UPDATE : ARBchek

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

New Award Briefs

Report Dated: 2021-06-23

2021-21

Primary Sort

Secondary Sort

Dispute Information

Damages*

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Moore v. Prudential Equity

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02679

Products

NP

Issue Date

2021-06-11

Situs

Birmingham

State

AL

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

Notes

Arbitrator Remarks -- Expungement granted.

People & Entities

Arbitrators

Frances Johnson-Wright, Esq.

Broker-Dealers Named

Prudential Equity Group LLC

Professionals

  • Cs: (SCM) Chelsea Masters & Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (PEGLLC) Jennifer E. Novoselsky, Reyes Kurson Limited, Chicago, IL. OSC.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

Bernstein v. Berthel Fisher

Allegation II

Supervision

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

20-01898

Products

DirectInvesmts; REITs

Issue Date

2021-06-10

Situs

Phoenix

State

AZ

Clmd Compensatory

100.0

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 All-Public Panel explains why it has decided to grant the remaining Respondent broker-dealer's Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 12206 (Six-year Eligibility Rule). The customers' claims involved investments in real estate investment trusts and other alternative investments.

Notes

Pre-Hearing Adjudication -- Full Dismissal. All-Public Panel. Arbitrator Remarks -- Explained Award.

Arbitrators

Marc Kalish, JD - Chair; William Borden Morgan; Garnett Sailor

Broker-Dealers Named

Berthel Fisher & Company Financial Services Incorporated; Independent Financial Group LLC

Professionals

  • Cs: Gregory Tendrich, Dickenson Murphy et al., Austin, TX.
  • Rs: (BF&CFSInc) Peter J. McElligott, Anthony Ostlund et al., Minneapolis, MN. OSC.
  • Rs: (IFGLLC) Edward Zusman, Markun Zusman et al., San Francisco, CA. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Chung v. JP Morgan

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02719

Products

CorpDebt

Issue Date

2021-06-07

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 granted expungement of a customer complaint from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Morris S. Getzels, Esq.

Broker-Dealers Named

JP Morgan Securities LLC

Professionals

  • Cs: (MHC) Erika Binnix, HLBS Law, Westminster, CO.
  • Rs: (JPMSLLC) Samantha D. Parrish, Keesal Young & Logan, Long Beach, CA. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Finnigan v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

20-03059

Products

Derivatives; ARS

Issue Date

2021-06-04

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

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

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Kirtley M. Thiesmeyer, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (BAF) Chelsea Masters, HLBS Law, Westminster, CO.
  • Rs: (UBSFSInc) John Murphy, J. Murphy & Associates PC, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Stevenson v. Pacific West

Allegation II

Forum

FINRA

Allegation III

Docket No

20-03128

Products

NP

Issue Date

2021-06-03

Situs

San Francisco

State

CA

Clmd Compensatory

0.1

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 one customer complaint from her CRD record but is denied her request for expungement of a second.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Kevin C. Coleman, JD

Broker-Dealers Named

Pacific West Securities Incorporated

Professionals

  • Cs: (DMS) David Monsour, Barr & Young, Danville, CA.
  • Rs: (PWSInc) No-show.

TypeDisp

SmallClms

Allegation I

Suitability

Short Caption

de Champeaux v. Fidelity Brokerage

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Negligence

Docket No

20-03697

Products

*

Issue Date

2021-06-02

Situs

San Francisco

State

CA

Clmd Compensatory

18.1

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 unsuitability and negligence, among other things, loses his case against Respondent broker-dealer.

Notes

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

Arbitrators

Arocles Aguilar

Broker-Dealers Named

Fidelity Brokerage Services LLC

Professionals

  • Cs: Pro se.
  • Rs: (FBSLLC) Patrick S. Christensen, FMR LLC, Durham, NC. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Smith v. Edward Jones

Allegation II

Forum

FINRA

Allegation III

Docket No

20-03121

Products

DirectInvesmts; RealEstate

Issue Date

2021-06-10

Situs

Hartford

State

CT

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 her CRD record.

Notes

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

Arbitrators

Steven R. Rolnick, Esq.

Broker-Dealers Named

Edward Jones; Investors Capital Corporation

Professionals

  • Cs: (MOS) Brian Luther, FA Expungement LLC, Denver, CO.
  • Rs: (EDJ&CLP) Jonathan W. Hackbarth, Quarles & Brady LLP, Milwaukee, WI. OSC.
  • Rs: (ICCorp) No-show.

