Facts

Customer lodged a complaint against claimant in the claimant's Customer Registration Depository record. Claimant sought expungement of the complaint through arbitration.

CLAIMANT'S CONTENTIONS: Claimant contended that the complaint was false, factually impossible, and erroneous. Claimant contended that he recommended and purchased securities for the customer. It was the customer's objective to provide lifetime income for herself, and then to leave a substantial sum to her son. Claimant contended that the customer's son was present for many of the meetings and had the capacity to understand the intricacies of the proposed transactions.

RESPONDENT'S CONTENTIONS: Respondent contended that it took no position as to expungement. The customer was deceased and her son did not participate in the hearing.

Result

The arbitrator found for claimant. The expungement was granted.

Other Information

ARBITRATOR: Milton N. Gross.