UPDATE : ARBchek

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

New Award Briefs

Report Dated: 2019-10-15

2019-37

Primary Sort

Secondary Sort

Dispute Information

Damages*

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Carney v. Wells Fargo

Allegation II

Defamation

Forum

FINRA

Allegation III

Compensatn

Docket No

16-03359

Products

NP

Issue Date

2019-09-11

Situs

San Francisco

State

CA

Clmd Compensatory

2181.3

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 broker alleging wrongful termination and seeking deferred compensation loses his claim against Respondent broker-dealer. Claimant broker also loses his request for Reformation of his Form U-5 record.

Notes

None.

People & Entities

Arbitrators

Dean J. Dietrich, Esq. - Chair; Ann Elizabeth Sarli; Mary H. Evans, JD

Broker-Dealers Named

Wells Fargo Advisors LLC

Professionals

  • Cs: (TJC) William R. Lindsley, Law Offices of W.R. Lindsley, Toledo, OH.
  • Rs: (WFALLC) Kevin J. Woods, White Woods LLP, San Francisco, CA. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Miramontes v. Morgan Stanley

Allegation II

Forum

FINRA

Allegation III

Docket No

18-02745

Products

MutualFunds

Issue Date

2019-09-11

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 awarded expungement of a customer compliant appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Andrew M. Mintzer, CPA

Broker-Dealers Named

Morgan Stanley & Company LLC

Professionals

  • Cs: (IZM) David Harrison, Law Offices of D. Harrison, Beverly Hills, CA.
  • Rs: (MS&CLLC) Timothy L. Moore, Morgan Stanley Smith Barney LLC, San Francisco, CA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Bradley v. Purshe Kaplan

Allegation II

Forum

FINRA

Allegation III

Docket No

18-04359

Products

Annuities; MutualFunds

Issue Date

2019-09-11

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 provides extensive factual background as to why she has granted Claimant broker's request for expungement of a customer complaint appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted. Explained Award.

Arbitrators

Constance Ellen Boukidis

Broker-Dealers Named

Purshe Kaplan Sterling Investments Incorporated

Professionals

  • Cs: (MAB) Harris Freedman, HLBS Law, Westminster, CO.
  • Rs: (PKSIInc) David M. Purcell, Albany, NY. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Myron v. Caplink Securities

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00014

Products

NP

Issue Date

2019-09-12

Situs

San Diego

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 loses his request for expungement of two customer disputes from his CRD record.

Notes

None.

Arbitrators

Herbert Liberman

Broker-Dealers Named

Caplink Securities Incorporated

Professionals

  • Cs: (DCM) Frances Menzer, HLBS Law, Westminster, CO.
  • Rs: (CSInc) Scott L. Dahle, Hermosa Beach, CA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Werdel v. Cuso Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00164

Products

Money Mkt A/C

Issue Date

2019-09-10

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

Registered representative is awarded expungement of a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Neil S. Jasper

Broker-Dealers Named

Cuso Financial Services Limited Partnership

Professionals

  • Cs: (TSW) Matthew E. Wolper, Wolper Law Firm PA, Plantation, FL.
  • Rs: (CFSLP) Maria J. Seedner, San Diego, CA. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Chiarito v. Mutual of Omaha

Allegation II

Defamation

Forum

FINRA

Allegation III

Negligence

Docket No

18-02220

Products

NP

Issue Date

2019-09-09

Situs

Denver

State

CO

Clmd Compensatory

0.0

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 registered representative settles her claims against Respondent broker-dealer and is awarded Reformation of her Form U-5 record.

Notes

This is a Stipulated Award. Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Richard Djokic, Esq. - Chair; Ronald G. Guida; Michael Eugene Ford

Broker-Dealers Named

Mutual of Omaha Investor Services Incorporated

Professionals

  • Cs: (CJC) Joshua B. Kons, Law Offices of J.B. Kons, Hartford, CT.
  • Rs: (MOISInc) Patrick B. Griffin, Kutak Rock LLP, Omaha, NE. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Wagner v. LPL Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

18-04358

Products

REITs

Issue Date

2019-09-11

Situs

Wilmington

State

DE

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 FINRA arbitration case and a customer complaints from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Louis H. Miron, Esq.

