* 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 account related errors occurred with respect to her investment in Palantir Technologies Inc. loses her case against Respondent broker-dealer.
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
Registered Representative dismisses his claims against Respondent broker-dealer and is granted his requests for reformation of his Form U5 record and expungement of two customer complaints from appearing on his CRD record.
Notes
Arbitrator Remarks -- Expungement and Reformation U-5 granted.
Arbitrators
Leah Murray Albert, Esq. (fka Leah A. Murray, Esq. fka Leah M. Balk-Teitelbaum, Esq. fka Leah M. Murray, Esq.) - Chair; Michele S. Riley; Stephanie Jeannette Charny
Broker-Dealers Named
UBS Financial Services Incorporated
Professionals
Cs: (JW) Christopher H. Tovar, Law Offices of C.H. Tovar PLLC, Howell, MI.
Rs: (UBSFSInc) Andrew M. Sherwood, Jackson Lewis PC, New York, NY. 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 Respondent broker-dealer did not protect his account by failing to take steps to recover the money he lost as a result of a transfer of cryptocurrency from his account loses his case.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing.
Arbitrators
Joyce A. Mitchell, Esq.
Broker-Dealers Named
Robinhood Securities LLC
Professionals
Cs: Pro se.
Rs: (RSLLC) Simeon M. Schopf, Washington, DC. 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 Panel explains in detail why it has decided to deny, sua sponte, a broker's request for expungement of two customer complaints from his CRD record after finding that both complaints were filed more than six years prior to the filing of the Statement of Claim, thus exceeding the applicable statutes of limitations under FINRA Rule 13206 (Six-year Eligibility Rule for Industry Disputes).
* 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 for the amounts due and owing on two promissory note agreements he signed as part of his employment with Claimant broker-dealer.
Notes
Arbitrator Remarks.
Arbitrators
Kathy A. Tatone, Esq.
Broker-Dealers Named
Wells Fargo Advisors Financial Network LLC
Professionals
Cs: (WFAFNLLC) Pawel Maziarz, Reed Smith LLP, Princeton, NJ. 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 Arbitrator explains why he has decided to deny a customer's claims finding he failed to prove his case for any damages resulting from the execution of the Day Order or produce any definitive or substantive evidence that Respondent broker-dealer's conduct was contrary to the rules of either NASDAQ or FINRA.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code under the Special Proceeding option. Arbitrator Remarks -- Explained Award.
* 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 unauthorized trading occurred in her IRA account with Respondent broker-dealer loses her 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
In this small claims arbitration, an Arbitrator explains why he has decided to deny an investor's case finding that Respondent broker-dealer acted as required by the federal statute regarding anti-money laundering (Patriot Act) and after said investor provided sufficient proof of identity the transfer was successful.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing. Arbitrator Remarks -- Explained Award.
Arbitrators
Walter Steven Schwartz
Broker-Dealers Named
E*Trade Securities LLC
Professionals
Cs: Pro se.
Rs: (ETSLLC) John E. Bersin, Jersey City, NJ. 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 broker alleging that a fraudulent transfer of his assets occurred as well as seeking compensation relating to his Payout Production Percentage in respect of the Carried Interest Compensation Component Respondent broker-dealer receives in connection with the Other Offering (Thoughtspot) credited to investors he placed loses his case against Respondents.
Notes
None.
Arbitrators
Eva H. Posman, Esq. - Chair; William A. Rome, JD; Adam M. Kauff
Broker-Dealers Named
SW Financial
Professionals
Cs: (WKB) Robert M. Bursky, R.M. Bursky Esquire, Melville, NY.
Rs: (SWFinl, TD & LZ) Charles M. O'Rourke, Attorney-at-Law, Woodbury, NY. 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 his CRD record despite the objection of said customer.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Ronald Harris Kisner - Chair; Kirtley M. Thiesmeyer, Esq.; Mary E. Bassett
Broker-Dealers Named
AGP / Alliance Global Partners
Professionals
Cs: (HK) Gregg J. Breitbart & Zachary Hayes-Macaluso, Kaufman Dolowich LLP, Fort Lauderdale, FL.
Rs: (AGP/AGPtnrs) John Venezia, Chief Compliance Officer, Westport, CT. 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
After settling his case against Respondent, Claimant broker is granted his request for reformation of his Form U5 record. In awarding reformation/expungement, the Arbitrator found that the language contained in the Reason for Termination Section was inaccurate and creates an issue as to the cause of termination, thus making the Form U5 damaging and defamatory in nature.
Notes
Arbitrator Remarks -- Reformation U-5 granted.
Arbitrators
A. Rene Hollyer, Sr.
Broker-Dealers Named
JP Morgan Securities LLC
Professionals
Cs: (AS) Joseph Allgor, Herskovits PLLC, New York, NY.
* 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 held liable to Claimant broker-dealer on its breach of contract claim. Said registered representative loses his Counterclaim for gross negligence.
Notes
Please Note* This matter proceeded pursuant to Rule 13800 of the Code. Cs did not request a hearing.
Arbitrators
John Michael Bergin
Broker-Dealers Named
Hold Brothers Capital LLC
Professionals
Cs: (HBCLLC) Michael H. Ference, Sichenzia Ross et al., New York, NY. 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 Arbitrator grants Respondent broker-dealer's Pre-Hearing Motion to Dismiss Claimant's request for reformation of her Form U5 record pursuant to FINRA Rule 13206(a) (Six-year Eligibility Rule for Industry Disputes) as the event giving rise to the disclosure occurred in 2006, well beyond the six-year time limit.
Notes
Pre-Hearing Adjudication -- Full Dismissal. Arbitrator Remarks -- Explained Award.
Arbitrators
Tracy L. Allen, Esq.
Broker-Dealers Named
Fidelity Brokerage Services LLC
Professionals
Cs: (RLO) David S. Harrison, Bakhtiari & Harrison, Studio City, CA.
Rs: (FBSLLC) David I. Hantman, Bressler Amery & Ross, New York, NY. 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 non-appearing broker is held liable to Claimant for the amounts due and owing on a promissory note agreement.
Notes
Big $s. Arbitrator Remarks.
Arbitrators
Gregory Hunter Mathews
Broker-Dealers Named
Wells Fargo Clearing Services LLC
Professionals
Cs: (WFCSLLC) Keith J. Barnett & Noah J. Mason, Troutman Pepper Locke LLP, Atlanta, GA. OSC and Seth M. Erickson, Troutman Pepper Locke LLP, Chicago, IL. OSC.
Rs: (EAK) None.
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