-5)

Docket No

20-02507

Products

NP

Issue Date

2024-10-30

Situs

Minneapolis

State

MN

Clmd Compensatory

6346.8

Total Amt Awarded

9649.6

Compensatory Awarded

6071.8

Punitive Damage Awarded

2000.0

Attorney Fees Awarded

1414.3

* 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 Big $s Award, a broker is awarded over $9 million in damages (inclusive of $2 million in punitive damages) from her former employer after the Panel found Respondent broker-dealer liable on her statutory employment discrimination claims pursuant to Minn. Stat. §363A.02 subd. 1(a)(a). Claimant's case stems from allegations that Respondent broker-dealer wrongfully terminated her due to gender and age as she was nearing retirement.

Notes

Big $s. Punitive Damages Awarded. Age and Gender Discrimination case. Panel composition issue. Majority Public Panel. Arbitrator Remarks.

Arbitrators

Nathaniel Cade, Jr., Esq. - Chair; Kevin D. Hofman, Esq.; Jo Anne F. Lewellen, JD

Broker-Dealers Named

RBC Capital Markets LLC

Professionals

  • Cs: (CC) Joseph W. Anthony & Cory D. Olson, Anthony Ostlund et al., Minneapolis, MN.
  • Rs: (RBCCMLLC) Jill L. Rosenberg, Orrick Herrington & Sutcliffe LLP, New York, NY. OSC and Stephen M. Phillips & Jennifer Zwilling, Jackson Lewis PC, Minneapolis, MN. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Lawrence v. Morgan Stanley

Allegation II

Forum

FINRA

Allegation III

Docket No

24-00990

Products

Equity

Issue Date

2024-11-08

Situs

Jackson

State

MS

Clmd Compensatory

Equity

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

Attorney Fees Awarded

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Case Summary

A Panel awards a registered representative expungement of a customer complaint from appearing on his CRD record after finding said complaint to be false under FINRA Rule 2080.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Eric Ross Cromartie - Chair; Robert S. Zuckerman, Esq.; Fern M. Laethem

Broker-Dealers Named

Morgan Stanley

Professionals

  • Cs: (RKL) Brian Luther, FA Expungement Services LLC, Denver, CO.
  • Rs: (MSSBLLC) Trae D. Meyr, St. Petersburg, FL. ISC.

TypeDisp

SmallClms

Allegation I

Negligence

Short Caption

Maddox v. Wefunder Portal

Allegation II

Operations

Forum

FINRA

Allegation III

Suitability

Docket No

24-01314

Products

DirectInvesmts; CrowdFunding

Issue Date

2024-10-30

Situs

Albuquerque

State

NM

Clmd Compensatory

1.0

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

In this small claims arbitration, a crowdfunding investor seeking a refund of his investment in Cityzenith loses his case after the Arbitrator found that the deadline to request a refund from Respondent expired and his investment was transferred to the crowdfunding recipient.

Notes

Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing. Arbitrator Remarks -- Explained Award.

Arbitrators

W. Michael Kelley, Esq.

Broker-Dealers Named

Wefunder Portal LLC

Professionals

  • Cs: Pro se.
  • Rs: (WPLLC) Christopher Vail, San Francisco, CA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Hyslop v. Morgan Stanley

Allegation II

Forum

FINRA

Allegation III

Docket No

23-02831

Products

Options

Issue Date

2024-11-01

Situs

Reno

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

A Panel grants a broker's request for expungement of a customer complaint from his CRD record after finding that said request met all three criteria under FINRA Rule 2080.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

William W. Haskell, Esq. - Chair; Nancy Hutt, Esq.; Howard A. Buchler

Broker-Dealers Named

Morgan Stanley

Professionals

  • Cs: (RRH) Michael Kalmus, Law Offices of M. Kalmus, New York, NY.
  • Rs: (MSSBLLC) Jeffrey P. Palmer, Greenberg Traurig LLP, East Palo Alto, CA. OSC.

TypeDisp

CustomerMember

Allegation I

Negligence

Short Caption

Collins v. E*Trade Securities

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

23-00431

Products

Equity

Issue Date

2024-11-04

Situs

New York

State

NY

Clmd Compensatory

3753.2

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 majority of the Panel granted Respondent broker-dealer's Motion for Directed Verdict based upon their finding that the customers failed to meet their burden of proof to show that Respondent violated a rule or policy pertaining to handling accounts of vulnerable seniors to address potential scams.

Notes

Directed Verdict -- Full Dismissal. Majority Public Panel. Arbitrator Remarks -- Arbitrator Chair dissents with explanation.

Arbitrators

Anna M. Fanelli, Esq. - Chair (Dissents); Kevin Marcus-Kanesaka; Edward Carrasco

Broker-Dealers Named

E*Trade Securities LLC

Professionals

  • Cs: Noam Greenspan, Talkin Muccigrosso & Roberts LLP, New York, NY.
  • Rs: (E*TSLLC) Daniel R. Korb Jr., Bressler Amery & Ross, Florham Park, NJ. OSC.

