UPDATE : ARBchek

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

New Award Briefs

Report Dated: 2021-09-20

2021-30

Primary Sort

Secondary Sort

Dispute Information

Damages*

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Dubin v. JP Morgan

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

20-01969

Products

NP

Issue Date

2021-08-18

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 granted his request for reformation of defamatory information from appearing on his Form U5 record.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

People & Entities

Arbitrators

Robert E. Jenks

Broker-Dealers Named

JP Morgan Securities LLC

Professionals

  • Cs: (DZD) David Harrison, Law Offices of D. Harrison, Beverly Hills, CA.
  • Rs: (JPMSLLC) Jeffrey S. Dunlap & Shipra K. Rege & Scott Coch, Ulmer & Berne, Cleveland, OH. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Von Burg v. Calton & Associates

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

20-01987

Products

Equity; REITs

Issue Date

2021-08-25

Situs

San Francisco

State

CA

Clmd Compensatory

313.6

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 alleging unsuitable investments in various real estate investment trusts and equity stocks loses her case against Respondent broker-dealer. Non-Party registered representative loses his request for expungement of this matter from his CRD record.

Notes

Rescission Requested. All-Public Panel.

Arbitrators

Laurel Littman Gothelf, MPH - Chair; Joseph C. Roberts, Esq.; Gary H. Kahn

Broker-Dealers Named

Calton & Associates Incorporated

Professionals

  • Cs: Mark Tepper & Brett Alaca, M.A. Tepper PA, Fort Lauderdale, FL.
  • Rs: (C&AInc) Lloyd R. Schwed & Bailey Fore, Schwed Kahle & Kress, Palm Beach Gardens, FL. OSC and Jane E. Schwed, Hall Griffin LLP, Santa Ana, CA. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Schweifler v. Brokersxpress LLC

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02285

Products

NP

Issue Date

2021-08-26

Situs

San Francisco

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

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

Notes

None.

Arbitrators

Thomas D. Reese, Esq.

Broker-Dealers Named

Brokersxpress LLC

Professionals

  • Cs: (MPS) Harry Meyer, Arbitration Evaluation Services LLC, Far Rockaway, NY.
  • Rs: (BLLC) Anthony L. Valenzuela, Charles Schwab & Company Incorporated, San Francisco, CA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Daniel v. Wells Fargo

Allegation II

Forum

FINRA

Allegation III

Docket No

20-03046

Products

Equity

Issue Date

2021-08-25

Situs

San Francisco

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 registered rep wins his request for expungement of a complaint from appearing on his CRD record despite the objection of the customer who submitted said complaint.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Arocles Aguilar

Broker-Dealers Named

Wells Fargo Clearing Services LLC

Professionals

  • Cs: (CND) Benjamin Winograd, HLBS Law, Westminster, CO.
  • Rs: (WFCSLLC) Patricia Cowart, Fort Lauderdale, FL. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Sullivan v. National Planning

Allegation II

Forum

FINRA

Allegation III

Docket No

20-03130

Products

Annuities

Issue Date

2021-08-19

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 registered rep is granted her request for expungement of a customer complaint from her CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Robert E. Jenks

Broker-Dealers Named

National Planning Corporation

Professionals

  • Cs: (JMPS) Zachary Morse, HLBS Law, Westminster, CO.
  • Rs: (NPCorp) Eric A. Michaels, Saretsky Hart et al., Birmingham, MI. OSC.

TypeDisp

CustomerMember

Allegation I

Negligence

Short Caption

Szamosszegi v. TD Ameritrade

Allegation II

BreachFiducDty

Forum

FINRA

Allegation III

Docket No

20-03493

Products

Equity

Issue Date

2021-08-19

Situs

Los Angeles

State

CA

Clmd Compensatory

1080.0

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 Majority-Public Panel grants Respondent broker-dealer's Pre-Hearing Motion to Dismiss pursuant to Rule 12212(c) of the Code for the customer's failure to comply with the Chairperson's Order relating to discovery and the production of documents and information. The Panel also found that said customer failed to prosecute his claims.

