Facts

Charles Schwab & Co. Inc. entered into FINRA arbitration with Keith M. Steel & Anpei Lin, Community Property and Megan Leith Steel relating to Schwab's expungement request of unnamed party Brian Crume's Central Registration Depository record.

CLAIMANT'S CONTENTIONS:
Charles Schwab & Co. Inc. requested expungement for Brian Crume's record relating to underlying arbitration between the parties.

Result

The panel found that Crume was not involved in the alleged investment-related sales practice violations and recommended expungement of all references to the underlying arbitration from Crume's registration records. The evidence did not support a finding that respondents were victims of a securities violation, fraud or improper conduct, or that Crume engaged in such conduct.

Other Information

ARBITRATORS: Laurel Littman Gothelf, Loyd Paxton Derby, and Carlos Richard Magnum FILING DATE: June 3, 2014