UPDATE : ARBchek

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

New Award Briefs

Report Dated: 2021-03-04

2021-07

Primary Sort

Secondary Sort

Dispute Information

Damages*

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Deeds v. Farmers Financial

Allegation II

Misreprestn

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

18-02717

Products

DirectInvesmts

Issue Date

2021-02-12

Situs

Phoenix

State

AZ

Clmd Compensatory

432.0

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

0.0

Attorney Fees Awarded

Equity

* 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

Pursuant to the Claimant's Motion to Enforce Settlement, one named broker is held liable to said Claimant for damages including attorney fees under the terms of the settlement. Claimant also settles with Respondent broker-dealer and another named broker.

Notes

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

People & Entities

Arbitrators

I. Douglas Dunipace, Esq. - Chair; W. Michael Kelley, Esq.; David S. Eisenberg

Broker-Dealers Named

Farmers Financial Solutions LLC

Professionals

  • Cs: David Liebrader, The Law Office of D. Liebrader Incorporated, Las Vegas, NV.
  • Rs: (FFSLLC) Jared L. Sutton, Lewis Roca et al., Phoenix, AZ. OSC.
  • Rs: (JMA) Paul A. Reynolds, Shustak Reynolds & Partners, San Diego, CA.
  • Rs: (DRB) None.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Ledyard v. Ameriprise Advisor

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02491

Products

Equity

Issue Date

2021-02-11

Situs

Phoenix

State

AZ

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

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Howard R. Gaines, Esq.

Broker-Dealers Named

Ameriprise Advisor Services Incorporated

Professionals

  • Cs: (SHL) Erika Binnix & Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (AASInc) Howard M. Klausmeier, Ameriprise Financial Services LLC, Troy, MI. ISC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Feliksa v. Accelerated Capital

Allegation II

Misreprestn

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

17-03293

Products

Equity; MutualFunds

Issue Date

2021-02-08

Situs

San Francisco

State

CA

Clmd Compensatory

300.0

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

In this settled award, one Arbitrator provides an explanation regarding his dissent from the majority of the Panel relating to Respondent broker's request for expungement of this matter from his CRD record.

Notes

This is a Stipulated Award. All-Public Panel. Arbitrator Remarks -- Arbitrator dissents with explanation.

Arbitrators

George King, Esq. - Chair; John J. Fitzpatrick, Jr., Esq. (Dissents); Robert James Wilkie

Broker-Dealers Named

Accelerated Capital Group; Coastal Equities Incorporated

Professionals

  • Cs: Deanna Besbekos-LaPage, Stoltmann Law Office, Barrington, IL.
  • Rs: (ACGp) Mark Stewart, M Stevens Wealth Advisors, Newport Beach, CA. ISC.
  • Rs: (CEInc) Erinn M. Maguire, Miles & Stockbridge, Baltimore, MD. OSC.
  • Rs: (SWR) Michael D. Shore, Shore Law Offices, Beverly Hills, CA.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Kirwan v. Citigroup Global

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01102

Products

NP

Issue Date

2021-02-10

Situs

San Francisco

State

CA

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 is denied his request for expungement of a customer complaint after said customer opposed such relief.

Notes

None.

Arbitrators

Mary Margaret Bush, Esq.

Broker-Dealers Named

Citigroup Global Markets Incorporated

Professionals

  • Cs: (JPK) Harris Freedman, HLBS Law, Westminster, CO.
  • Rs: (CGMInc) Adam M. Kauff, Kauff Laton Miller LLP, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Abbott v. Morgan Stanley

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01974

Products

Equity

Issue Date

2021-02-09

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 appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Laurel Littman Gothelf, MPH

Broker-Dealers Named

Morgan Stanley & Company LLC

Professionals

  • Cs: (RAA) Benjamin Winograd, HLBS Law, Westminster, CO.
  • Rs: (MS&CLLC) Simon M. Levy, Keesal Young & Logan, San Francisco, CA. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Fretz v. LPL Financial

Allegation II

Reformation(U-5)

Forum

FINRA

Allegation III

Defamation

Docket No

19-03579

Products

NP

Issue Date

2021-02-09

Situs

Hartford

State

CT

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

A broker loses his request for expungement of four customer complaints from appearing on his CRD record.