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: (WDW) Harris Freedman, AdvisorLaw LLC, Westminster, CO.
  • Rs: (LPLFLLC) Jon D. Kaplon, Boston, MA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Varga v. JP Morgan

Allegation II

Forum

FINRA

Allegation III

Docket No

18-04064

Products

NP

Issue Date

2019-09-09

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

Claimant broker is awarded expungement of a customer complaint from his CRD record. The request for expungement relates to a customer complaint in which the customer thought money was missing from his account.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Nanci Sondra Landy

Broker-Dealers Named

JP Morgan Securities LLC

Professionals

  • Cs: (MV) None. Previously represented by: Michael T. Roche, Schuyler Roche & Chrisham, Chicago, IL until 6/24/19.
  • Rs: (JPMSLLC) Candice M. Capoziello & Jeffrey S. Dunlap, Ulmer & Berne, Cleveland, OH. OSC.

TypeDisp

CustomerMember

Allegation I

Supervision

Short Caption

Martinangeli v. Citigroup Global

Allegation II

SellingAway

Forum

FINRA

Allegation III

BreachContract

Docket No

18-04087

Products

Cryptocurrency

Issue Date

2019-09-13

Situs

Boca Raton

State

FL

Clmd Compensatory

1000.0

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

A customer settles his claims against Respondent broker-dealer and broker relating to his investment in cryptocurrency. Respondent broker is awarded expungement of this matter from his CRD record.

Notes

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

Arbitrators

Robert G. Geeseman, Esq. - Chair; Linda M. Foster-Wells; Paul J. Burkhart

Broker-Dealers Named

Citigroup Global Markets Incorporated dba Citi Personal Wealth Management, a New York corporation

Professionals

  • Cs: David C. Silver, Silver Miller LLP, Coral Springs, FL.
  • Rs: (CGMInc & GPV) Scott W. Atherton & Jon A. Jacobson, Atherton McAuliffe & Reeder, West Palm Beach, FL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Traina v. Wells Fargo

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00019

Products

UITs

Issue Date

2019-09-10

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

Claimant broker is awarded expungement of two customer complaints and one arbitration case from his CRD record. The complaints involved investments in Unit Investment Trusts.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Carl Shechter, Esq.

Broker-Dealers Named

Wells Fargo Clearing Services LLC

Professionals

  • Cs: (FT) Michelle M. Atlas, HLBS Law, Westminster, CO.
  • Rs: (WFCSLLC) Patricia E. Cowart, Wells Fargo Legal Department, Fort Lauderdale, FL. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Shanawany v. Ameriprise Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00160

Products

DirectInvesmts

Issue Date

2019-09-11

Situs

Boca Raton

State

FL

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

An Arbitrator denies Claimant broker's request for expungement of a customer complaint from his CRD record involving a private placement in a limited liability company.

Notes

None.

Arbitrators

Elena G. Rodriguez

Broker-Dealers Named

Ameriprise Financial Services Incorporated

Professionals

  • Cs: (RS) Harris Freedman, HLBS Law, Westminster, CO.
  • Rs: (AFSInc) Gerry A. Giurato, Murphy & Anderson, Jacksonville, FL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Frye v. LPL Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00835

Products

MutualFunds

Issue Date

2019-09-13

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

A broker is awarded expungement of a customer complaint involving the customer's investments in mutual funds from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Mark C. Perry, Esq.

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: (AF) N. Nancy Ghabai, Ghabai Law Group LLC, Boston, MA.
  • Rs: (LPLFLLC) Jon D. Kaplan, Boston, MA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Rhodes v. Citigroup Global

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00146

Products

Equity

Issue Date

2019-09-09

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 broker is granted expungement of customer dispute information appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted. Explained Award.

Arbitrators

Lynn Hirschfeld Brahin, Esq.

