Facts

Anthony Marcello filed an arbitration claim against GunnAllen Financial and J.P. Turner & Company LLC in relation to his Central Registration Depository records.

CLAIMANT'S CONTENTIONS: Marcello asserted a cause of action for inaccurate reporting on his Central Registration Depository records. Marcello claimed that he provided adequate information to the customer and exercised due diligence in making the recommendation in the investment. Similarly, Marcello claimed that he informed the customer about the risk involved, including possible loss of the entire investment.

RESPONDENTS' CONTENTIONS: J.P. Turner did not oppose the expungement request.

Result

The arbitrator recommended expungement of underlying matter from Marcello's registration records because the customer's claim was false.