TypeDisp

MemberEmployee

Allegation I

Raiding

Short Caption

Private Capital Management v. Folz

Allegation II

TakingRecords

Forum

FINRA

Allegation III

Defamation

Docket No

20-02583

Products

NP

Issue Date

2021-06-11

Situs

Boca Raton

State

FL

Clmd Compensatory

0.0

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

In this raiding case, a Panel granted Respondent broker's Pre-Hearing Motion to Dismiss without prejudice pursuant to FINRA Rule 13504 as FINRA was not referenced as an alternative dispute resolution option according to the Partnership Agreement issued by Private Capital Management Holdings. The Panel ruled that said claims against Respondent broker should be litigated in their entirety in the AAA forum.

Notes

Pre-Hearing Adjudication -- Full Dismissal. Raiding case. Arbitrator Remarks -- Explained Award.

Arbitrators

Erika Deutsch Rotbart - Chair; Nofrey Matthew Fornaro, III; Montie J. Labadie

Broker-Dealers Named

Private Capital Management LLC; Carnes Capital Corporation; Private Capital Management Holdings Limited Partnership

Professionals

  • Cs: (PCMLLC, CCCorp & PCMHLP) Victor Bayata, Vernon Litigation Group, Naples, FL. OSC.
  • Rs: (JPF) Casey K. Weidenmiller, Woods Weidenmiller et al., Naples, FL.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Klump v. Fifth Third

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02723

Products

ETFs

Issue Date

2021-06-09

Situs

Boca Raton

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

Registered rep is granted his request for expungement of a customer complaint involving the purchase of ETFs from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Carl Shechter, Esq.

Broker-Dealers Named

Fifth Third Securities Incorporated

Professionals

  • Cs: (JCK) Harris Freedman, HLBS Law, Westminster, CO.
  • Rs: (FTSInc) R. Samuel Gilley, Dinsmore & Shohl LLP, Cincinnati, OH. OSC.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

Morgan Stanley v. Hagan

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

21-00583

Products

PromissoryNote

Issue Date

2021-06-10

Situs

Tampa

State

FL

Clmd Compensatory

577.6

Total Amt Awarded

600.0

Compensatory Awarded

577.6

Punitive Damage Awarded

Attorney Fees Awarded

6.3

* 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

A non-appearing broker is held liable to Claimant broker-dealer for $600,000 in damages representing the amounts due and owing on four promissory note agreements along with interest and attorney fees.

Notes

Big $s. Arbitrator Remarks.

Arbitrators

Kenneth R. Starr, Esq.

Broker-Dealers Named

Morgan Stanley Smith Barney LLC; Morgan Stanley Smith Barney Financing LLC

Professionals

  • Cs: (MSSBLLC & MSSBFLLC) Elio F. Martinez Jr., GrayRobinson PA, Miami, FL. OSC.
  • Rs: (TJH) No-show.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Middleton v. MSI Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02705

Products

VariableLifeInsurance

Issue Date

2021-06-07

Situs

Atlanta

State

GA

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

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Harvey R. Linder, Esq.

Broker-Dealers Named

MSI Financial Services Incorporated

Professionals

  • Cs: (PJM) Michael O'Gara & Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (MSIFSInc) Martin Harris, Harris & Affiliates Limited, Chicago, IL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Vanderver v. Oppenheimer & Company

Allegation II

Forum

FINRA

Allegation III

Docket No

20-03007

Products

PrivSecTrans

Issue Date

2021-06-04

Situs

Atlanta

State

GA

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 voluntarily withdraws with prejudice his request for expungement of one customer complaint after the objection of said customer but is granted his request for expungement of a second complaint.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Michael J. Ahlstrom, Esq.

Broker-Dealers Named

Oppenheimer & Company Incorporated

Professionals

  • Cs: (TAV) Frances Menzer & Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (O&CInc) Nicola Anne Murphy, New York, NY. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Sard v. Purshe Kaplan Sterling

Allegation II

Forum

FINRA

Allegation III

Docket No

20-03958

Products

MutualFunds

Issue Date

2021-06-01

Situs

Atlanta

State

GA

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 awarded Claimant broker expungement of a customer complaint involving the purchase of a mutual fund from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Michael J. Ahlstrom, Esq. - Chair; Judith Stilz Ogden, Esq.; Brian Francis Pocock

Broker-Dealers Named

Purshe Kaplan Sterling Investments

Professionals

  • Cs: (JS) James P. Galvin, Galvin Legal PLLC, Decatur, GA.
  • Rs: (PKSInvmts) David M. Purcell & James Baehr, PKS Holdings LLC, Albany, NY. ISC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Kaplan v. Next Financial

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

19-03332

Products

Insurance

Issue Date

2021-06-08

Situs

Boston

State

MA

Clmd Compensatory

215.0

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 settles his claims against Respondent broker-dealer and registered representative involving the purchase of an Ohio National Whole Life Policy. Registered representative is granted his request for expungement of this matter from his CRD record.