Broker-Dealers Named

Citigroup Global Markets Incorporated

Professionals

  • Cs: (MKR) Michael Bessette, HLBS Law, Westminster, CO.
  • Rs: (CGMInc) Adam Kauff, Kauff Laton Miller LLP, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Szkutnicki v. JP Morgan

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

18-03661

Products

NP

Issue Date

2019-09-09

Situs

Indianapolis

State

IN

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

A broker loses his request for Reformation of his Form U-5 record.

Notes

None.

Arbitrators

Leonard Arthur Nelson, Esq. - Chair; Richard A. Young; Sharlee Cole Little

Broker-Dealers Named

JP Morgan Securities LLC

Professionals

  • Cs: (BLS) James A. Klimek, J.A. Klimek Attorney-at-Law, Indianapolis, IN.
  • Rs: (JPMSLLC) Jeffrey S. Dunlap & Daniela Paez, Ulmer & Berne, Cleveland, OH. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Moy v. Wells Fargo

Allegation II

Forum

FINRA

Allegation III

Docket No

18-04071

Products

Annuities; MutualFunds

Issue Date

2019-09-13

Situs

Baltimore

State

MD

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

The Panel grants Claimant broker's request for expungement of three customer complaints from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

David L. Ruderman, Esq. - Chair; Marian Smith Glenn; Joan M. Smith

Broker-Dealers Named

Wells Fargo Advisors Financial Network

Professionals

  • Cs: (JKM) Jennifer R. Willey, Crowe & Dunlevy, Oklahoma City, OK.
  • Rs: (WFAFNtwk) Michael Naccarato, Wells Fargo Legal Department, St. Louis, MO. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Mitchell v. Janney Montgomery

Allegation II

Forum

FINRA

Allegation III

Docket No

18-04383

Products

Annuities

Issue Date

2019-09-12

Situs

Baltimore

State

MD

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 Claimant broker expungement of a customer complaint involving an annuity from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Brenda J. Stovall, Esq.

Broker-Dealers Named

Janney Montgomery Scott LLC

Professionals

  • Cs: (TEM) Daniel J. Donovan, Donovan & Rainie, Baltimore, MD.
  • Rs: (JMSLLC) Jill B. Clarke, Philadelphia, PA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Luther v. National Planning

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00125

Products

NP

Issue Date

2019-09-09

Situs

Omaha

State

NE

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

An Arbitration Panel awards broker expungement of customer dispute information appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Charles G. Michaels, Esq. - Chair; Thomas F. Mahoney, Esq.; Bryan L. Johnson

Broker-Dealers Named

National Planning Corporation

Professionals

  • Cs: (BDL) Richard P. Jeffries & Megan S. Wright, Cline Williams et al., Omaha, NE.
  • Rs: (NPCorp) Scott R. Forbush, Jackson National Life Insurance Company, Lansing, MI. ISC.

TypeDisp

EmployeeMember

Allegation I

UnjustEnrichment

Short Caption

Sharpe v. National Securities

Allegation II

Reformation(U-5)

Forum

FINRA

Allegation III

Defamation

Docket No

16-03665

Products

NP

Issue Date

2019-09-13

Situs

Newark

State

NJ

Clmd Compensatory

2614.6

Total Amt Awarded

175.8

Compensatory Awarded

175.8

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 is awarded damages from Respondent broker-dealer on his unjust enrichment claim but is also held liable to said Respondent broker-dealer for damages relating to its Counterclaim for indemnification. Broker's claims against the named Respondent registered representatives are denied.

Notes

Rs Robert Bruce Fagenson, David Charles Levine, David Sean Rich and Glenn Charles Worman were not assessed any portion of the awarded amount. Rs National Securities Corporation was assessed. Set-Off Award. Arbitrator Remarks.