Notes

None.

Arbitrators

Robert B. Titus

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: (KCF) Joseph Allgor, Herskovits PLLC, New York, NY.
  • Rs: (LPLFLLC) John Stewart, Baritz & Colman LLP, Boca Raton, FL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Shaffer v. Legg Mason

Allegation II

Forum

FINRA

Allegation III

Docket No

20-00701

Products

NP

Issue Date

2021-02-10

Situs

Washington

State

DC

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 wins her request for expungement of a customer complaint from appearing on her CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Kelli J. Jareaux, Esq.

Broker-Dealers Named

Legg Mason Wood Walker Incorporated

Professionals

  • Cs: (SSS) Dochtor Kennedy & Chelsea Masters, AdvisorLaw LLC, Westminster, CO.
  • Rs: (LMWWInc) No-show.

TypeDisp

SmallClms

Allegation I

UnauthTdg

Short Caption

Emesowum v. Charles Schwab

Allegation II

Misreprestn

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

20-01723

Products

Equity

Issue Date

2021-02-09

Situs

Washington

State

DC

Clmd Compensatory

32.1

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 customer alleging unauthorized trading with the respect to the purchase of Alpha Pro Tech stock, loses his case against Respondent broker-dealer.

Notes

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

Arbitrators

Jane C. Carney, CPA

Broker-Dealers Named

Charles Schwab & Company Incorporated

Professionals

  • Cs: Pro se.
  • Rs: (CS&CInc) Anthony L. Valenzuela, San Francisco, CA. ISC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Rizzo v. Newbridge Securities

Allegation II

Supervision

Forum

FINRA

Allegation III

Negligence

Docket No

20-02045

Products

DirectInvesmts; REITs; Equity

Issue Date

2021-02-09

Situs

Orlando

State

FL

Clmd Compensatory

90.0

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

A group of customers settle their claims against Respondent broker-dealer involving investments in REITs, master limited partnerships, and preferred stocks. A non-party broker is granted expungement of this matter from his CRD record.

Notes

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

Arbitrators

John P. Cullem, Esq.

Broker-Dealers Named

Newbridge Securities Corporation

Professionals

  • Cs: Kristian Kraszewski, Kyros Law, Miami, FL.
  • Rs: (NSCorp) Gregg J. Breitbart & Kevin Tragesser, Kaufman Dolowich & Voluck, Fort Lauderdale, FL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Tate v. Citigroup Global

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01720

Products

NP

Issue Date

2021-02-09

Situs

Chicago

State

IL

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

A registered representative loses his request for expungement of one customer complaint from appearing on his CRD record after the Director of FINRA determined that said request is not eligible for arbitration as it arises from a prior adverse award and is denied pursuant to FINRA Rule 13203(a). Said registered representative is also denied expungement of another complaint as well.

Notes

None.

Arbitrators

Lynn Hirschfeld Brahin, Esq.

Broker-Dealers Named

Citigroup Global Markets Incorporated

Professionals

  • Cs: (WDT) Robert L. Herskovits, Herskovits PLLC, New York, NY.
  • Rs: (CGMInc) Adam M. Kauff, Kauff Laton Miller LLP, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Smith v. Ameriprise Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02163

Products

VariableLifeInsurance

Issue Date

2021-02-11

Situs

Chicago

State

IL

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 customer complaint from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Steven H. Vogel, Esq.

Broker-Dealers Named

Ameriprise Financial Services LLC

Professionals

  • Cs: (SDS) Jonathan M. Sterling, Saretsky Hart et al., Birmingham, MI.
  • Rs: (AFSLLC) Howard M. Klausmeier, Troy, MI. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Mickelsen v. Ausdal Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02259

Products

NP

Issue Date

2021-02-09

Situs

Chicago

State

IL

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 denies a broker's request for expungement of a customer complaint from appearing on his CRD record after the opposition from said customer.

