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UBS Financial Services Inc. (“UBS Financial Services”) (CRD# 8174) has many different complaints filed by FINRA (Financial Industry Regulatory Authority), state regulatory organizations, and investors such as yourself. At the Law Offices of Robert Wayne Pearce, we have investigated UBS Financial Services, its regulatory and customer complaints, and have also represented investors with claims of fraud, negligence, and breach of fiduciary duty against this organization and its financial advisors.

If you believe you have a claim against UBS Financial Services, you should strongly consider hiring an investment fraud lawyer. You should not wait until it’s too late to file a claim. The Law Offices of Robert Wayne Pearce, P.A., offers free consultations. Give us a call at 800-732-2889. Let’s discuss your case and see what we can do to help you get the compensation you need and deserve.

Can I Sue UBS Financial Services?

If you’ve lost money caused by UBS Financial Services and/or its employees’ misconduct then the answer is, YES, you can sue UBS Financial Services but the odds are you signed away your right to sue in court and agreed to resolve your dispute in a FINRA arbitration proceeding. Attorney Robert Wayne Pearce has over 40 years of personal experience in FINRA arbitration proceedings and knows very well how you can not only sue UBS Financial Services in FINRA arbitration proceedings, but WIN that arbitration. The easiest way to know if you have a viable case against UBS Financial Services is to call Attorney Pearce at our office at 800-732-2889.

Investment Losses? We Can Help

Discuss your legal options with an attorney at The Law Offices of Robert Wayne Pearce, P.A.

Get A Free Consultation

or, give us a ring at (800) 732-2889.

Robert Pearce

What is UBS Financial Services?

UBS Financial Services (CRD# 8174) is a registered broker-dealer. It operates as a full-service independent broker-dealer, providing a range of financial products and services to individual investors and financial advisors.

As a registered broker-dealer, UBS Financial Services is subject to regulations and oversight by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). It is required to comply with industry standards and regulations to ensure the protection of its clients’ interests.

A failure to comply with industry standards by either its brokers or the firm itself can result in disciplinary actions, fines, or other penalties imposed by regulatory authorities.

UBS Financial Services Has Many Different Regulatory Problems 

UBS Financial Services’ rapid growth has not been without consequences. There have been approximately 469 state and self-regulatory body disclosure events; that is, final and formal proceedings initiated by a regulatory authority (e.g., a state or federal securities agency like the U.S. Securities and Exchange Commission (SEC) or self-regulatory body like the Financial Industry Regulatory Authority (FINRA) for a violation(s) of investment-related rules or regulations. In addition, there have been hundreds of customer complaints filed against UBS Financial Services for misconduct by its securities sales and investment advisory representatives that are not reported by the firm on its Central Depository Record. 

We have reported and written about these regulatory problems and customer complaints over many years. UBS Financial Services is a repeat offender: there are over 469 FINRA-reported disciplinary proceedings citing the firm with one form of supervisory lapses or another.

A Brief Overview of Some of the Regulatory Problems UBS Financial Services Has Faced Over the Years*

UBS Financial Services has been repeatedly censured, warned, and fined multi-millions of dollars for its own misconduct and failure to supervise its army of financial advisors.* A few of the notable FINRA Sanctions for its Supervisory Failures are below:

Massive Fines, Awards Against UBS Financial Services

Brief Overview: John Maccoll, a registered representative of UBS Financial Services, embezzled over $3.7 million from more than a dozen customers between April 2010 and March 2018. The Securities and Exchange Commission filed charges against Maccoll, highlighting his use of “high pressure sales tactics” to deceive elderly and retired customers into investing in a fraudulent private fund. Maccoll pleaded guilty to wire fraud and received a nine-year prison sentence. The case shed light on UBS Financial Services’ supervisory failures and its failure to safeguard customers’ investments.

$8 Million Penalty over ETN Trades

Brief Overview: In July 2021, UBS Financial Services was ordered to pay an $8 million penalty by the Securities and Exchange Commission for its failure to supervise sales of iPath S&P Short-Term Futures ETN (VXX). The SEC found that UBS advisors held VXX products in customer accounts for extended periods, including hundreds of accounts that held the product for over a year. UBS advisors’ flawed understanding of the appropriate use of volatility-linked ETPs resulted in significant losses for customers. The SEC emphasized the importance of advisory firms protecting clients from inappropriate investments in complex financial products.

$9 Million Award in Puerto Rico Bond Complaint

Brief Overview: UBS Financial Services extended a “non-purpose” loan of $8 million to a customer named Luis Romero Lopez, allowing him to invest in closed-end Puerto Rico bond funds. When the Puerto Rico bond market experienced a downturn, Lopez’s account balance plummeted, resulting in substantial losses. A FINRA panel found that UBS violated federal regulations and ordered the firm to pay Lopez $7.9 million in compensatory damages and $1 million in punitive damages.

$18.5 Million Penalty Over Puerto Rico Bonds

Brief Overview: In 2015, FINRA fined UBS Financial Services $18.5 million in fines and restitution over unsuitable Puerto Rico closed-end bond fund transactions. The firm failed to supervise bond transactions and neglected to monitor leverage and concentration levels in customers’ investments. UBS was aware of the unique circumstances surrounding Puerto Rico bond investments but did not take adequate steps to ensure suitability. The market downturn resulted in substantial losses for customers, particularly those who had opened lines of credit collateralized by highly concentrated accounts. UBS was ordered to pay $7.5 million in fines and $11 million in restitution.