Notes

Pre-Hearing Adjudication -- Full Dismissal. Sanctions imposed. Majority Public Panel. Arbitrator Remarks.

Arbitrators

Robert E. Jenks - Chair; H. Stuart Waxman; Edward Banian

Broker-Dealers Named

TD Ameritrade Incorporated

Professionals

  • Cs: Pro se.
  • Rs: (TDAInc) Kendra S. Canape, Gordon Rees et al., Irvine, CA.

TypeDisp

SmallClms

Allegation I

Misreprestn

Short Caption

Williams v. Edward Jones

Allegation II

Negligence

Forum

FINRA

Allegation III

BreachContract

Docket No

20-01801

Products

*

Issue Date

2021-08-26

Situs

Denver

State

CO

Clmd Compensatory

50.0

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

Two customers alleging misrepresentation with respect to the purchase of securities lose their case against Respondent broker-dealer and broker. Respondent broker is granted expungement of this matter from his CRD record despite the objection of the customers.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Charles G. Michaels, Esq.

Broker-Dealers Named

Edward Jones

Professionals

  • Cs: Pro se.
  • Rs: (EDJ&CLP & DAC) Darren Goodman, Tempe, AZ. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Updegrove v. National Securities

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02454

Products

NP

Issue Date

2021-08-19

Situs

Hartford

State

CT

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 wins expungement of three customer complaints from appearing on his CRD record.

Notes

Please Note* This case was administered under the Special Proceeding option for simplified cases. Arbitrator Remarks -- Expungement granted.

Arbitrators

Samuel Harrison Chorches, Esq.

Broker-Dealers Named

National Securities Corporation; Eastbrook Capital Group LLC

Professionals

  • Cs: (SLU) Tosh Grebenik, Judex Law LLC, Broomfield, CO.
  • Rs: (NSCorp) Emily Hayes, National Holding Corporation, New York, NY. ISC.
  • Rs: (ECGLLC) No-show.

TypeDisp

SmallClms

Allegation I

Misreprestn

Short Caption

Zisman Trust v. Oppenheimer & Company

Allegation II

UnauthTdg

Forum

FINRA

Allegation III

Docket No

20-01434

Products

MutualFunds

Issue Date

2021-08-16

Situs

Boca Raton

State

FL

Clmd Compensatory

50.0

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 trust alleging exploitation of an elderly individual settles its claims against Respondent broker-dealer. Non-Party broker is granted expungement of this matter from his CRD record.

Notes

Please Note* This matter proceeded pursuant to Rule 12800 of the Code. This is a Stipulated Award. Arbitrator Remarks -- Expungement granted.

Arbitrators

Steven Gerard Goerke, Esq.

Broker-Dealers Named

Oppenheimer & Company Incorporated

Professionals

  • Cs: Joshua A. Katz, Sallah Astarita & Cox LLC, Boca Raton, FL.
  • Rs: (O&CInc) Nicola Murphy, Office of the General Counsel, New York, NY. ISC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Jaremback v. LPL Financial

Allegation II

Supervision

Forum

FINRA

Allegation III

Negligence

Docket No

20-01439

Products

DirectInvesmts; MutualFunds

Issue Date

2021-08-26

Situs

Boca Raton

State

FL

Clmd Compensatory

450.0

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

Two customers alleging negligent supervision with respect to the purchase of alternative investments such as FS Energy settle their claims against Respondent broker-dealer. Non-Party broker is granted his request for expungement of this matter from appearing on his CRD record.

Notes

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

Arbitrators

Nanci Sondra Landy - Chair; Erika Deutsch Rotbart; Robert Stanley Zack

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: Lars Soreide, Soreide Law Group PLLC, Pompano Beach, FL.
  • Rs: (LPLFLLC) Neil S. Baritz & Heather Cooper, Baritz & Colman, Boca Raton, FL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Greenfield v. Morgan Stanley

Allegation II

Forum

FINRA

Allegation III

Docket No

20-03210

Products

MuniSecs

Issue Date

2021-08-18

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

Registered representative wins expungement of four customer complaints from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Leslie L. Cooney, Esq.

