* 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 registered representative expungement of a customer complaint from his CRD record despite the objection of the authorized representative of the state securities regulator for the State of California.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Mark R. Lee - Chair; Steven Gerard Goerke, Esq.; George Pinckney Shingler
* 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 Claimant broker-dealers are awarded compensatory damages from a non-appearing registered representative representing the balance due and owing on a Promissory Note Agreement.
* 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 case against Respondent broker-dealer involving his investment in First Trust unit investment trusts. Non-Party broker is granted expungement of this matter from his CRD record.
Notes
This is a Stipulated Award. Arbitrator Remarks -- Expungement granted.
Arbitrators
Mark Allen Bilawsky
Broker-Dealers Named
Morgan Stanley
Professionals
Cs: Kristian P. Kraszewski, Kyros Law Offices, Coral Gables, FL.
Rs: (MSSBLLC) Brandy Fernandez, St. Petersburg, FL. 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 customers settle their case against Respondent member firm involving their placement in its Yield Enhancement Options Strategy. The Panel awards a Non-Party registered representative expungement of this matter from his CRD record.
Notes
This is a Stipulated Award. All-Public Panel. Arbitrator Remarks -- Expungement granted.
Arbitrators
Lee Milich, Esq. - Chair; Richard Kuper, Esq.; Marvin S. Lava, Esq.
Broker-Dealers Named
UBS Financial Services Incorporated
Professionals
Cs: Jeffrey Erez, Erez Law PLLC, Miami, FL.
Rs: (UBSFSInc) David I. Hantman, Bressler Amery & Ross, New York, NY. OSC.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
A customer alleging that Respondent broker-dealer made unsuitable investment recommendations in violation of regulation best interest is awarded compensatory damages.
Notes
Regulation Best Interest. All-Public Panel.
Arbitrators
Nanci Sondra Landy - Chair; Richard Carl Smukler; Robert G. Geeseman, Esq.
Broker-Dealers Named
Hennion & Walsh Incorporated
Professionals
Cs: Pro se.
Rs: (H&WInc) Jennifer Woods Burke, Parsippany, NJ. OSC.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
An Arbitrator dismisses a customer's case without prejudice as a sanction pursuant to FINRA Rule 12212(c) (Discovery) as he failed to comply with her Orders regarding proof of adequate service of his Statement of Claim upon Respondent broker-dealer.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing. Pre-Hearing Adjudication -- Full Dismissal. Sanctions imposed. Arbitrator Remarks.
Arbitrators
Erika Deutsch Rotbart
Broker-Dealers Named
Phoenix American Financial Services Incorporated aka Delta Financial Distributors Incorporated
Professionals
Cs: Pro se. Previously represented by: Robert D. Loventhal, RDL Law Group LLC, Lake Forest, IL until 1/31/25.
* 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 investors alleging that due to Respondent broker-dealer's failure to follow their instructions regarding the initiation of a deposit/withdrawal at custodian transfer to convert their ASX:CBR shares to NASDAQ:CREV shares they suffered principal and capital gains losses lose their case.
Notes
All-Public Panel.
Arbitrators
Stuart D. Summers - Chair; Lisa Gaines McDonald; Thomas Allen Rieck
Broker-Dealers Named
Fidelity Brokerage Services LLC
Professionals
Cs: Jason T. Albin & Philip L. Vujanov, ChapmanAlbin LLC, Cleveland, OH.
Rs: (FBSLLC) Sean J. Coughlin & 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 selling away case, an All-Public Panel grants Respondent broker-dealer's Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 12504(a)(6)(b) (not associated with the securities, account, or conduct in dispute) after finding that Claimants were not customers of Respondent and the investment at issue was a purchase made in their IRA accounts held at another firm.
* 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 (father and son) are awarded expungement of various customer complaints from their CRD records involving the purchase of Puerto Rican securities.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
A Panel grants a broker's request for expungement of a customer complaint from appearing on his CRD record after finding that said request met all three criteria under FINRA Rule 2080 (A), (B), and (C).
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Michael A. Orticelle - Chair; Hon. Michael S. Jordan; Geoffrey A. Drucker
* 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-dealer is awarded damages against Respondent broker relating to the amounts due and owing on a promissory note agreement he signed and that immediately became due upon his resignation of employment.
Notes
Arbitrator Remarks.
Arbitrators
Michael S. Matek, Esq.
Broker-Dealers Named
Wells Fargo Clearing Services LLC
Professionals
Cs: (WFCSLLC) Stephen J. Steinlight, Troutman Pepper et al., New York, NY. OSC.
Rs: (SAR) Victor Bayata, Bayata Law PLLC, Green Bay, WI.
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