Notes

Panel composition issue.

Arbitrators

Lynn Hirschfeld Brahin, Esq.

Broker-Dealers Named

Ausdal Financial Partners Incorporated

Professionals

  • Cs: (KRM) David A. Genelly, D.A. Genelly Limited, Chicago, IL.
  • Rs: (AFPInc) Daniel A. Hetzel, Kaufman Dolowich & Voluck LLP, Chicago, IL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Goodland v. Cambridge Investment

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02622

Products

DirectInvesmts; RealEstate

Issue Date

2021-02-11

Situs

Minneapolis

State

MN

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 only awarded expungement of one customer complaint from his CRD record and is denied his request with respect to another complaint.

Notes

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

Arbitrators

Gregory G. Gocek

Broker-Dealers Named

Cambridge Investment Research Incorporated; Spire Securities LLC

Professionals

  • Cs: (JDG) Brian Luther, FA Expungement LLC, Denver, CO.
  • Rs: (CIRInc) Richard H. Kuhlman & Jeanette Dennis, Fairfield, IA. ISC.
  • Rs: (SSLLC) Max Schatzow, Stark & Stark, Lawrenceville, NJ. OSC.

TypeDisp

SmallClms

Allegation I

FailToObey

Short Caption

Tummala v. Robinhood Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02431

Products

Equity

Issue Date

2021-02-09

Situs

Raleigh

State

NC

Clmd Compensatory

43.7

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 customer alleging that her cancellation order regarding the purchase of Kodak stock was not processed.

Notes

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

Arbitrators

Harvey R. Linder, Esq.

Broker-Dealers Named

Robinhood Financial LLC

Professionals

  • Cs: Pro se.
  • Rs: (RFLLC) Richard J. Davis, Maynard Cooper & Gale, Birmingham, AL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Chieco v. Jeffrey Matthews Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01941

Products

CorpDebt; DirectInvesmts

Issue Date

2021-02-08

Situs

Jersey City

State

NJ

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 two customer complaints from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Marvin L. Schuldiner

Broker-Dealers Named

The Jeffrey Matthews Financial Group LLC

Professionals

  • Cs: (DAC) Richard S. Meisner, Jardim Meisner & Susser, Florham Park, NJ.
  • Rs: (TJMFGLLC) Stephen Cucchia, Florham Park, NJ. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Paglia v. Citigroup Global

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02314

Products

Equity

Issue Date

2021-02-09

Situs

Jersey City

State

NJ

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

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Annamaria Boccia-Smith, Esq. (fka Annamaria Boccia-Kovarcik, Esq.)

Broker-Dealers Named

Citigroup Global Markets Incorporated

Professionals

  • Cs: (CMP) Stephan Louviere, Louviere Law Firm, Pompano Beach, FL.
  • Rs: (CGMInc) Adam M. Kauff, Kauff Laton Miller LLP, New York, NY. OSC.

TypeDisp

SmallClms

Allegation I

Defamation

Short Caption

Epley v. Kuhn

Allegation II

Fraud

Forum

FINRA

Allegation III

Negligence

Docket No

20-02195

Products

NP

Issue Date

2021-02-10

Situs

Las Vegas

State

NV

Clmd Compensatory

40.0

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

In this unusual case, a customer and a broker alleging defamation and breach of duty of care lose their claims against Respondent registered representative. Respondent registered representative loses his Counterclaim against the broker alleging identity theft but is granted expungement of this matter from his CRD record despite the objection of Claimants.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Joseph Winter, Esq.

Broker-Dealers Named

None.

Professionals

  • Cs: Jimmy D. Epley, JD's Tax-Smart Wealth Management, Las Vegas, NV.
  • Cs: (JDE) None.
  • Rs: (PDK) Joanna M. Myers, Holley Driggs LLP, Las Vegas, NV.