Broker-Dealers Named

Morgan Stanley; The GMS Group LLC

Professionals

  • Cs: (MRG) Mark S. Simms, Simms Law PA, Fort Lauderdale, FL.
  • Rs: (MSSBLLC) Gina Shlaferman, St. Petersburg, FL. ISC.
  • Rs: (TGMSGLLC) Matthew E. Lipman, Law Offices of M.E. Lipman, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Stefanou v. Edward Jones

Allegation II

Forum

FINRA

Allegation III

Docket No

20-04154

Products

MutualFunds

Issue Date

2021-08-20

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 Claimant broker's request for expungement of three customer complaints from appearing on his CRD record.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Mitchel Weiss, Esq.

Broker-Dealers Named

Edward Jones

Professionals

  • Cs: (GS) Harris Freedman, HLBS Law, Westminster, CO.
  • Rs: (EDJ&CLP) Jonathan W. Hackbarth, Quarles & Brady LLP, Milwaukee, WI. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Crane v. Wynston Hill

Allegation II

UnauthTdg

Forum

FINRA

Allegation III

Misreprestn

Docket No

19-02155

Products

Equity; ETFs

Issue Date

2021-08-17

Situs

Des Moines

State

IA

Clmd Compensatory

314.9

Total Amt Awarded

478.2

Compensatory Awarded

314.9

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 unsuitability and unauthorized trading with respect to the purchase of various equity stocks and exchange-traded funds including Proshares Ultra VIX Short Term Futures ETF and Square Inc. is awarded damages from Respondent broker-dealer and a non-appearing broker. Two named brokers are granted their requests for expungement of this matter from their respective CRD records.

Notes

Rs Robert Joseph Calamunci Sr., Craig Jay Sherman and Christopher Joseph Nelson were not assessed any portion of the awarded amount. Rs Wynston Hill Capital LLC and Joseph Morris Thurnherr was assessed. Majority Public Panel. Arbitrator Remarks -- Expungement granted.

Arbitrators

Avery B. Goodman, Esq. - Chair; Mark A. Frankel, JD; David Evans Rosedahl, Esq.

Broker-Dealers Named

Wynston Hill Capital LLC

Professionals

  • Cs: Daniel D'Costa, D'Costa Law, Hicksville, NY.
  • Rs: (WCLLC & RJC) Paul Goodman, Cyruli Shanks et al., New York, NY. OSC.
  • Rs: (CJS) David A. Allen, Allen & Thomas, New York, NY.
  • Rs: (CJN) None.
  • Rs: (JMT) No-show.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Rocks v. Fifth Third

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

21-00196

Products

NP

Issue Date

2021-08-24

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

An Arbitrator grants a broker's request for reformation of his Form U5 record finding it is defamatory in nature.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Ray J. Grzebielski, Esq.

Broker-Dealers Named

Fifth Third Securities Incorporated

Professionals

  • Cs: (ERR) Harris Freedman & Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (FTSInc) R. Samuel Gilley, Dinsmore & Shohl, Cincinnati, OH. OSC.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

Walk v. UBS Financial

Allegation II

Suitability

Forum

FINRA

Allegation III

Supervision

Docket No

20-01787

Products

Options; Margin

Issue Date

2021-08-23

Situs

Baltimore

State

MD

Clmd Compensatory

481.6

Total Amt Awarded

405.0

Compensatory Awarded

300.0

Punitive Damage Awarded

0.0

Attorney Fees Awarded

75.0

* 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 awards one customer damages relating to the alleged misrepresentation by Respondent broker-dealer of its Yield Enhancement Strategy and denies the claims brought by another named customer. Non-Party broker loses his request for expungement of this matter from his CRD record.

Notes

All-Public Panel. Arbitrator Remarks.