Notes

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

Arbitrators

John Francis Markuns - Chair; Paula M. Bagger; Gail Sillman

Broker-Dealers Named

Next Financial Group Incorporated

Professionals

  • Cs: Kyle M. Kulzer, Alan L. Frank Law Associates PC, Jenkintown, PA.
  • Rs: (NFGInc & SD) Steven N. Fuller, Markun Zusman et al., Wellesley, MA. OSC.

TypeDisp

MemberEmployee

Allegation I

Misreprestn

Short Caption

Purshe Kaplan Sterling v. Vungarala

Allegation II

Indemnification

Forum

FINRA

Allegation III

BreachContract

Docket No

19-03153

Products

NP

Issue Date

2021-06-08

Situs

Detroit

State

MI

Clmd Compensatory

20867.9

Total Amt Awarded

20867.9

Compensatory Awarded

20867.9

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

Claimant broker-dealer is awarded nearly $21 million in compensatory damages on behalf of itself and as Assignee for the Saginaw Chippewa Indian Tribe of Michigan from a non-appearing registered representative relating to money paid as part of an arbitration settlement and pursuant to the terms of an Independent Contractor Agreement and Security Sales Agreement.

Notes

Big $s. Rs Trevor S. Sutterfield was not assessed any portion of the awarded amount. Rs Gopi K. Vungarala was assessed. Rule 13801 Default Judgment. Panel composition issue. Arbitrator Remarks.

Arbitrators

Jeffry Mark Bauer, Esq.

Broker-Dealers Named

Purshe Kaplan Sterling Investments Incorporated

Professionals

  • Cs: (PKSIInc) Lewis S. Fischbein, L.S. Fischbein PC, Riverdale, NY. OSC and Devin W. Bone, Paesano Akkashian Apkarian PC, Bloomfield Hills, MI. OSC.
  • Rs: (GKV & TSS) No-show.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Calamita v. RBC Capital

Allegation II

Forum

FINRA

Allegation III

Docket No

20-03989

Products

ARS

Issue Date

2021-06-10

Situs

Charlotte

State

NC

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 awards a broker expungement of a customer complaint from his CRD record involving the purchase of Auction Rate Securities.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Michael J. Ahlstrom, Esq.

Broker-Dealers Named

RBC Capital Markets LLC

Professionals

  • Cs: (TDC) Erica Binnix & Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (RBCCMLLC) Tiana M. Towns & James Langdon, Dorsey & Whitney, Minneapolis, MN. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Chu v. American Portfolios

Allegation II

Forum

FINRA

Allegation III

Docket No

20-03180

Products

VariableAnnuities; Annuities

Issue Date

2021-06-03

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

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

Notes

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

Arbitrators

Robert E. Anderson, Esq.

Broker-Dealers Named

American Portfolios Financial Services Incorporated

Professionals

  • Cs: (CC) Robert Moses, RJM Counsel PLLC, New York, NY.
  • Rs: (APFSInc) No-show.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Moran v. Cetera Advisor

Allegation II

Forum

FINRA

Allegation III

Docket No

20-03061

Products

REITs

Issue Date

2021-06-07

Situs

Reno

State

NV

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 a broker's request for expungement of a customer complaint from appearing on her CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Michael Lancaster Garcia

Broker-Dealers Named

Cetera Advisor Networks LLC

Professionals

  • Cs: (JM) Christina Z. Vourakis, Winget Spadafora & Schwartzberg LLP, Los Angeles, CA.
  • Rs: (CANLLC) David Feldstein, Cetera Financial Group, New York, NY. ISC.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

Gorsline v. Next Financial

Allegation II

BreachContract

Forum

FINRA

Allegation III

Negligence

Docket No

19-02215

Products

REITs; MutualFunds; VariableAnnuities

Issue Date

2021-06-02

Situs

Buffalo

State

NY

Clmd Compensatory

600.0

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

Two customers voluntarily withdraw their claims against Respondent broker-dealer and broker involving investments in variable annuities and REITs, among other investments. Respondent broker loses her request for expungement of this matter from her CRD record.

Notes

All-Public Panel.