TypeDisp

MemberEmployee

Allegation I

BreachContract

Short Caption

Jefferies LLC v. Schoenholtz

Allegation II

Forum

FINRA

Allegation III

Docket No

16-02122

Products

NP

Issue Date

2021-02-09

Situs

New York

State

NY

Clmd Compensatory

2250.0

Total Amt Awarded

523.6

Compensatory Awarded

100.0

Punitive Damage Awarded

Attorney Fees Awarded

325.2

* 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 claim against Respondent broker. Respondent broker is held liable for damages including attorney fees pursuant to the parties' agreement.

Notes

Big $s. Arbitrator Remarks.

Arbitrators

James M. Rhodes - Chair; Anna Lascar; Robert J. Miller

Broker-Dealers Named

Jefferies LLC

Professionals

  • Cs: (JLLC) Andrew J. Shapren & Robert J. Fitzgerald, Buchanan Ingersoll & Rooney, Philadelphia, PA. OSC.
  • Rs: (JPS) Dennis Patrick Kelleher & Noam Greenspan, Talkin Muccigrosso & Roberts LLP, New York, NY.

TypeDisp

EmployeeMember

Allegation I

Compensatn

Short Caption

Romhilt v. Barclays Capital

Allegation II

BreachContract

Forum

FINRA

Allegation III

UnjustEnrichment

Docket No

18-01288

Products

NP

Issue Date

2021-02-08

Situs

New York

State

NY

Clmd Compensatory

1300.0

Total Amt Awarded

245.0

Compensatory Awarded

245.0

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 broker is awarded compensatory damages from Respondent broker-dealer on his deferred compensation claim but loses his request for reformation of his Form U5 record.

Notes

None.

Arbitrators

Michael S. Lazan, Esq. - Chair; Ivan W. Harper, CPA; Douglas F. Stone, Esq.

Broker-Dealers Named

Barclays Capital Incorporated

Professionals

  • Cs: (DR) Barry Lax & Sandra Lahens, Lax & Neville LLP, New York, NY.
  • Rs: (BCInc) Ross E. Firsenbaum & Hallie Levin, Wilmer Cutler et al., New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Brody v. Pruco Securities LLC

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01296

Products

Insurance

Issue Date

2021-02-09

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 his request for expungement of a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Joan M. Traub, Esq.

Broker-Dealers Named

Pruco Securities LLC

Professionals

  • Cs: (ZB) Brian Kennedy, Law Office of B. Kennedy, New York, NY.
  • Rs: (PSLLC) Jennifer E. Novoselsky, Reyes Kurson Limited, Chicago, IL. OSC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Diaz v. WTS Proprietary Trading

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

20-01566

Products

NP

Issue Date

2021-02-08

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

Claimant broker is awarded reformation of defamatory information from appearing on his Form U5 record.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Khadijah B. Matin - Chair; Daniel Robbins, Esq.; Robert L. Palleschi

Broker-Dealers Named

WTS Proprietary Trading Group LLC

Professionals

  • Cs: (JD) None.
  • Rs: (WTSPTGLLC) No-show.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Mata v. JP Morgan

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

20-01644

Products

NP

Issue Date

2021-02-12

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 granted reformation of defamatory information from appearing on her Form U5 record.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Michele S. Riley

Broker-Dealers Named

JP Morgan Securities LLC

Professionals

  • Cs: (GM) Dochtor Kennedy & Chelsea Masters, AdvisorLaw LLC, Westminster, CO.
  • Rs: (JPMSLLC) Jeffrey S. Dunlap & Shipra K. Rege, Ulmer & Berne LLP, Cleveland, OH. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Jethmal v. NewBridge Securities

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01772

Products

Equity; Margin

Issue Date

2021-02-11

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 from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Veronica Ann Williams