Arbitrators

Lawrence E. Dube, Jr., Esq. - Chair; Peter H. Goldberg; Anitra Oluonye

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: Samuel B. Edwards & Ryan S. Cook, Shepherd Smith et al., Houston, TX.
  • Rs: (UBSFSInc) David L. Goldberg, Katten Muchin Rosenman LLP, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Compensatn

Short Caption

The JW Alati Group v. Morgan Stanley

Allegation II

UnjustEnrichment

Forum

FINRA

Allegation III

BreachContract

Docket No

19-00017

Products

NP

Issue Date

2021-08-18

Situs

Detroit

State

MI

Clmd Compensatory

257.0

Total Amt Awarded

0.0

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 group of brokers alleging that Respondent broker-dealer paid a former financial advisor retirement compensation by deducting from the gross revenues of The JW Alati Group despite said financial advisor being ineligible for compensation under the Joint Production Memorandum Agreement lose their claim for damages.

Notes

Panel composition issue.

Arbitrators

Patrick R. Sughroue, Esq. - Chair; Wayne Carl Hallquist; Timothy Guerriero

Broker-Dealers Named

The JW Alati Group; Morgan Stanley Smith Barney LLC

Professionals

  • Cs: (TJWAGp, RA, RB, JMG & ES) David M. Foster, D.M. Foster PC, Farmington Hills, MI.
  • Rs: (MSSBLLC) Miles D. Hart & Johnathan M. Sterling, Saretsky Hart et al., Birmingham, MI. OSC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Lopes v. Fidelity Brokerage

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

19-00372

Products

NP

Issue Date

2021-08-23

Situs

Manchester

State

NH

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 his request for reformation of his Form U5 record.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Robert L. Chase, Esq.

Broker-Dealers Named

Fidelity Brokerage Services LLC

Professionals

  • Cs: (JFL) Dochtor Kennedy & Harris Freedman, AdvlsorLaw LLC, Westminster, CO.
  • Rs: (FBSLLC) David I. Hantman, Bressler Amery & Ross, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Chaney v. LPL Financial

Allegation II

Forum

FINRA

Allegation III

Docket No

20-04058

Products

NP

Issue Date

2021-08-23

Situs

Albuquerque

State

NM

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

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

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Mary Margaret Bush, Esq. - Chair; John J. Fitzpatrick, Jr., Esq.; Gene R. Thornton, Esq.

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: (TRC) James P. Galvin, Galvin Legal PLLC, Decatur, GA.
  • Rs: (LPLFLLC) Jon D. Kaplon, Boston, MA. ISC.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

Wells Fargo v. Eastman

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

19-03776

Products

PromissoryNote

Issue Date

2021-08-18

Situs

Las Vegas

State

NV

Clmd Compensatory

74.2

Total Amt Awarded

85.1

Compensatory Awarded

74.2

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 non-appearing broker is held liable to Claimant broker-dealer for the amount due and owing on a promissory note agreement.

Notes

Arbitrators

Michael John Florio

Broker-Dealers Named

Wells Fargo Clearing Services LLC

Professionals

  • Cs: (WFCSLLC) T.R. Bynum, St. Louis, MO. ISC.
  • Rs: (LOE) None.

TypeDisp

EmployeeMember

Allegation I

Compensatn

Short Caption

Zeng v. Deutsche Bank

Allegation II

BreachContract

Forum

FINRA

Allegation III

Retaliation

Docket No

19-02819

Products

Equity

Issue Date

2021-08-27

Situs

New York

State

NY

Clmd Compensatory

1195.3

Total Amt Awarded

46.2

Compensatory Awarded

46.2

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 prevails on his compensation claim and is awarded compensatory damages against Respondent broker-dealer. However, said broker loses his request for reformation of defamatory information from appearing on his Form U5 record.

Notes

None.

