* 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 his request for expungement of a customer complaint from his CRD record by unanimous decision of the Panel despite the objection of the authorized representative of the state securities regulator for California.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Darryl C. Wilson, Esq. - Chair; Sandra J. Mullings, Esq.; Philip Aaron Tymon, JD
* 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 grants Respondent broker-dealer's Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 13206 (Six-year Eligibility Rule for Industry Disputes) after finding that the claims giving rise to this case, as well as the filing of the registered representative's Form U5 record, took place in December 2012, thus making them ineligible for arbitration.
Notes
Pre-Hearing Adjudication -- Full Dismissal. Arbitrator Remarks.
Arbitrators
Jeffrey L. Malek, Esq. - Chair; Thomas C. Watts, III; Craig R. Bockman
Broker-Dealers Named
SunAmerica Capital Services Inc. now operating as Corebridge Capital Services Incorporated
Professionals
Cs: (JMC) Tosh Grebenik, Judex Law LLC, Broomfield, CO.
Rs: (SACSInc) Matthew I. Penfield, Maynard Nexsen PC, Birmingham, AL. OSC.
* 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 based on representations that were made by Respondent broker-dealer he invested in a private fund managed by Forge Global Advisors called FUND FG-SHE loses his case.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing. Rescission Requested.
* 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 two customer complaints from appearing on his CRD record, with prejudice, by unanimous decision of the Panel and after a contested hearing on the expungement by one named Respondent broker-dealer.
Notes
None.
Arbitrators
Michael J. Meeusen, Esq. - Chair; Thomas J. Ray, Esq.; Daniel B. MacLeod, Esq.
Broker-Dealers Named
Northwestern Mutual Investment Services LLC; Edward Jones
* 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 due to inaccurate and misleading market data contained on Respondent broker-dealer's Active Trader Pro desktop platform, he placed a limit sell order on his investment in Envirotech Vehicles Inc., to his detriment, loses his case.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code under the Special Proceeding option. Rescission Requested.
Arbitrators
Michael J. Ahlstrom, Esq.
Broker-Dealers Named
Fidelity Brokerage Services LLC
Professionals
Cs: Pro se.
Rs: (FBSLLC) Sara B. Davis, FMR LLC Legal Department, Boston, MA. ISC.
* 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 that he experienced severe financial and emotional harm due to unauthorized transactions that took place in this account with Respondent broker-dealer is awarded compensatory damages.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code under the Special Proceeding option.
Arbitrators
Linda J. Baer, Esq.
Broker-Dealers Named
Robinhood Financial LLC
Professionals
Cs: Pro se.
Rs: (RFLLC) Lawton R. Graves & Dan Cardenas, Murphy & Anderson, Jacksonville, FL. OSC.
* 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 grants Claimant broker's request for expungement of a customer complaint from appearing on his CRD record finding said complaint to be factually impossible and false under FINRA Rule 2080.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Judith C. Zerden, Esq. - Chair; Monica I. Salis, Esq.; Thomas Benjamin Salzer, Esq.
Broker-Dealers Named
Merrill Lynch Pierce Fenner & Smith Incorporated
Professionals
Cs: (DA) N. Nancy Ghabai, Ghabai Law Group LLC, Boston, MA.
* 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 Rep is awarded expungement of a customer complaint from appearing on his CRD record after the Panel found he was not involved with the alleged investment-related sales practice violation under FINRA Rule 2080 and despite the objection of the authorized representative of the state securities regulator for Indiana.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Richard J. Lawrence, Esq. - Chair; Steven H. Vogel, Esq.; Kenneth R. Starr, Esq.
Broker-Dealers Named
Sanctuary Securities Incorporated fka David A Noyes & Company
Professionals
Cs: (STW) Patrick A. Watts & Andrew Feldman, Martin Golden et al., St. Louis, MO.
Rs: (SSInc) Kevin J. Miller & Christopher Stake, Miami, FL. ISC.
* 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 two customer complaints from his CRD record by unanimous decision of the Panel. The customer's complaints involved the purchase of real estate investment trusts.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Peter A. Goldman, Esq. - Chair; Thomas Benjamin Salzer, Esq.; Denise L. Quarles, Esq.
