Facts

Claimant Mark Clifford Richmond filed an arbitration claim against respondent respondent LPL Financial LLC seeking expungement of customer disputes from his Central Registration Depository record, regarding customer complaints about variable annuities purchased by the customers.

CLAIMANT'S CONTENTIONS: Claimant requested expungement of the underlying arbitration from his CRD records due to the fact that the allegations from the customer claims were factually inaccurate and insubstantial. While the customers claims that claimant misrepresented the annuity and the potential returns it could provide, claimant argued that evidence proved that claimant carefully informed the customers.

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

Result

The arbitrator recommended expungement of all references of the arbitration claim on Claimant's CRD records.