Opinion
Case No. 1:12-mc-61
03-04-2013
SCOTTRADE INC., Petitioners, v. KWAME A. BOATENG, Respondent.
Dlott, C.J.
Bowman, M.J.
REPORT AND RECOMMENDATION
On October 9, 2012, Scottrade, Inc. through counsel filed this action in order to seek the entry of an Order confirming a stipulated award of the arbitrator in the Matter of the Arbitration Between Kwame A. Boateng and Scottrade Inc., Kevin Martin and Danielle Schmidt, FINRA Case No.11-00807. As reflected in the Petition, the Award recommends the expungement of all references to the arbitration from the records of Scottrade, Martin and Schmidt, as those records are maintained by the Central Registration Depository (the "CRD"). (Doc. 1). The petition for summary confirmation of the stipulated FINRA Arbitration Award is supported by appropriate case and statutory authority, as well as by a copy of the Award and a copy of a July 6, 2012 letter from FINRA, waiving the obligation under FINRA Rule 2080 to name FINRA as a party to this federal court action. (Doc. 1, Ex. B).
At the time of initial filing, this matter was incorrectly docketed as a Registration of Foreign Judgment.
Counsel for the Respondent agreed to accept service for Mr. Boateng and does not oppose this Petition. Thus, in light of their prior settlement of this matter and agreement to the proposed expungement Order, Mr. Boateng has not file any response opposing the instant Petition.
Accordingly, IT IS RECOMMENDED THAT:
1. Petitioners' motion for relief (Doc. 1) be GRANTED IN FULL, and that this Court enter an Order summarily confirming the Stipulated FINRA Arbitration Award, including expungement of all references to the underlying arbitration proceedings from the Petitioner's registration records, as maintained by the CRD.
2. That upon entry of the referenced Order, this case be CLOSED.
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Stephanie K. Bowman
United States Magistrate Judge
SCOTTRADE INC., Petitioners,
v. KWAME A. BOATENG, Respondent.
Case No. 1:12-mc-61
Dlott, C.J.
Bowman, M.J.
NOTICE
Pursuant to Fed. R. Civ. P 72(b), any party may serve and file specific, written objections to this Report and Recommendation ("R&R") within FOURTEEN (14) DAYS of the filing date of this R&R. That period may be extended further by the Court on timely motion by either side for an extension of time. All objections shall specify the portion(s) of the R&R objected to, and shall be accompanied by a memorandum of law in support of the objections. A party shall respond to an opponent's objections within FOURTEEN (14) DAYS after being served with a copy of those objections. Failure to make objections in accordance with this procedure may forfeit rights on appeal. See Thomas v. Arn, 474 U.S. 140 (1985); United States v. Walters, 638 F.2d 947 (6th Cir. 1981).