Arbitrators

Joseph J. Arata, Esq. - Chair; Richard W. Cutler, Esq.; Bertrand Charles Sellier

Broker-Dealers Named

Deutsche Bank Securities Incorporated

Professionals

  • Cs: (TTZ) Jonathan S. Sack, Sack & Sack, New York, NY.
  • Rs: (DBSInc) Jill Rosenberg, Orrick Herrington & Sutcliffe, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Monteforte v. Joseph Gunnar

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02713

Products

Equity; Options

Issue Date

2021-08-19

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 expungement of two customer complaints from appearing on his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Susan A. Romano

Broker-Dealers Named

Joseph Gunnar & Company LLC; Brauer & Associates Incorporated

Professionals

  • Cs: (RAM) Tosh Grebenik, Judex Law LLC, Broomfield, CO.
  • Rs: (JG&CLLC) Peter Bon Viso, New York, NY. ISC.
  • Rs: (B&AInc) No-show.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Updegrove v. National Securities

Allegation II

Forum

FINRA

Allegation III

Docket No

20-03146

Products

NP

Issue Date

2021-08-23

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 three customer complaints from appearing on his CRD record.

Notes

Please Note* This matter was administered under the Special Proceedings option for simplified cases. Arbitrator Remarks -- Expungement granted.

Arbitrators

Ira A. Auerbach

Broker-Dealers Named

National Securities Corporation

Professionals

  • Cs: (SLU) Tosh Grebenik, Judex Law LLC, Broomfield, CO.
  • Rs: (NSCorp) Emily A. Hayes, New York, NY. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Arellano v. LPL Financial

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

20-03361

Products

NP

Issue Date

2021-08-13

Situs

Syracuse

State

NY

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 decided to deny a broker's request for reformation of defamatory information from appearing on his Form U5 record finding that said broker failed to establish that the challenged disclosures were defamatory in nature, misleading, inaccurate and/or erroneous.

Notes

Arbitrator Remarks -- Explained Award.

Arbitrators

John Francis Markuns

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: (KJA) Frances Menzer, AdvisorLaw LLC, Westminster, CO.
  • Rs: (LPLFLLC) Tracey Salmon-Smith, Faegre Drinker et al., Florham Park, NJ. OSC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Carvallo v. Park Sutton

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

20-03931

Products

NP

Issue Date

2021-08-25

Situs

New York

State

NY

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

Registered representative loses his request for reformation of defamatory information from appearing on his Form U5 record.

Notes

None.

Arbitrators

Kent L. Benziger, Esq.

Broker-Dealers Named

Park Sutton Advisors LLC

Professionals

  • Cs: (JEC) Dochtor Kennedy & Benjamin Winograd, AdvisorLaw LLC, Westminster, CO.
  • Rs: (PSALLC) Robert A. Giacovas & Christina Dellaporte, Lazare Potter et al., New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

McDonagh v. Raymond James

Allegation II

Forum

FINRA

Allegation III

Docket No

20-04155

Products

Equity; Margin

Issue Date

2021-08-18

Situs

New York

State

NY

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

Three brokers are granted their respective requests for expungement of a customer complaint from appearing on their CRD records.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Richard W. Cutler, Esq.

Broker-Dealers Named

Raymond James & Associates Incorporated

Professionals

  • Cs: (TWM, CWM & DSB) Bruce W. Barnes, B.W. Barnes PA, Safety Harbor, FL.
  • Rs: (RJ&AInc) Robert M. Rudnicki, St. Petersburg, FL. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Hodorov v. Leumi Investment

Allegation II

Forum

FINRA

Allegation III

Docket No

21-00033

Products

MutualFunds

Issue Date

2021-08-19

Situs

New York

State

NY

Clmd Compensatory

Equity

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 Panel awards a registered representative expungement of a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Michael H. DuBoff, Esq. - Chair; Edmund Timothy Donovan; Andrew Robert Kosloff

Broker-Dealers Named

Leumi Investment Services Incorporated

Professionals

  • Cs: (NH) Harry Sherman, Attorney-at-Law, Bal Harbour, FL.
  • Rs: (LISInc) Christopher J. Gawley, New York, NY. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Tansey v. RBC Capital

Allegation II

Forum

FINRA

Allegation III

Docket No

21-00100

Products

MuniSecs

Issue Date

2021-08-18

Situs

New York

State

NY

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 broker is granted expungement of two customer complaints from his CRD record despite the objection of one customer.