Arbitrators

Barry Goldman, Esq. - Chair; Gerald W. Hepp; Joseph Maron Hanna

Broker-Dealers Named

Next Financial Group Incorporated

Professionals

  • Cs: Bradford M. Gucciardo, Gucciardo Law Group PA, Lakewood Ranch, FL.
  • Rs: (NFGInc & SLK) John Hitchings, Sichenzia Ross Ference LLP, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Schneider v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

19-02407

Products

Equity; CorpDebt; Options

Issue Date

2021-06-09

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

Claimant broker is awarded expungement of three customer complaints from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Clive I. Morrick

Broker-Dealers Named

UBS Financial Services Incorporated; CIBC World Markets Corporation

Professionals

  • Cs: (JS) Tosh Grebenik, Judex Law LLC, Broomfield, CO.
  • Rs: (UBSFSInc) Omar Perez, UBS Business Solutions US LLC, Nashville, TN. ISC.
  • Rs: (CIBCWMCorp) Elizabeth R. Aylett, New York, NY. ISC.

TypeDisp

SmallClms

Allegation I

Suitability

Short Caption

Lilien v. Morgan Stanley

Allegation II

BreachContract

Forum

FINRA

Allegation III

Supervision

Docket No

19-02691

Products

Equity; CorpDebt

Issue Date

2021-06-03

Situs

New York

State

NY

Clmd Compensatory

50.0

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

In this small claims arbitration, a customer settles her case against Respondent broker-dealer and broker involving the purchase of stocks and bonds. Respondent broker is granted her request for expungement despite the objection of said customer.

Notes

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

Arbitrators

Julian F. Santos, Esq.

Broker-Dealers Named

Morgan Stanley

Professionals

  • Cs: Elizabeth Goldman, Benjamin N. Cardozo School of Law Securities Arbitration Clinic, New York, NY.
  • Rs: (MSSBLLC & NDG) Andrew Gelfand, New York, NY. ISC.

TypeDisp

EmployeeMember

Allegation I

TortiousInterference

Short Caption

Baltas v. Worden Capital

Allegation II

BreachContract

Forum

FINRA

Allegation III

UnjustEnrichment

Docket No

20-01635

Products

NP

Issue Date

2021-06-07

Situs

New York

State

NY

Clmd Compensatory

5490.0

Total Amt Awarded

270.0

Compensatory Awarded

270.0

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

Respondent broker-dealer and registered representative are held jointly liable to three brokers for compensatory damages on their breach of contract claim.

Notes

None.

Arbitrators

Robert J. Kheel, Esq. - Chair; Harvey Barrison, Esq.; Jerome Bernard McDevitt

Broker-Dealers Named

Worden Capital Management LLC

Professionals

  • Cs: (CB, MC & VM) Liam O'Brien, McCormick & O'Brien LLP, New York, NY.
  • Rs: (WCMLLC & JW) William M. Dailey, Dailey Law Group, Rye, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Burkoff v. Joseph Gunnar

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02549

Products

NP

Issue Date

2021-06-11

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

Notes

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

Arbitrators

Roger B. Jacobs

Broker-Dealers Named

Joseph Gunnar & Company LLC; National Securities Corporation

Professionals

  • Cs: (MJB) Tosh Grebenik, Judex Law LLC, Broomfield, CO.
  • Rs: (JG&CLLC) Peter Bon Viso, New York, NY. ISC.
  • Rs: (NSCorp) Emily A. Hayes, New York, NY. ISC.

TypeDisp

MemberEmployee

Allegation I

BreachContract

Short Caption

Jefferies LLC v. Wong

Allegation II

Forum

FINRA

Allegation III

Docket No

20-03987

Products

NP

Issue Date

2021-06-08

Situs

New York

State

NY

Clmd Compensatory

33.3

Total Amt Awarded

49.4

Compensatory Awarded

33.3

Punitive Damage Awarded

Attorney Fees Awarded

15.1

* 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 pursuant to an employment contract.

Notes

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

Arbitrators

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

Broker-Dealers Named

Jefferies LLC

Professionals

  • Cs: (JLLC) Andrew Shapren & Scott Oberlander, Buchanan Ingersoll & Rooney, Philadelphia, PA. OSC.
  • Rs: (RTW) No-show.

TypeDisp

SmallClms

Allegation I

UnauthTdg

Short Caption

Felice v. TD Ameritrade

Allegation II

Operations

Forum

FINRA

Allegation III

Docket No

21-00368

Products

Equity

Issue Date

2021-05-28

Situs

Columbus

State

OH

Clmd Compensatory

30.0

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 customer alleging that Respondent broker-dealer sold a significant number of shares in Jenex Corporation stock to cover a fee associated with his account loses his case.