TypeDisp

CustomerMember

Allegation I

UnauthTdg

Short Caption

Ploski v. Morgan Stanley

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Operations

Docket No

24-00598

Products

EqOptions

Issue Date

2024-11-07

Situs

New York

State

NY

Clmd Compensatory

53.0

Total Amt Awarded

3.8

Compensatory Awarded

3.8

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 his account was improperly handled and his shares in the Spotify Stock Plan were sold without adequate notice or consent is awarded compensatory damages from Respondent broker-dealers.

Notes

None.

Arbitrators

Kent L. Benziger, Esq.

Broker-Dealers Named

Morgan Stanley & Company LLC; E*Trade Securities LLC

Professionals

  • Cs: Pro se.
  • Rs: (MS&CLLC & E*TSLLC) John E. Bersin, Roseville, CA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Abouzied v. JP Morgan

Allegation II

Forum

FINRA

Allegation III

Docket No

24-00851

Products

NP

Issue Date

2024-10-30

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

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Peter A. Goldman, Esq. - Chair; Stuart Sinai, Esq.; Jane C. Carney, CPA

Broker-Dealers Named

JP Morgan Securities LLC

Professionals

  • Cs: (JCA) Michael A. Gross, UB Greensfelder LLP, Boca Raton, FL.
  • Rs: (JPMSLLC) Alyson A. Terrell, JPMorgan Chase Legal Department, Columbus, OH. ISC.

TypeDisp

SmallClms

Allegation I

FailToObey

Short Caption

Mann v. Fidelity Brokerage

Allegation II

Operations

Forum

FINRA

Allegation III

Docket No

24-01178

Products

ETFs

Issue Date

2024-10-30

Situs

Cleveland

State

OH

Clmd Compensatory

6.1

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

In this small claims arbitration, a customer alleging that his mother (as power of attorney) was unable to sell his short ETF positions due his account being improperly frozen loses his case against Respondent broker-dealer.

Notes

Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing.

Arbitrators

Louis Charles Schmitt, Jr.

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

Viscounte v. Pruco Securities

Allegation II

Forum

FINRA

Allegation III

Docket No

23-02954

Products

VariableAnnuities

Issue Date

2024-11-06

Situs

Philadelphia

State

PA

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

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Fred W. Miller, Esq.

Broker-Dealers Named

Pruco Securities LLC

Professionals

  • Cs: (JTV) William R. Bean & Owen Harnett, HLBS Law, Broomfield, CO.
  • Rs: (PSLLC) Jennifer E. Novoselsky, Reyes Kurson Limited, Chicago, IL. OSC.

TypeDisp

CustomerMember

Allegation I

Churning

Short Caption

Sala-Colon v. Pariter Wealth Management

Allegation II

Suitability

Forum

FINRA

Allegation III

Misreprestn

Docket No

24-00002

Products

DirectInvesmts; REITs; Equity; LifeInsurance

Issue Date

2024-11-04

Situs

San Juan

State

PR

Clmd Compensatory

9500.0

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 two customers (Individually and on behalf of their Conjugal Partnership and Retirement Plan) alleging elder abuse among other allegations and seeking $9.5 million in damages as well as rescission of their investment lose their case against Respondents on statute of limitations grounds pursuant to FINRA Rule 12206(a) (Six-year Eligibility Rule).

Notes

Pre-Hearing Adjudication -- Full Dismissal. Rescission Requested. All-Public Panel. Arbitrator Remarks.

Arbitrators

Wanda L. Esteras - Chair; Victor Calderon; Sergio A. Dominguez

Broker-Dealers Named

Pariter Wealth Management Group Incorporated; Pariter Securities LLC; Arkadios Capital Group; Arkadios Wealth Incorporated; Select Wealth Advisors LLC

Professionals

  • Cs: Francisco A. Feliu Nigaglioni, Business Law PR LLC, San Juan, PR.
  • Rs: (PSLLC) Roberto C. Quinones-Rivera, McConnell Valdes LLC, San Juan, PR. OSC.
  • Rs: (ACGp) Ubaldo M. Fernandez Barrera, O'Neill & Borges, San Juan, PR. OSC.
  • Rs: (PWMGInc, AWInc & SWALLC) No-show.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Koenig v. Edward Jones

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

24-00285

Products

NP

Issue Date

2024-11-08

Situs

Seattle

State

WA

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 her request for reformation of her Form U5 record.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Stephany Adriene Watson, Esq.

Broker-Dealers Named

Edward Jones

Professionals

  • Cs: (KAK) Harris Freedman & Dochtor Kennedy, AdvisorLaw, Broomfield, CO.
  • Rs: (EDJ&CLP) Jonathan W. Hackbarth, Quarles & Brady LLP, Milwaukee, WI. OSC.
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