* 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 Respondent broker-dealer's Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 13206(a) (Six-year Eligibility for Industry Disputes) and grants a broker's request for expungement of two customer complaints from 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
Pursuant to the agreement of the parties, a single Arbitrator has denied Claimant broker's request for expungement of eight customer complaints from appearing on her CRD record.
Notes
Panel composition issue.
Arbitrators
Robert Rosen
Broker-Dealers Named
First Allied Securities Incorporated; LPL Financial LLC
Professionals
Cs: (CMC) Michael Bessette, HLBS Law, Broomfield, CO.
Rs: (FASInc) Jeremy Wooden, Cetera Financial Group, El Segundo, CA. ISC.
Rs: (LPLFLLC) Kelsey L. Vasko, San Diego, 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 she has decided to deny a broker's request for expungement of three customer complaints from her CRD record finding that she had not satisfied the requirements for expungement on grounds of false statements and erroneous claims.
* 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 his CRD record after finding said request met all three criteria under FINRA Rule 2080 for the awarding of expungement relief.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Constance Ellen Boukidis - Chair; Kirtley M. Thiesmeyer, Esq.; Terry Lynn Chambless
Broker-Dealers Named
Crown Capital Securities Limited Partnership
Professionals
Cs: (JLF) Zachary S. Knoblock & Benjamin J. Biard, Winget Spadafora & Schwartzberg LLP, Miami, FL.
* 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 Pro se customer alleging that Respondent broker-dealer failed to pay dividends and froze his account without warning loses his case after the Arbitrator found that he failed to prove his claims.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code under the Special Proceeding option. Arbitrator Remarks.
* 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 two accounts were fraudulently opened without his consent as he was a victim of identity theft and seeking the return of his money along with service of his existing account loses his case against Respondent broker-dealer.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. The Cs did not request a hearing.
Arbitrators
Lynn Hirschfeld Brahin, Esq.
Broker-Dealers Named
Morgan Stanley
Professionals
Cs: Pro se.
Rs: (MSSBLLC) Peter S. Fruin, Maynard Nexsen PC, Birmingham, AL. 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 broker seeking compensation in the form of benefits under the Employment Retirement Income Security Act and severance pay from Respondent broker-dealer and registered representative loses his case.
Notes
None.
Arbitrators
Richard H. Potter, PhD - Chair; Daniel F. Piar, JD; David M. Pierce
Broker-Dealers Named
LPL Financial Holdings Incorporated Severance
Professionals
Cs: (SEN) Bryan L. Tyson, Marcellino & Tyson, Charlotte, NC and Chris Strianese, Strianese Huckert LLP, Charlotte, NC.
Rs: (SRL & LPLFHIncS) Robert Scruggs, LPL Financial, Fort Mill, SC. ISC and Jedd Mendelson & Sarah Fask, Littler Mendelson PC, Philadelphia, PA. 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 awards Claimant registered rep expungement of five customer complaints from appearing on his CRD record involving the Customers purchase of structured notes and auction rate 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
An Arbitrator explains why he has awarded a broker expungement of three customer complaints finding these complaints damage the broker's reputation and are factually inaccurate and should be expunged from 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 customer alleging unsuitability with respect to her purchase of Puerto Rico Bonds and shares of Puerto Rico Closed End Funds and seeking rescission of said investments, settles her claims against Respondent broker-dealer. Non-Party registered representative 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
Eric Ross Cromartie - Chair; Ross B. Russell, Esq.; Rayner Mathias Bettendorf
Broker-Dealers Named
UBS Financial Services Incorporated of Puerto Rico
Professionals
Cs: Scott L. Silver, Silver Law Group, Coral Springs, FL.
Rs: (UBSFSIncPR) Rey F. Medina-Velez, San Juan, PR. ISC. N-Pty
Rs: (VC) Leany P. Prieto-Rodriguez & Roberto C. Quinones-Rivera, McConnell Valdes LLC, San Juan, PR.
* 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
After finding that one named Respondent broker-dealer and one named registered representative engaged in multiple violations of the requirements of both Federal Securities & Exchange Act as well as the Tennessee Securities Act, including consumer fraud, a Panel awards an investor over $1.2 million in total damages (inclusive of treble damages and attorney fees) under the Tennessee Consumer Protection Act Section 47-18-109.
Notes
Big $s. Treble Damages Awarded. Rs Joseph Stone Capital LLC and Palmery Robert Desir were not assessed any portion of the awarded amount. Rs Richfield Orion International Inc. and James Brett Stuart were assessed. Rescission Requested. Sanctions imposed. All-Public Panel. Arbitrator Remarks.
Arbitrators
Avery B. Goodman, Esq. - Chair; Mark A. Myers, Esq.; Kenneth R. Starr, Esq.
Broker-Dealers Named
Joseph Stone Capital LLC; Richfield Orion International Incorporated
Professionals
Cs: Moshe Y. Singer, Law Office of M.Y. Singer, Brooklyn, NY and Michael C. Bixby, Bixby Law PLLC, Pensacola, FL.
Rs: (JSCLLC) David Hirschberg, Wexler Burkhart et al., Garden City, NY. OSC.
Rs: (ROIInc) James Brett Stuart, Chief Operating Officer, Castle Rock, CO. ISC.
Rs: (JBS) No-show.
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