Facts

Jason Zilveti filed an arbitration claim involving UBS Financial Services Inc. in relation to a customer complaint where the customer invested $1.7 million in three variable annuities using Zilveti's services with UBS Financial.

CLAIMANT'S CONTENTIONS: Zilveti sought expungement of the customer complaint from his Central Registration Depository records. Zilveti contended that the customer did not suffer any financial loss and in fact, gained profits from the investments.

RESPONDENT'S CONTENTIONS: UBS did not oppose the request.

Result

The arbitrator recommended expungement of the complaint and found that the claim, allegation, or information was factually impossible or clearly erroneous and that the claim, allegation or information was false.