* 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 claims and monetary request for damages, a broker is granted his request for reformation of defamatory information from appearing on his Form U5 record.
* 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 investor alleging that Respondent broker-dealer failed to deliver ninety-one shares of The Walt Disney Company stock into his account loses his case.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing. Rescission Requested.
Arbitrators
Keely D. Parr, Esq.
Broker-Dealers Named
Wells Fargo Advisors Financial Network LLC
Professionals
Cs: Pro se.
Rs: (WFAFNLLC) Valerie Holder, Troutman Pepper Locke LLP, San Francisco, CA. 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
Despite awarding the Claimant expungement of two customer complaints from appearing on his CRD record, the Panel found that the facts of the underlying matters were not supported by the broker's testimony; however the information provided regarding the settlement of one customer complaint was sufficient enough to award expungement in this matter.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Stephanie E. Simmons - Chair; Steven N. Ainbinder, Esq.; Richard E. Lauziere, CPA
Broker-Dealers Named
TIAA-CREF Individual & Institutional Services LLC
Professionals
Cs: (RBL) Brian R. Luther, FA Expungement Services LLC, Denver, CO.
Rs: (TIAA-CREFI&ISLLC) Christopher C. Coss, Coss & Momjian, Bala Cynwyd, PA. 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 a broker's request for 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
Susan L. Walker, Esq. - Chair; Madelon M. Rosenfeld, Esq.; William J. Bender, Esq.
Broker-Dealers Named
Wells Fargo Advisors Financial Network LLC
Professionals
Cs: (TMM) Jonathan B. Butler, Butler Law Group, Jupiter, FL.
Rs: (WFAFNLLC) Kirsten M. Nowak, Bressler Amery & Ross, Fort Lauderdale, 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
In this small claims arbitration, an Arbitrator explains in detail why he has decided to award the Claimant damages stemming from the failure of Respondent broker-dealer to timely convert 50,000 shares of GXU stock to 12,670 shares of AEU stock.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing. Arbitrator Remarks -- Explained Award.
Arbitrators
Ronald Stephen Robins
Broker-Dealers Named
Interactive Brokers LLC
Professionals
Cs: Pro se.
Rs: (IBLLC) Vincent P. Iannece, Greenwich, 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
Two registered representatives are each awarded expungement of a customer complaint from appearing on their CRD records despite the objections of the customers involved and after the Panel found the request met all three criteria under FINRA Rule 2080(A)(B) and (C).
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Paul Allan Massaro - Chair; Madelon M. Rosenfeld, Esq.; Jane C. Carney, CPA
Broker-Dealers Named
RBC Capital Markets LLC
Professionals
Cs: (DFM & JAM) Frank Cuccio, Bressler Amery & Ross, Florham Park, NJ.
Rs: (RBCCMLLC) Michael E. Rowe & Scott Mah, Dorsey & Whitney, Minneapolis, MN. 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 broker loses, with prejudice, his request for expungement of a customer complaint from appearing on his CRD record by unanimous decision of the Panel and after the objections of the customer involved and the authorized representative of the state securities regulator for Kansas.
Notes
None.
Arbitrators
David G. Skeen, Esq. - Chair; Katherine Hendricks, Esq.; Douglas Earl McLaren, Esq.
* 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 a broker expungement of a customer complaint from her CRD record after finding said complaint to be factually impossible, clearly erroneous, and false under FINRA Rule 2080.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Ashley Lucile Belleau, Esq. - Chair; Herbert Liberman; David I. Levine, Esq.
Broker-Dealers Named
Vanguard Marketing Corporation
Professionals
Cs: (NV) Michael Bessette, HLBS Law, Broomfield, CO.
* 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 wrongful termination case after the Panel granted Respondent broker-dealer's Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 13504(6)(A) after finding that said broker had already released his claims in dispute by signing a settlement agreement (aka Corporate Severance Program Agreement), thus releasing Respondent of any liability in this matter. The Panel also denies Respondent broker-dealer's breach of contract Counterclaim with prejudice.
Notes
Pre-Hearing Adjudication -- Full Dismissal. Arbitrator Remarks.
Arbitrators
Alice E. Winkler, Esq. - Chair; Arthur S. Joseph, Esq.; Marleen H. Levi
Broker-Dealers Named
BOFA Securities Incorporated
Professionals
Cs: (VMK) None.
Rs: (BOFASInc) Carole G. Miller & Leo Kogan, 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 he was a victim of fraud after his investment in cryptocurrency was liquidated and transferred by a unnamed third-party without his permission 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
Arthur Neil Tolciss, Esq.
Broker-Dealers Named
Robinhood Financial LLC
Professionals
Cs: Pro se.
Rs: (RFLLC) 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 unanimously denies, with prejudice, a broker's case after finding he did not submit evidence to support his claims or that he was entitled to the extraordinary relief of reformation of his Form U5 record.
Notes
Arbitrator Remarks -- Explained Award.
Arbitrators
Lorrie E. Whitfield - Chair; William Wilson Lowe; Alan J. Blocher
Broker-Dealers Named
Vanguard Marketing Corporation
Professionals
Cs: (RMP) None.
Rs: (VMCorp) Kenneth J. Turnbull, Morgan Lewis & Bockius LLP, 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 by placing her money in a 408(p)-retirement account, she lost out on a better opportunity investment loses her case against Respondents.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing.
Arbitrators
Diane Ciccone, Esq.
Broker-Dealers Named
Wells Fargo Advisors Financial Network LLC
Professionals
Cs: Pro se.
Rs: (WFANLLC & BWM) Christina J. Herrera, 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
In this intra-industry case, Claimant broker-dealer prevails on its raiding case (even though it was not awarded its request for injunctive relief) and is awarded compensatory damages from Respondents, while Respondent broker loses his Counterclaim for defamation among other allegations.
Notes
Raiding case.
Arbitrators
Kenneth R. Starr, Esq. - Chair; Charles L.A. Terreni; Linda L. Maslar
* 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 (Individually, as Trustees and Executor) alleging that their account suffered poor performance and loses after they were advised to purchase inappropriate investments and that they incurred excessive fees due to their allegation that the account was churned lose their case against Respondents. Respondent brokers are each awarded expungement of this matter from their respective CRD records despite the objection of Claimants.
Notes
Majority Public Panel. Arbitrator Remarks -- Expungement granted.
Arbitrators
Julius Z. Frager - Chair; Louis H. Miron, Esq.; Jacqueline Marie Pierre
Broker-Dealers Named
Stifel Nicolaus & Company Incorporated
Professionals
Cs: Antonin Robbason, Ryan Smith & Carbine Limited, Rutland, VT.
Rs: (SN&CInc, HGC & WLH) Theodore R. Snyder, Davis Wright Tremaine LLP, 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 registered representative is held liable for the amounts due and owing on five Promissory Note Agreements she signed as part of her employment with Claimant broker-dealer.
Notes
Big $s. Arbitrator Remarks.
Arbitrators
Katherine Hendricks, Esq.
Broker-Dealers Named
Raymond James & Associates Incorporated
Professionals
Cs: (RJ&AInc) Michael A. Brady & Wesley S. Love, Bass Berry & Sims, Memphis, TN. OSC.
Rs: (HB) No-show.
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