UPDATE : ARBchek

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

New Award Briefs

Report Dated: 2020-11-18

UA 2020-26

Primary Sort

Secondary Sort

Dispute Information

Damages*

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Stewart v. JP Morgan

Allegation II

Forum

FINRA

Allegation III

Docket No

20-00958

Products

NP

Issue Date

2020-10-21

Situs

Denver

State

CO

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 FINRA arbitration case and a customer complaint from her CRD record but loses her request for expungement of a second customer complaint.

Notes

Arbitrator Remarks -- Expungement granted.

People & Entities

Arbitrators

Philip J. Glick, Esq.

Broker-Dealers Named

JP Morgan Securities LLC

Professionals

  • Cs: (KMS) Frances Menzer, HLBS Law, Westminster, CO.
  • Rs: (JPMSLLC) Thomas J. Cahill, Duane Morris LLP, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Brin v. New England Securities

Allegation II

Forum

FINRA

Allegation III

Docket No

20-00445

Products

LifeInsurance

Issue Date

2020-10-30

Situs

Orlando

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

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

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Gayle B. Carlson, Esq.

Broker-Dealers Named

New England Securities

Professionals

  • Cs: (FRB) Harris Freedman, HLBS Law, Westminster, CO.
  • Rs: (NESecs) No-show.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Breen v. ProEquities Incorporated

Allegation II

Forum

FINRA

Allegation III

Docket No

20-00664

Products

VariableAnnuities

Issue Date

2020-10-21

Situs

Orlando

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 granted expungement of a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

John P. Cullem, Esq.

Broker-Dealers Named

ProEquities Incorporated

Professionals

  • Cs: (LAB) Harris Freedman, HLBS Law, Westminster, CO.
  • Rs: (PEInc) Katherine C. Donlon, Wiand Guerra King PA, Tampa, FL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Churchill v. Citigroup Global

Allegation II

Forum

FINRA

Allegation III

Docket No

20-00886

Products

MutualFunds

Issue Date

2020-10-30

Situs

Orlando

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 three customer complaints from appearing on her CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

John P. Cullem, Esq.

Broker-Dealers Named

Citigroup Global Markets Incorporated

Professionals

  • Cs: (HDC) Harris Freedman, HLBS Law, Westminster, CO.
  • Rs: (CGMInc) Lisa Lightbody, Kauff Laton Miller LLP, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Smith v. Edward Jones

Allegation II

Forum

FINRA

Allegation III

Docket No

20-00988

Products

Annuities

Issue Date

2020-10-30

Situs

Jacksonville

State

FL

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 registered representative is granted his request for expungement of a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Maurice M. Feller, Esq. - Chair; Mitchel Weiss, Esq.; Suzanne E. Reynolds-Brady

Broker-Dealers Named

Edward Jones

Professionals

  • Cs: (GMS) Elaine M. Rice & Kimberly A. Koves, Wiand Guerra King PA, Tampa, FL.
  • Rs: (EDJ&CLP) Annie Zaffuto, St. Louis, MO. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Lizardi v. UBS Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01600

Products

NP

Issue Date

2020-10-30

Situs

Orlando

State

FL

Clmd Compensatory

0.0

Total Amt Awarded

Equity

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 broker wins his request for expungement of a customer complaint from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Thomas Joseph Atkinson, Sr., JD - Chair; Ron Pekoe; Ken Ziesenheim, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (VL) Todd A. Zuckerbrod, T.A. Zuckerbrod PA, Boca Raton, FL.
  • Rs: (UBSFSInc) Omar Perez, UBS Business Solutions US LLC, Nashville, TN. ISC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

McDonnell v. Berthel Fisher

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

19-01305

Products

DirectInvesmts; REITs

Issue Date

2020-10-21

Situs

Chicago

State

IL

Clmd Compensatory

750.0

Total Amt Awarded

Equity

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

An All-Public Panel granted Respondent broker-dealer's Pre-Hearing Motion to Dismiss without prejudice pursuant to FINRA Rule 12206 (Six-year Eligibility Rule). The customers' claims involved their investments in non-traded real estate investment trusts (REITs) among other things.