Arbitrators

Robert J. McDonnell - Chair; Marvin L. Schuldiner; Paul G. Garjian

Broker-Dealers Named

National Securities Corporation

Professionals

  • Cs: (GRS) John E. Lawlor, Attorney-at-Law, Mineola, NY.
  • Rs: (NSCorp, RBF, DCL, DSR & GCW) Richard Roth, The Roth Law Firm, New York, NY. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Grill v. HSBC Securities

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

18-01175

Products

MuniSecs

Issue Date

2019-09-09

Situs

Newark

State

NJ

Clmd Compensatory

100.0

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 alleging fraud, breach of contract, and unsuitability, among other things, settles his claims against Respondent broker-dealer involving his investment in a municipal bond fund. Non-Parties brokers' request for expungement of this matter from their respective CRD records is denied.

Notes

This is a Stipulated Award. All-Public Panel.

Arbitrators

Robert R. Salman, Esq. - Chair; Fred S. Pieroni; Sidney Seligman

Broker-Dealers Named

HSBC Securities (USA) Incorporated

Professionals

  • Cs: Michael G. Rapaport, Erez Law PLLC, Miami, FL.
  • Rs: (HSBCSUSAInc) Bryon Ellis Jr., Bressler Amery & Ross, Florham Park, NJ. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Glodek v. William Scott & Company

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00129

Products

NP

Issue Date

2019-09-13

Situs

Newark

State

NJ

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

An Arbitrator explains in great detail why he has denied a broker's request for expungement of two customer complaints appearing on his CRD record, finding that said complaints were barred by the applicable six-year eligibility statute.

Notes

Arbitrator Remarks -- Explained Award.

Arbitrators

Jay Alan Kranis

Broker-Dealers Named

William Scott & Company LLC

Professionals

  • Cs: (JSG) Tosh D. Grebenik, FA Expungement LLC, Denver, CO.
  • Rs: (WS&CLLC) Robert Hess, Semper Flight LLC, Maywood, NJ. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Sergio v. Raymond James

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00605

Products

Annuities

Issue Date

2019-09-11

Situs

Newark

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 awarded expungement relief relating to a customer complaint appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Robert E. Anderson, Esq.

Broker-Dealers Named

Raymond James Financial Services Incorporated

Professionals

  • Cs: (NWS) N. Nancy Ghabai, Ghabai Law Group LLC, Boston, MA.
  • Rs: (RJFSInc) Brandy Pikus, St. Petersburg, FL. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Mante v. The GMS Group

Allegation II

Forum

FINRA

Allegation III

Docket No

19-01059

Products

MuniSecs; CorpDebt

Issue Date

2019-09-11

Situs

Newark

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 awarded expungement of two customer complaints from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Robert E. Anderson, Esq.

Broker-Dealers Named

The GMS Group LLC

Professionals

  • Cs: (PDM) Alex R. Schmidt, Lubiner Schmidt & Palumbo, Cranford, NJ.
  • Rs: (TGMSGLLC) Timothy Donohue, NJ. ISC.

TypeDisp

EmployeeMember

Allegation I

Retaliation

Short Caption

Demopoulos v. Deutsche Bank

Allegation II

ConstructiveDischarge

Forum

FINRA

Allegation III

BreachContract

Docket No

11-00134

Products

PromissoryNote

Issue Date

2019-09-09

Situs

New York

State

NY

Clmd Compensatory

11068.6

Total Amt Awarded

5637.8

Compensatory Awarded

3372.4

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

Two brokers are awarded nearly $5.7 million (inclusive of interest) in damages relating to alleged retaliation by Respondent broker-dealer in violation of Sarbanes-Oxley Act, 18 U.S.C. § 1514A. Said brokers are also held liable to Respondent broker-dealer for over $1 million in damages relating to the amounts due and owing on their respective promissory notes. Claimant brokers voluntarily dismissed their claims against the other named Respondent brokers.

Notes

Big $s. Rs Deutsche Bank AG, Haig Ariyan, Thomas Bowers and Brett Kellam were not assessed any portion of the awarded amount. Rs Deutsche Bank Securities Inc. was assessed. Set-Off Award. Whistleblowing case.

Arbitrators

Ted M. Rosen, Esq. - Chair; Mary Ellen Burns, Esq.; Philip Rachmelowitz, EA, Esq.

