Charles Schwab & Co. Inc. and Kimon P. Daifotis v. Russell D. Brautigam, Russel D. Brautigam Roth Conv. IRA, Andrew M. Clark Designated Beneficiary Plan/TOD, Courtney A. Jay Designated Beneficiary Plan/TOD, Kendal Capaz, Renee Hartmann, Courtney King, Tom L. Poe, Margie Elaine Poe JT TEN, and Robert C. Rose
Published: Mar. 16, 2013 | Result Date: Feb. 26, 2013 | Filing Date: Jan. 1, 1900 |Case number: 12-02820 Arbitration – Expungement
Facts
Charles Schwab & Co. Inc. and Kimon Daifotis filed a complaint against their customers: Russell Brautigam; Russel Brautigam Roth Conv. IRA; Andrew Clark Designated Beneficiary Plan/TOD; Courtney Jay Designated Beneficiary Plan/TOD; Kendal Capaz; Renee Hartmann; Courtney King; Tom Poe; Margie Elaine Poe JT TEN; and Robert Rose. Claimants asserted that erroneous information appeared in the Central Registration Depository records of Daifotis stemming from a separate arbitration claim brought by Respondents in connection with their investment in the Charles Schwab Yield Plus Fund.
Damages
The Complainants sought the expungement of Dafoitis' records.
Result
The FINRA Panel found that Dafoitis was not involved in the investment-related sales practice violation, forgery, theft, misappropriation, or conversion of funds in the underlying arbitration proceedings. Therefore, the Panel recommended the expungement of Dafoitis' records.
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