Notes

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

Arbitrators

Jonathan B. Gilbert, Esq. - Chair; Ray J. Grzebielski, Esq.; Edward Louis Koven

Broker-Dealers Named

Berthel Fisher & Company Financial Services Incorporated

Professionals

  • Cs: Bruce D. Oakes & Richard B. Fosher, Oakes & Fosher, St. Louis, MO.
  • Rs: (BF&CFSInc) Vincent D. Louwagie & Cory D. Olson & Peter J. McElligott, Anthony Ostlund et al., Minneapolis, MN. OSC.

TypeDisp

MemberMember

Allegation I

Raiding

Short Caption

JP Morgan v. Raymond James

Allegation II

TakingRecords

Forum

FINRA

Allegation III

InjunctiveRelief

Docket No

18-03204

Products

NP

Issue Date

2020-10-22

Situs

Indianapolis

State

IN

Clmd Compensatory

1160.5

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-dealer and three Respondent brokers lose their respective claims and Counterclaims against either other involving raiding of records and client information along with alleged defamation on the part of said broker-dealer. However, said parties agreed to a Stipulated Injunction.

Notes

PHL -- TRO Granted. Raiding Case -- Preliminary Injunction Granted.

Arbitrators

Susan L. Walker, Esq. - Chair; Laurel Robin Klapper Gilchrist, Esq.; Eugene G. Ziobron

Broker-Dealers Named

JP Morgan Securities LLC; Raymond James & Associates Incorporated

Professionals

  • Cs: (JPMSLLC) Leonard Weintraub & Steven Castaldo, Paduano & Weintraub, New York, NY. OSC.
  • Rs: (RJ&AInc, NDS, MVO & JMS) David W. Erb & Jeffrey M. Csercsevits, Fisher & Phillips, Philadelphia, PA. OSC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Strong v. Transamerica Financial

Allegation II

Defamation

Forum

FINRA

Allegation III

Compensatn

Docket No

20-01352

Products

NP

Issue Date

2020-10-28

Situs

Indianapolis

State

IN

Clmd Compensatory

500.0

Total Amt Awarded

Equity

Compensatory Awarded

0.0

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 Panel grants Respondent broker-dealer's Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 13206 (Six-year Eligibility Rule for Industry Disputes) thus denying Claimant's request for reformation of his Form U5 record.

Notes

Pre-Hearing Adjudication -- Full Dismissal. Arbitrator Remarks.

Arbitrators

Gregory G. Gocek - Chair; Paul Lansing, Esq.; Keith Lorenzo Griffin

Broker-Dealers Named

Transamerica Financial Advisors Incorporated

Professionals

  • Cs: (RMS) Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (TFAInc) James F. Koehler, Koehler Fitzgerald LLC, Cleveland, OH. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Breault v. Kestra Investment

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01365

Products

REITs

Issue Date

2020-10-29

Situs

Wichita

State

KS

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 complaint from his CRD record involving a customer's investment in REITs.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Joseph Neal Richardson

Broker-Dealers Named

Kestra Investment Services LLC

Professionals

  • Cs: (JAB) Benjamin Winograd & Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (KISLLC) Richard A. D'Amura & Melanie L. Ryan, D'Amura & Zaidman, Austin, TX. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Shepard v. LPL Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

20-00803

Products

NP

Issue Date

2020-10-30

Situs

Augusta

State

ME

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 why he has denied a broker's request for expungement of a customer complaint from his CRD record.

Notes

Arbitrator Remarks.

Arbitrators

Richard W. Dissen, Esq.

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: (TOS) Dochtor Kennedy & Michael O'Gara, AdvisorLaw LLC, Westminster, CO.
  • Rs: (LPLFLLC) Sara B. Davis, Boston, MA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Boukamp v. Citigroup Global

Allegation II

Forum

FINRA

Allegation III

Docket No

20-01029

Products

NP

Issue Date

2020-10-23

Situs

Detroit

State

MI

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 two customer complaints from his CRD record.

Notes

None.

Arbitrators

Jeffry Mark Bauer, Esq.

Broker-Dealers Named

Citigroup Global Markets Incorporated

Professionals

  • Cs: (JWB) Jonathan M. Sterling, Saretsky Hart et al., Birmingham, MI.
  • Rs: (CGMInc) Adam M. Kauff, Kauff Laton Miller LLP, New York, NY. OSC.

TypeDisp

CustomerMember

Allegation I

FailToObey

Short Caption

Dalrymple v. Fidelity Brokerage

Allegation II

Suitability

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

20-01786

Products

CorpDebt

Issue Date

2020-10-26

Situs

Minneapolis

State

MN

Clmd Compensatory

65.0

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 regarding the alleged switching his self-directed account to a separately managed account. Non-Party broker is awarded expungement of this matter from his CRD record.

