The firm’s client is a registered representative of a national broker-dealer which was a Respondent in a FINRA arbitration. Claimants’ alleged causes of action included suitability, failure to disclose risks, and lack of diligence relating to the recommendation of various ARC REITs.
The arbitration claims were settled and our client requested expungement of the customer complaint from his FINRA BrokerCheck report. After two-hearing sessions, which included the presentation of testimony and introduction of 40 exhibits, the Panel determined that all of Claimants’ claims regarding the ARC REITs were “clearly erroneous.” The Panel also recommended the expungement of the customers’ complaint from our client’s FINRA BrokerCheck report.
Denis Dice, the managing partner of WSSLLP’s Philadelphia Office, handled the hearing.
Doug Fogle, an associate, in the WSSLLP’s Philadelphia Office, assisted in the preparation for the hearing.
A copy of the publicly available award is found here.