Notes

Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Robert E. Anderson, Esq.

Broker-Dealers Named

RBC Capital Markets LLC

Professionals

  • Cs: (RT) Frederic M. Krieger, Murphy & McGonigle, New York, NY.
  • Rs: (RBCCMLLC) Tiana M. Towns, Dorsey & Whitney, Minneapolis, MN. OSC.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

Spartan Capital v. Aviles

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

21-00121

Products

PromissoryNote

Issue Date

2021-08-25

Situs

New York

State

NY

Clmd Compensatory

27.3

Total Amt Awarded

27.3

Compensatory Awarded

27.3

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 to Claimant broker-dealer for the amount due and owing pursuant to a independent contractor agreement and a promissory note.

Notes

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

Arbitrators

Karen Isabel Bedrosian-Richardson

Broker-Dealers Named

Spartan Capital Securities LLC

Professionals

  • Cs: (SCSLLC) Kim M. Monchik, New York, NY. ISC.
  • Rs: (AA) None.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Taylor v. Santander Securities

Allegation II

Defamation

Forum

FINRA

Allegation III

DeclaratoryJudgment

Docket No

19-02669

Products

NP

Issue Date

2021-08-19

Situs

Philadelphia

State

PA

Clmd Compensatory

Equity

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 broker settles his claims against Respondent broker-dealer and is granted his request for reformation of his Form U5 record.

Notes

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

Arbitrators

Diane Ciccone, Esq. - Chair; Joseph J. Dougherty, JD; John T. Hausladen

Broker-Dealers Named

Santander Securities LLC

Professionals

  • Cs: (ET) Jay W. Waldman, Waldman Law Group, Wyomissing, PA.
  • Rs: (SSLLC) N. Nancy Ghabai, Ghabai Law Group LLC, Boston, MA. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Foley v. Janney Montgomery Scott

Allegation II

Forum

FINRA

Allegation III

Docket No

20-02671

Products

DirectInvesmts

Issue Date

2021-08-25

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

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

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Louis P. Wagman

Broker-Dealers Named

Janney Montgomery Scott LLC

Professionals

  • Cs: (PMF) Zachary Morse & Dochtor Kennedy, AdvisorLaw LLC, Westminster, CO.
  • Rs: (JMSLLC) Jill B. Clarke, Philadelphia, PA. ISC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Dabdoub v. Wells Fargo

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

20-01181

Products

Equity; Options; Margin

Issue Date

2021-08-20

Situs

Houston

State

TX

Clmd Compensatory

0.0

Total Amt Awarded

0.0

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

Two customers alleging unsuitable options trading voluntarily dismiss their claims with prejudice against Respondent broker-dealer. Non-Party broker loses his request for expungement of this matter from his CRD record.

Notes

All-Public Panel.

Arbitrators

Thomas A. Martin, Esq. - Chair; G. Maynard Green, JD; Andrea Joan Douglas

Broker-Dealers Named

Wells Fargo Clearing Services LLC dba Wells Fargo Advisors

Professionals

  • Cs: Lance C. Arney, L.C. Arney PC, Houston, TX.
  • Rs: (WFCSLLC) Jeffery D. Rodgers, Wells Fargo Legal Department, St. Louis, MO. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Hamm v. Advantage Capital

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

20-04174

Products

NP

Issue Date

2021-08-16

Situs

Houston

State

TX

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

Claimant broker is granted his request for reformation of his Form U5 record.

Notes

Panel composition issue. Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Allan R. Lazor, Esq.

Broker-Dealers Named

Advantage Capital Corporation

Professionals

  • Cs: (CWH) Brian Luther, FA Expungement LLC, Denver, CO.
  • Rs: (ACCorp) No-show.
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