Notes

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

Arbitrators

Alain Frecon, Esq.

Broker-Dealers Named

Fidelity Brokerage Services LLC

Professionals

  • Cs: Kyle M. Kulzer & Daniel A. Ross, Alan L. Frank Law Associates PC, Jenkintown, PA.
  • Rs: (FBSLLC) Joel M. Everest, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp

MemberEmployee

Allegation I

Indemnification

Short Caption

Capital Financial v. Knuttila

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

20-02075

Products

NP

Issue Date

2020-10-26

Situs

Minneapolis

State

MN

Clmd Compensatory

50.0

Total Amt Awarded

50.0

Compensatory Awarded

50.0

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

Respondent broker is held liable, pursuant to the Representative Agreement, to Claimant broker-dealer for the amount it paid to said broker's customer in defense and settlement of an arbitration case.

Notes

Please Note* This matter proceeded pursuant to Rule 13800 of the Code.

Arbitrators

Steven M. Bialick

Broker-Dealers Named

Capital Financial Services Incorporated

Professionals

  • Cs: (CFSInc) Gordon D. Dihle, Corporate Legal LLC, Centennial, CO. OSC.
  • Rs: (SRK) None.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Slipek v. Investors Capital

Allegation II

Forum

FINRA

Allegation III

Docket No

19-03546

Products

Margin; Options

Issue Date

2020-10-21

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

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

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Sam Antar, Esq.

Broker-Dealers Named

Investors Capital Corporation; JP Turner & Company LLC; NewBridge Securities Corporation

Professionals

  • Cs: (JOS) Scott Holcomb, Holcomb & Ward LLP, Atlanta, GA.
  • Rs: (ICCorp & JPT&CLLC) David Feldstein, Cetera Financial Group, New York, NY. ISC.
  • Rs: (NBSCorp) Gregg Breitbart, Kaufman Dolowich Voluck LLC, Fort Lauderdale, FL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Knox v. Merrill Lynch

Allegation II

Forum

FINRA

Allegation III

Docket No

20-00427

Products

NP

Issue Date

2020-10-27

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

A broker loses his request for expungement of six customer complaints from appearing on his CRD record.

Notes

None.

Arbitrators

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

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

  • Cs: (SK) Dochtor Kennedy & Erica Harris, AdvisorLaw LLC, Westminster, CO.
  • Rs: (MLPFSInc) W. Preston Martin, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Knox v. Merrill Lynch

Allegation II

Forum

FINRA

Allegation III

Docket No

20-00435

Products

NP

Issue Date

2020-10-28

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

A registered representative loses his request for expungement of five customer complaints from his CRD record.

Notes

None.

Arbitrators

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

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

  • Cs: (SK) Dochtor Kennedy & Erica Harris, AdvisorLaw LLC, Westminster, CO.
  • Rs: (MLPFSInc) W. Preston Martin, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Straight Trust v. UBS Financial

Allegation II

Misreprestn

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

19-02180

Products

Options

Issue Date

2020-10-19

Situs

New York

State

NY

Clmd Compensatory

1000.0

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 trust loses its claims against Respondent broker-dealer and two Non-Party brokers are granted expungement of this matter from their respective CRD records. One Arbitrator dissents with respect to the granting of expungement and would have awarded the customer damages.

Notes

All-Public Panel. Arbitrator Remarks -- Expungement granted. Arbitrator dissents with explanation.

Arbitrators

John F. Duane, Esq. - Chair; Gerald H. Grayson (Dissents); Patricia Kathleen Costello

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: Seth E. Lipner, Deutsch & Lipner, Garden City, NY.
  • Rs: (UBSFSInc) Joseph Serino Jr., Latham & Watkins, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Greier v. Citigroup Global

Allegation II

Forum

FINRA

Allegation III

Docket No

20-00537

Products

MuniSecs

Issue Date

2020-10-21

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

A broker is granted his request for expungement of a customer complaint from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Robert E. Anderson, Esq.

