Facts

John Kettmann filed an arbitration claim against Morgan Stanley DW Inc. in relation to customer complaints from his Central Registration Depository records.

CLAIMANT'S CONTENTIONS: Kettman requested expungement of customer complaints from his CRD records. Kettman claimed that both complaints related to the customers' investments in stock that their co-workers had recommended. Kettman contended, that the customers claimed he had recommended the stock, when he did not. Kettman claimed that the customers approached him with the specific purpose of purchasing the stock. However, both customers filed complaints when the stock price dropped.

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

Result

The arbitrator recommended expungement of the complaints because the claims were false. The arbitrator found that Kettman did not recommend the stock, he merely executed the sale that was requested and warned the customers of the risk.