Facts

Albert Alan Aizin filed an arbitration claim against Syndicated Capital Inc. seeking expungement of two customer complaints from his Central Registration Depository records.

CLAIMANT'S CONTENTIONS: Aizin claimed that the underlying complaints were factually impossible or clearly erroneous, and that the underlying complaints were false.

RESPONDENT'S CONTENTIONS: Respondent did not oppose Aizin's attempt to expunge his record and stated it was required to report the underlying complaints to Aizin's record as a matter of FINRA's rules and procedures.

Result

The arbitrator recommended expungement of all references to both customer complaints from Aizin's Central Registration Depository records. The arbitrator found Aizin properly offered his services to a client whose market timing was simply unfortunate, and thus Aizin did no wrong. As to another client, Aizin fully informed the client of the investments that she selected, however, the investments did not work out, and Aizin could not be held liable for any wrongdoing.