Broker-Dealers Named

Deutsche Bank Securities Incorporated; Deutsche Bank AG

Professionals

  • Cs: (CD & MF) Jeffrey Liddle, Liddle & Robinson, New York, NY.
  • Rs: (DBSInc, HA, TB, BK & DBnkAG) Cliff Fonstein & John T. DiNapoli, Seyfarth Shaw, New York, NY. OSC.

TypeDisp

CustomerMember

Allegation I

Churning

Short Caption

LaPolla v. James

Allegation II

Suitability

Forum

FINRA

Allegation III

Supervision

Docket No

17-00537

Products

Equity; Options

Issue Date

2019-09-13

Situs

New York

State

NY

Clmd Compensatory

50.8

Total Amt Awarded

50.8

Compensatory Awarded

50.8

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 grants Claimant's request for a default judgment pursuant to Rule 12801 and holds one named Respondent broker liable to said customer for damages. Claimant voluntarily dismissed his claims against the other named Respondents in this matter with prejudice.

Notes

Rs Ronald G. Richer, Steven David Trigili, Scott Henry Sari, Raymond Edward Ambrosino, Kevin John DeRosa, Louis Lucky Perrotto, and Garden State Securities Inc. were not assessed any portion of the awarded amount. Rs Garland Sean James was assessed. Rule 12801 default judgment.

Arbitrators

Michael H. DuBoff, Esq.

Broker-Dealers Named

Garden State Securities Incorporated

Professionals

  • Cs: Jennifer Tarr, Cold Spring Advisory Group, New York, NY.
  • Rs: (RGR, SDT, SHS, REA, KJD, LLP & GSSInc) Robert I. Rabinowitz, Becker & Poliakoff, Red Bank, NJ. OSC.
  • Rs: (GSJ) None.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

UBS Credit v. DiMartini

Allegation II

BreachContract

Forum

FINRA

Allegation III

UnjustEnrichment

Docket No

18-00565

Products

PromissoryNote

Issue Date

2019-09-12

Situs

New York

State

NY

Clmd Compensatory

386.7

Total Amt Awarded

637.0

Compensatory Awarded

386.7

Punitive Damage Awarded

Attorney Fees Awarded

234.2

* 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

Respondent broker is held liable to Claimant broker-dealer for the amounts due and owing pursuant to four promissory note agreements. Respondent broker loses his Counterclaim for discrimination.

Notes

Big $s. All-Public Panel. Gender Discrimination case. Arbitrator Remarks.

Arbitrators

David John Reilly - Chair; Matthew Fenster; Charles Platto

Broker-Dealers Named

UBS Credit Corporation; UBS Financial Services Incorporated

Professionals

  • Cs: (UBSCCorp & UBSFSInc) John P. Leonard & Kelly Anderson, McElroy Deutsch et al., Morristown, NJ. OSC.
  • Rs: (AD) Dennis Houdek, Attorney-at-Law, New York, NY.

TypeDisp

SmallClms

Allegation I

Churning

Short Caption

Besarkarski v. Joseph Gunnar

Allegation II

Suitability

Forum

FINRA

Allegation III

Misreprestn

Docket No

18-02957

Products

Options; Margin

Issue Date

2019-09-13

Situs

New York

State

NY

Clmd Compensatory

40.5

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

A customer voluntarily withdraws his claims against Respondent broker-dealer and brokers with prejudice and is held liable to said Respondents for attorney fees pursuant to CRT v. Steyn, Westlaw 2019, #2750457 and costs. Four named Respondent brokers are awarded expungement of this matter from their respective CRD records.

Notes

Arbitrator Remarks -- Expungement granted. Case law cited.

Arbitrators

Steven T. Stern, Esq.