Broker-Dealers Named

Citigroup Global Markets Incorporated

Professionals

  • Cs: (AKG) Michael O'Gara & Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (CGMInc) Adam Kauff, Kauff Laton Miller LLP, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Achten v. Merrill Lynch

Allegation II

Forum

FINRA

Allegation III

Docket No

20-00915

Products

Equity

Issue Date

2020-10-20

Situs

Cincinnati

State

OH

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

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

David F. Barrett

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

  • Cs: (GGA) Kurt T. Kalberer II, Kalberer LLP, New York, NY.
  • Rs: (MLPFSInc) W. Preston Martin, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Battistini v. Merrill Lynch

Allegation II

Supervision

Forum

FINRA

Allegation III

BreachContract

Docket No

18-01674

Products

MutualFunds; MuniSecs; Margin

Issue Date

2020-10-27

Situs

San Juan

State

PR

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

Two customers settle their claims against Respondent broker-dealers relating to investments in closed-end and open-end bond funds with the use of margin. Non-Party broker is granted expungement of this matter from his CRD record.

Notes

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

Arbitrators

Monica I. Salis, Esq. - Chair; Langfred W. White, Esq.; Susan Ruth Levin

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated; Popular Securities LLC

Professionals

  • Cs: Walter J. Mathews, Mathews Giberson LLP, Fort Lauderdale, FL.
  • Rs: (MLPFSInc) Tanya Lambrechts & A. Garcia, Bressler Amery & Ross, Fort Lauderdale, FL. OSC.
  • Rs: (PSLLC) Alan M. Wolper, Ulmer & Berne, Chicago, IL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Pearson v. Merrill Lynch

Allegation II

Forum

FINRA

Allegation III

Docket No

20-00902

Products

Equity; Margin; VariableAnnuities

Issue Date

2020-10-27

Situs

Columbia

State

SC

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 appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Michael J. Ahlstrom, Esq.

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

  • Cs: (MCP) Michael O'Gara & Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (MLPFSInc) Christy Boardman & Sarah Yates, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Stone v. Clifton Myers

Allegation II

Misreprestn

Forum

FINRA

Allegation III

BreachContract

Docket No

18-04069

Products

ETFs

Issue Date

2020-10-20

Situs

Dallas

State

TX

Clmd Compensatory

997.5

Total Amt Awarded

455.2

Compensatory Awarded

400.0

Punitive Damage Awarded

0.0

Attorney Fees Awarded

50.0

* 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 is awarded nearly $500,000 in damages inclusive of attorney fees pursuant to Tex. Civ. Prac. & Rem. Code § 38.001 against Respondent broker-dealer and broker relating to his investment in leveraged exchange traded funds.

Notes

All-Public Panel. Arbitrator Remarks.

Arbitrators

Mark L. Williams, Esq. - Chair; Robert L. Chisolm; Donald Gene Miller

Broker-Dealers Named

Clifton Myers Financial Advisory Incorporated

Professionals

  • Cs: Jason Albin & Tyler Talbert, ChapmanAlbin LLC, Cleveland, OH.
  • Rs: (CMFAInc) Clifton Myers, President, Round Rock, TX. ISC.
  • Rs: (CM) None.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Bumstead v. Transamerica Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

20-00131

Products

NP

Issue Date

2020-10-29

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

A registered representative wins his request for expungement of a customer complaint from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Stephany Adriene Watson, Esq.

Broker-Dealers Named

Transamerica Financial Advisors Incorporated

Professionals

  • Cs: (MTB) Dochtor Kennedy & Harris Freedman, AdvisorLaw LLC, Westminster, CO.
  • Rs: (TFAInc) Susan D. Duff, Transamerica, St. Petersburg, FL. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Harrison v. Wells Fargo

Allegation II

Forum

FINRA

Allegation III

Docket No

20-00905

Products

CorpDebt

Issue Date

2020-10-29

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 awards Claimant broker expungement of a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Kenneth James Pedersen

Broker-Dealers Named

Wells Fargo Investments LLC

Professionals

  • Cs: (GCH) Dochtor Kennedy & Benjamin Winograd, AdvisorLaw LLC, Westminster, CO.
  • Rs: (WFILLC) Geoffrey S. Beckham, Wells Fargo Legal Department, San Francisco, CA. ISC.
Any attempt to use robotics to download Awards posted on this WebSite or to gain access to the Awards on this WebSite in contravention of the Terms of Use Agreement is an unauthorized use, an abuse of the privileges extended to users of this WebSite, and, in our view, a violation of federal law.