* 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 expungement of twelve customer complaints from his CRD record finding that not only were the complaints filed between 1999 and 2003, 21 to 25 years ago but due to the passage of time the settlement documents for these complaints are unavailable for the Arbitrator's review.
* 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 after finding said complaints to be factually impossible and false.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
In this small claims arbitration, a customer alleging that fraud was committed with respect to the execution of her order to purchase MO (Altria) stock loses her case.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. The customer did not request a hearing.
Arbitrators
Robert D. Sussin, Esq.
Broker-Dealers Named
Morgan Stanley
Professionals
Cs: Leon Ozeran, Ozeran Law Offices, Beverly Hills, CA.
Rs: (MSSBLLC) John E. Bersin, E*Trade by Morgan Stanley, Roseville, CA. 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
An Arbitrator explains why he has decided to grant a registered representative's request for reformation of her Form U5 record after finding the termination entry and certain notations contained in the Form U5 to be defamatory in nature and harmful to her career.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
In this small claims arbitration, a customer alleging that Respondent broker-dealer misrepresented her investment in Credit Suisse Velocity shares of gold and silver loses her case.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code.
Arbitrators
Kevin Marcus-Kanesaka aka Kevin Kanesaka
Broker-Dealers Named
E*Trade Securities LLC
Professionals
Cs: Pro se.
Rs: (ETSLLC) John E. Bersin, Jersey City, NJ. ISC.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
A broker is awarded expungement of a customer complaint from his CRD record as well as reformation of the Disclosure Reporting Page(s) associated with Occurrence Number 2157453.
Notes
Arbitrator Remarks -- Expungement and Reformation granted.
Arbitrators
Bryan Lane Berson - Chair; Sandra Wilson; Andrew Ireland
Broker-Dealers Named
NewBridge Securities Corporation
Professionals
Cs: (WL) Tosh Grebenik, Judex Law LLC, Broomfield, CO.
Rs: (NBSCorp) G. Robert Abrams, Boca Raton, 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
A non-appearing broker is held liable to his former employer for the amounts due and owing pursuant to the terms of an executed promissory note agreement.
Notes
Arbitrator Remarks.
Arbitrators
Bryan Lane Berson
Broker-Dealers Named
Stifel Nicolaus & Company Incorporated
Professionals
Cs: (SN&CInc) Alan S. Brodherson, Law Office of A.S. Brodherson, 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
An Arbitrator provides factual background and explains why she has decided to grant a broker's request for expungement of six customer complaints from appearing on his CRD record.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
A Panel denies Claimant broker's request for reformation of her Form U5 record after the customer, who was the subject of the alleged defamatory entry, opposed said relief.
Notes
None.
Arbitrators
Richard S. Zaifert, Esq. - Chair; Douglas Charles Weinstein; Robert William Copeland
Broker-Dealers Named
LPL Financial LLC
Professionals
Cs: (JYJ) Andrew S. May, Hahn Loeser & Parks, Chicago, IL.
Rs: (LPLFLLC) Matthew T. Bohenek, Boston, MA. 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
In this small claims arbitration, an Arbitrator denies a customer's case after finding that said customer failed to prove his damages resulting from Respondent broker-dealer's product not providing real time information that he believed that it should have.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code under the Special Proceeding option. Arbitrator Remarks.
Arbitrators
Eric R. Benton, Esq.
Broker-Dealers Named
Lightspeed Financial Services Group LLC
Professionals
Cs: Pro se.
Rs: (LFSGLLC) James L. Kopecky, Kopecky Schumacher Rosenburg LLC, Chicago, IL. OSC.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
In this small claims arbitration, a customer alleging that he was unable to access funds after Respondent broker-dealer locked his account is awarded compensatory damages.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing.
Arbitrators
Brian James Tagtmeier
Broker-Dealers Named
Moomoo Financial Incorporated
Professionals
Cs: Pro se.
Rs: (MFInc) Cameron S. Matheson, Davis Wright Tremaine LLP, Glen Allen, VA. OSC.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
In this small claims arbitration, a customer alleging that he lost the chance to gain interest and profits on funds he deposited after Respondent broker-dealer restricted access to his account while they conducted a fraud investigation loses his case.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Cs did not request a hearing. Arbitrator Remarks.
Arbitrators
Daniel J. Pagnano, Esq.
Broker-Dealers Named
Charles Schwab & Company Incorporated
Professionals
Cs: Pro se.
Rs: (CS&CInc) Stacey M. Garrett & Lucas E. Garcia, Keesal Young & Logan, Long Beach, CA. OSC.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
An All-Public Panel explains why it has decided to grant Respondent broker-dealers' Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 12504(a)(6)(B) as said broker-dealers were not associated with the securities, account, or conduct in dispute and the customer already released his claims against one named Respondent broker-dealer pursuant to a Release Agreement.
Notes
Pre-Hearing Adjudication -- Full Dismissal. All-Public Panel. Arbitrator Remarks.
Arbitrators
Eric Gad Forster - Chair; Paul E. Dahlman, Esq.; Richard Mathew Greenspan, Esq.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
Broker wins expungement of a customer complaint from his CRD record after the Panel found said request met all three criteria under FINRA Rule 2080 (not involved, factually impossible or clearly erroneous, and false) to award such relief.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Harvey R. Linder, Esq. - Chair; Dexter Thomas Laughlin; Margaret Verdery Little, CFP
Broker-Dealers Named
LPL Financial LLC
Professionals
Cs: (SGP) Daniel D'Costa, D'Costa Law, Hicksville, NY.
Rs: (CUNABSInc) Sandra D. Grannum & Danielle Prebor, Faegre Drinker et al., Florham Park, NJ. OSC.
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