Broker-Dealers Named

NewBridge Securities Corporation

Professionals

  • Cs: (AIJ) Tosh Grebenik, Judex Law LLC, Broomfield, CO.
  • Rs: (NBSCorp) Gregg Breitbart, Kaufman Dolowich & Voluck LLP, Fort Lauderdale, FL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Feldman v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02436

Products

ARS

Issue Date

2021-02-12

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

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

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Howard L. Sobel

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (JIF) Amy B. Bard, Law Offices of A. Bard, Glen, NJ.
  • Rs: (UBSFSInc) Omar Perez, UBS Business Solutions US LLC, Nashville, TN. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Ellowitch v. Lincoln Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01624

Products

NP

Issue Date

2021-02-12

Situs

Philadelphia

State

PA

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 complaint from appearing on his CRD record despite the objections of the customers.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

James W. (Jim) Geiger

Broker-Dealers Named

Lincoln Financial Advisors Corporation

Professionals

  • Cs: (DME) Paula D. Shaffner, Stradley Ronon et al., Philadelphia, PA.
  • Rs: (LFACorp) Michael W. Arnold, Fort Wayne, IN. ISC.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

Ameriprise Financial v. Markus

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

20-01699

Products

PromissoryNote

Issue Date

2021-02-12

Situs

Philadelphia

State

PA

Clmd Compensatory

151.8

Total Amt Awarded

165.2

Compensatory Awarded

151.8

Punitive Damage Awarded

Attorney Fees Awarded

6.2

* 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

A broker is held liable to Claimant broker-dealer for the amounts due and owing pursuant to a settlement agreement executed on behalf of a promissory note agreement.

Notes

Arbitrator Remarks.

Arbitrators

Mark H. Stein, JD - Chair; Larry Cheskawich; Edward T. Borer

Broker-Dealers Named

Ameriprise Financial Services LLC

Professionals

  • Cs: (AFSLLC) Scott A. La Porta & Ryan S. Nichols, Shumaker Loop & Kendrick LLP, Sarasota, FL. OSC.
  • Rs: (LGM) None.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

Lopez Perez v. OFS Securities

Allegation II

BreachFiducDty

Forum

FINRA

Allegation III

Supervision

Docket No

16-02549

Products

MuniSecs; MutualFunds

Issue Date

2021-02-12

Situs

San Juan

State

PR

Clmd Compensatory

15000.0

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 loses his claims against two Respondent broker-dealers involving his investment in Puerto Rican securities and closed-end bond funds. However, said customer is awarded monetary sanctions for Respondent broker-dealers various discovery violations and the spoliation of evidence throughout the course of the arbitration.

Notes

PHL -- Preliminary Injunction/Stay of Arbitration. Sanctions imposed. Rescission Requested. All-Public Panel. Arbitrator Remarks.

Arbitrators

Erika Deutsch Rotbart - Chair; John G. Sciandra; Robert Sullivan Tyler

Broker-Dealers Named

OFS Securities Incorporated; Oriental Financial Services Corporation

Professionals

  • Cs: Peter J. Mougey & Michael Bixby, Levin Papantonio et al., Pensacola, FL and John F. Nevares, J.F. Nevares & Associates Attorneys-at-Law, San Juan, PR.
  • Rs: (OFSSInc & OFSCorp) Alfredo Fernandez Martinez & Pedro Hernandez-Freire & Carlos Baralt Suarez, Delgado Fernandez LLC, San Juan, PR. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Roberts v. AXA Advisors

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01324

Products

Annuities

Issue Date

2021-02-08

Situs

Richmond

State

VA

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 wins his request for expungement of a customer complaint involving annuities from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

William F. Etherington, Esq.

Broker-Dealers Named

AXA Advisors LLC

Professionals

  • Cs: (TTR) Dochtor Kennedy & Chelsea Masters, AdvisorLaw LLC, Westminster, CO.
  • Rs: (AXAALLC) Kevin W. Brooks, AXA Equitable Life Insurance Company, Charlotte, NC. ISC.
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