Facts

Travis Hughes asserted an arbitration claim against respondents AXA Advisors LLC, Investors Capital Corp., and The Equitable Life Assurance Society of the United States, in relation to five customer disputes filed against Hughes.

PLAINTIFF'S CONTENTIONS: Hughes contended that the client complaints were erroneous and all reference to the underlying arbitration should be expunged from his Central Registration Depository. Hughes disputed customer's assertions that he provided unsuitable recommendations for four investments that resulted in $85,000 in damages.

DEFENDANT'S CONTENTIONS: Respondent did not oppose plaintiff's request for expungement.

Result

The arbitrator recommended expungement of all references to the underlying arbitration claim from Hughes' CDR. The arbitrator concluded that customer's complaints for unsuitability were factually impossible. The arbitrator found that client completed a questionnaire that led Hughes to reasonably believe his recommendations were proper under the customers stated goals and risk aversion.