Notes

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

Arbitrators

Robert J. Scafuri, Esq.

Broker-Dealers Named

TD Ameritrade Incorporated

Professionals

  • Cs: Pro se.
  • Rs: (TDAInc) Amanda Helm Wright, Omaha, NE. ISC.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

Raymond James v. Clark

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

21-00541

Products

PromissoryNote

Issue Date

2021-06-03

Situs

Oklahoma City

State

OK

Clmd Compensatory

103.1

Total Amt Awarded

103.1

Compensatory Awarded

103.1

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

Notes

None.

Arbitrators

Michael S. Yauch

Broker-Dealers Named

Raymond James & Associates Incorporated

Professionals

  • Cs: (RJ&AInc) George L. Guerra & Robert K. Jamieson, Guerra King PA, Tampa, FL. OSC.
  • Rs: (JC) No-show.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Boaz v. LPL Financial

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

20-02927

Products

NP

Issue Date

2021-06-03

Situs

Dallas

State

TX

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 reformation of defamatory information from appearing on his Form U5 record.

Notes

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

Arbitrators

David A. Schuler

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: (RDB) Zachary Hayes-Macaluso, FA Expungement LLC, Denver, CO.
  • Rs: (LPLFLLC) Jon D. Kaplon, Boston, MA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Davis v. Chase Investment

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02935

Products

Annuities

Issue Date

2021-06-08

Situs

Houston

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

A registered representative is awarded his request for expungement of two customer complaints from his CRD record despite the objection of one customer.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Sherry R. Wetsch, Esq.

Broker-Dealers Named

Chase Investment Services Corporation

Professionals

  • Cs: (DDD) Benjamin Winograd & Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (CISCorp) Jeffrey S. Dunlap & Trevor J. Hardy, Ulmer & Berne LLP, Cleveland, OH. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Fox v. First Allied

Allegation II

Forum

FINRA

Allegation III

Docket No

20-03184

Products

Insurance

Issue Date

2021-06-03

Situs

Houston

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 granted Claimant broker's request for expungement of two customer complaints from his CRD record.

Notes

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

Arbitrators

Sherry R. Wetsch, Esq.

Broker-Dealers Named

First Allied Securities Incorporated

Professionals

  • Cs: (WFF) Robert J. Moses, RJM Counsel PLLC, New York, NY.
  • Rs: (FASInc) Jeremy Wooden, Cetera Financial Group, El Segundo, CA. ISC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Moody v. Morgan Stanley

Allegation II

Negligence

Forum

FINRA

Allegation III

Docket No

20-04054

Products

NP

Issue Date

2021-06-03

Situs

Houston

State

TX

Clmd Compensatory

100.0

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 customer alleging the mismanagement of her two accounts agrees to voluntarily dismiss her claims with prejudice against Respondent broker-dealer. Non-Party broker is granted expungement of this matter from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

G. Maynard Green, JD

Broker-Dealers Named

Morgan Stanley

Professionals

  • Cs: John S. Moody, Attorney-at-Law, Houston, TX.
  • Rs: (MSSBLLC) Joseph L. Calabrese, Bressler Amery & Ross, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Schinsky v. Ameriprise Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02921

Products

NP

Issue Date

2021-06-04

Situs

Richmond

State

VA

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 a customer complaint from appearing on his CRD record after the objection of said customer.

Notes

None.

Arbitrators

Joseph J. Dougherty, JD

Broker-Dealers Named

Ameriprise Financial Services LLC

Professionals

  • Cs: (RES) Zachary Morse & Frances Menzer & Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (AFSLLC) Howard M. Klausmeier, Vice President, Troy, MI. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Williams v. Voya Financial

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

20-02502

Products

NP

Issue Date

2021-06-01

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

An Arbitrator explains why he has decided to grant Claimant broker's request for reformation of defamatory information appearing on her Form U5 record.

Notes

Arbitrator Remarks -- Reformation U-5 granted. Explained Award.

Arbitrators

Craig Charles Beles, Esq.

Broker-Dealers Named

Voya Financial Advisors Incorporated

Professionals

  • Cs: (MSW) Dochtor Kennedy & Benjamin Winograd & Jared Harris, AdvisorLaw LLC, Westminster, CO.
  • Rs: (VFAInc) Christina Z. Vourakis, Winget Spadafora & Schwartzberg LLP, Los Angeles, CA. OSC.
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