Facts

Matt Ward filed an arbitration claim against Euro Pacific Capital Inc. and Maxwell Capital Inc. in relation to three customer complaints on his Central Registration Depository records.

CLAIMANT'S CONTENTIONS: Ward requested the three underlying customer complaints be expunged from his Central Registration Depository records. Ward claimed that although the customers who filed the complaints may have sustained losses on their investments, he made them aware of the risks of their investments and did not commit any wrongdoing. Ward alleged the customers' complaints were meritless, and for two of the three complaints, he suspected Maxwell Capital's management chose to settle rather than dispute the complaints to keep the customers' business.

RESPONDENTS' CONTENTIONS: Respondents did not oppose Ward's expungement request and did not appear at the evidentiary hearing.

Result

The arbitrator recommended the expungement of all reference to the underlying customer complaints from Ward's Central Registration Depository records. Specifically, the arbitrator found Ward was not involved in the alleged investment-related sales practice violation, forgery, theft, misappropriation, or conversion of funds.