Broker-Dealers Named
LPL Financial LLC
Professionals
Cs: (MGB) Jennifer Cox, HLBS Law, Broomfield, CO.
Rs: (LPLFLLC) Michael T. West, San Diego, CA. ISC.
* 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 a drop in the value of his investment account occurred as a result of an accounting error and that he was overcharged for his investment in Nvidia Corporation options loses his case.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing.
* 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
After settling all his claims in this matter, a Panel grants Claimant broker's remaining request for expungement of a customer complaint from appearing on his CRD record.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Karimu F. Hill-Harvey, Esq. - Chair; Michael J. Ahlstrom, Esq.; Keely D. Parr, Esq.
Broker-Dealers Named
NYLife Securities LLC
Professionals
Cs: (MEC) John A. Hubbard & Zane M. Thompson, Hubbard Snitchler & Parzianello, Plymouth, MI.
Rs: (NYLSLLC) Remy D. Snead, Paul Hastings LLP, Chicago, IL. OSC and Alexander J. Thibodeau, Warner Norcross + Judd LLP, Grand Rapids, MI. OSC.
* 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 registered representative's request for expungement of a customer complaint from appearing on his CRD record after finding said complaint to be factually impossible, clearly erroneous, and false.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
James W. Kerr, Jr. - Chair; Herb Schwartz; Darryl C. Wilson, Esq.
Broker-Dealers Named
Edward Jones
Professionals
Cs: (AMQ) David I. Hantman, Bressler Amery & Ross, New York, NY.
Rs: (EDJ&CLP) Jonathan W. Hackbarth, Quarles & Brady LLP, Milwaukee, WI. OSC.
* 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 Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 12206 of the Code (Six-year Eligibility Rule) after finding that the event or occurrence giving rise to the case took place nearly ten (10) years prior to the filing of the Statement of Claim and is therefore ineligible for arbitration.
* 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 records with prejudice by unanimous decision of the Panel and after the objection of said customer involved.
Notes
None.
Arbitrators
Edward R. Niederriter, Esq. - Chair; John R. Wylie, Esq.; Ian S. Greig
Broker-Dealers Named
UBS Financial Services Incorporated
Professionals
Cs: (JWR) Anthony J. Borrelli, Riker Danzig LLP, Madison, NJ.
Rs: (UBSFSInc) Melissa J. Gworek, Nashville, TN. ISC.
* 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
Despite denying Respondent broker-dealer's Pre-Hearing Motion to Dismiss, a Panel unanimously denies, with prejudice, a registered representative's requests for expungement of a customer complaint from appearing on his CRD record and for reformation of the Reason for Termination from his Form U5 record.
Notes
None.
Arbitrators
Jay H. Feldstein, Esq. - Chair; Martin A. Feigenbaum, Esq.; Peter Shapiro
Broker-Dealers Named
Equitable Advisors LLC
Professionals
Cs: (WBG) None.
Rs: (EALLC) Joel M. Everest, Bressler Amery & Ross, Birmingham, AL. OSC.
* 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 provides factual background and awards Claimant broker his request for expungement of a customer complaint from his CRD record after unanimously finding said complaint to be factually impossible and false under FINRA Rule 2080.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Patrick R. Sughroue, Esq. - Chair; Ira A. Auerbach; Ronald Harris Kisner
Broker-Dealers Named
UBS Financial Services Incorporated
Professionals
Cs: (JWR) David I. Hantman, Bressler Amery & Ross, New York, NY.
Rs: (UBSFSInc) Omar Perez, UBS Business Solutions US LLC, Nashville, TN. ISC.
* 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 investor alleging that Respondent broker-dealer failed to act in his best interest when it recommended the securities purchases for his account and committed fraud with respect to his account loses his case.
Notes
Rescission Requested. Regulation Best Interest.
Arbitrators
George J. Karlsven, Jr.
Broker-Dealers Named
E*Trade Securities LLC
Professionals
Cs: Pro se.
Rs: (ETSLLC) John Bersin, E*TRADE from Morgan Stanley, Roseville, CA. ISC.
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