Broker-Dealers Named

Joseph Gunnar & Company LLC

Professionals

  • Cs: Jennifer Tarr, Cold Spring Advisory Group, New York, NY.
  • Rs: (JG&CLLC, DLP, JAA, SFS & SAS) John E. Lawlor, Attorney-at-Law, Mineola, NY. OSC.
  • Rs: (RAV) None.
  • Rs: (JG) None.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Hechler v. National Securities

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00456

Products

Equity; Margin

Issue Date

2019-09-09

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 a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Howard L. Sobel

Broker-Dealers Named

National Securities Corporation

Professionals

  • Cs: (GBH) Craig Riha & Timothy Feil, Finkelstein & Feil, Bohemia, NY.
  • Rs: (NSCorp) Emily A. Hayes, New York, NY. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Gordinier v. Merrill Lynch

Allegation II

Forum

FINRA

Allegation III

Docket No

19-00386

Products

Equity; Margin

Issue Date

2019-09-10

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 Arbitrator grants Claimant broker's request for expungement of a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Steven T. Stern, Esq.

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

  • Cs: (CGG) Erica Harris, AdvisorLaw LLC, Westminster, CO.
  • Rs: (MLPFSInc) Sarah K. Yates, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp

CustomerMember

Allegation I

Fraud

Short Caption

Bailey v. UBS Financial

Allegation II

Misappropriatn

Forum

FINRA

Allegation III

Suitability

Docket No

18-03141

Products

DirectInvesmts

Issue Date

2019-09-11

Situs

Houston

State

TX

Clmd Compensatory

1282.2

Total Amt Awarded

555.0

Compensatory Awarded

530.0

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 is held liable to a customer for over $500,000 in damages relating to said customer's investment in alleged unsuitable private placements that were part of a Ponzi scheme.

Notes

Big $s. Rescission Requested. All-Public Panel.

Arbitrators

Heather Gaile Layton - Chair; Lynne M. Gomez, Esq.; Camille Morris Tankersley

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: David W. Miller & Samuel B. Edwards, Shepherd Smith et al., Houston, TX.
  • Rs: (UBSFSInc) Paul D. Flack, Pratt & Flack, Houston, TX. OSC.

TypeDisp

CustomerMember

Allegation I

UnauthTdg

Short Caption

Kerby v. Charles Schwab

Allegation II

Supervision

Forum

FINRA

Allegation III

BreachContract

Docket No

18-03907

Products

ETFs

Issue Date

2019-09-11

Situs

Salt Lake City

State

UT

Clmd Compensatory

280.9

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 All-Public Panel explains why it granted Respondent Broker-dealer's Motion for Directed Verdict with respect to the Claimant's case. Non-Party broker is granted expungement of this matter from his CRD record.

Notes

Directed Verdict -- Full Dismissal. All-Public Panel. Arbitrator Remarks -- Expungement granted. Explained Award.

Arbitrators

Mary Margaret Bush, Esq. - Chair; Thaddeus J. Tecza, JD; Ronald G. Guida

Broker-Dealers Named

Charles Schwab & Company Incorporated

Professionals

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

TypeDisp

SmallClms

Allegation I

Suitability

Short Caption

Kilpatrick v. Crance

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

19-00269

Products

Annuities

Issue Date

2019-09-13

Situs

Norfolk

State

VA

Clmd Compensatory

50.0

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 small claims case, A customer loses his claims against Respondent broker-dealer and broker relating to his investment in a OneAmerica annuity. Respondent broker wins expungement of this matter from his CRD record despite the objection of the customer.

Notes

Rescission Requested. Arbitrator Remarks -- Expungement granted.

Arbitrators

David Edward Upton

Broker-Dealers Named

OneAmerica Securities Incorporated

Professionals

  • Cs: Richard S. Frankowski & Robert E. Norton, The Frankowski Firm, Birmingham, AL.
  • Rs: (GHC) Emily Sides Bonds, Jones Walker LLP, Birmingham, AL.
  • Rs: (OASInc) Julie Wilson Portera, Maynard Cooper & Gale, Birmingham, AL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Hobart v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

18-04411

Products

Annuities

Issue Date

2019-09-09

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

Claimant broker is granted expungement relating to a customer complaint appearing on her CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Helen Marinak Blohm, Esq. (fka Helen M. Marinak, Esq.)

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (KMH) Erica Harris & Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (UBSFSInc) Igor V. Stadnik, Keesal Young & Logan, Seattle, WA. OSC.
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