Facts

Demian Fitgerald filed an arbitration claim against Banc of America Investment Services Inc., for the purposes of getting two customer complaints expunged from the Central Registration Depository records.

CLAIMANT'S CONTENTIONS: Claimant contended two customer complaints,needed to be expunged from the CRD records because the complaints were false, clearly erroneous, or the information was incorrect based on FINRA Rule 2080 (b)(1)(A) and Rule 2080 (b)(1)(C). Claimant also contended compensatory damages were owed to claimant as a result of the dispute as well.

RESPONDENT'S CONTENTIONS: Respondent did not address claimant's contentions that requested expungement of the complaints but contended claimant was not owed any compensatory damages and objected to the request.

Result

The Arbitrator recommended the underlying complaints that were registered and maintained by CRD records, be expunged in favor of the claimant since the Arbitrator concluded the complaints were clearly erroneous or false. The Panel determined the complaints could be expunged because one complaint had already been resolved while both complaints were settled all together. The Arbitrator made its determination based on documents and evidence presented by claimant such as his BrokerCheck Report, testimony, and exhibits.

Other Information

ARBITRATOR: Helen M. Blohm.