$15 Million Penalty over Unsuitable Reverse Convertible Notes

Brief Overview: UBS faced charges from the SEC for its failure to train salespeople adequately in selling reverse convertible notes (RCNs) to retail investors. The firm made unsuitable recommendations of RCNs to thousands of customers, resulting in significant losses. UBS agreed to a settlement with the SEC, paying over $9 million in disgorgement and a $6 million penalty. The case highlighted the importance of firms ensuring their financial advisors comprehend the risks and rewards of complex financial products when recommending them to investors.


*Above are only some of the regulatory disciplinary actions filed against UBS Financial Services by FINRA. NASSA and other state securities regulator investigations and enforcement actions account for another 469 BrokerCheck disclosures.

UBS Financial Services Customer Complaints

There have been scores of customer complaints filed against UBS Financial Services stockbrokers and investment advisors over the years. We have launched many investigations of current and former UBS Financial Services advisors:

  1. Nicholas Finn of UBS Financial Securities, Inc.
  2. Adam Epstein of UBS Financial Services INC
  3. Donald Dever of UBS Financial Services Inc.
  4. Eladio Santiago of Cambridge Investment Research, Inc
  5. John Torres of J.P. Morgan Securities LLC
  6. Mark Zeller of UBS Financial Services Inc.
  7. Nancy Glassman of Morgan Stanley
  8. Ortal Shacar of UBS Financial Services Inc
  9. Simon Clarke of UBS Financial Services Inc
  10. Stephen Ferencik of Arkadios Capital
  11. Todd Perry of UBS Financial Services Inc.
  12. Russell Rabito of UBS Financial Services Inc.
  13. Richard Bernstein of Wells Fargo Clearing Services, LLC
  14. Wendy Holmes of UBS Financial Services Inc.
  15. William Shreve of UBS Financial Services Inc.
  16. Chad Allen of Oppenheimer & Co. Inc.
  17. Cary Moskowitz of UBS Financial Services Inc.
  18. Cory Williams of Taylor Capital Management Inc
  19. Giustino Destefano of Securities America, Inc.
  20. Dervinder Singh of Equitable Advisors
  21. Julian Gingold formerly with UBS Financial Services
  22. David Fenning of Morgan Stanley
  23. Jeffrey Fladell of RBC Capital Markets, LLC
  24. Robert Cohen of Stifel Nicolaus Company
  25. Wilson Colberg-trigo of First Southern
  26. Dawn Coleman-Hyman of Pruco Securities
  27. Jennifer Broderick of UBS Financial Services Inc.
  28. Melinda Abood of UBS Financial Services
  29. Ibrahim Arce of UBS Financial Services
  30. Ajay Gupta Formerly With UBS Financial Services Inc.
  31. Alan Beugg of Purshe Kaplan Sterling Investments
  32. Armani Miller of J.P. Morgan Securities LLC
  33. Ayad Amary of TIAA-CREF Individual & Institutional Services, LLC
  34. Brent Lane of UBS Financial Services Inc.
  35. Brett Whitten of UBS Financial Services Inc.
  36. Brian Lineberger of UBS Financial Services Inc.
  37. Brian Mulvey formerly with UBS Financial Services, Inc.
  38. Brian Allen of Raymond James Financial Services, Inc.
  39. Andrew Ruboyianes of UBS Financial Services
  40. Frederick Stortecky of GWN Securities
  41. Louis Taylor of Wells Fargo Clearing Services
  42. Greg Thogersen of UBS Financial Services
  43. Roy Tonning of UBS Financial Services
  44. Winston Turner Formerly With Pruco Securities
  45. Joseph Valdini Formerly With Aegis Capital
  46. Derek Vance of UBS Financial Services
  47. Daniel Torroba of UBS Financial Services
  48. Felipe Vargas of Insigneo Securities
  49. James Watson of Wells Fargo Clearing Services
  50. Jay Weil formerly with Cambridge Investment Research
  51. George Merhoff of Cetera Advisors
  52. Gerard Joesph Costello of UBS Financial Services, Inc
  53. Gabriel Block of First Standard Financial Company, LLC
  54. Roderick Von Lipsey of UBS Financial Services, Inc
  55. Shlomo Strugano of First Allied Securities, Inc and formerly with Kovack Securities
  56. Luis Rosario of Oppenheimer & Co. Inc
  57. John Bankhead of Morgan Stanley
  58. Eric Wittenberg of UBS Financial Services Inc
  59. Jason Dworak of UBS Financial Services, Inc
  60. Jeffrey Goodstein of Morgan Stanley
  61. James Kelly of UBS Financial Services, Inc
  62. Douglas Domian of UBS Financial Services
  63. Kelley Edwards of UBS Financial Services
  64. Andrew Kahner of UBS Financial Services
  65. Timothy Kenska of Citigroup Global Markets
  66. Ricardo Guimaraes of Morgan Stanley
  67. Jeremy Keller of UBS Financial Services
  68. Marc Laborde of Rockefeller Financial
  69. Franklin Laden of UBS Financial Services
  70. Matthew Lasko of UBS Financial Services
  71. Whittaker Mack of J.P. Morgan Securities
  72. John Loehr of Edward Jones
  73. Jon Thompson of CUNA Brokerage Services
  74. Steven Torrico of UBS Financial Services
  75. Ann Trainor of UBS Financial Services
  76. Gary Vance of UBS Financial Services
  77. Teresa Mathies of Edward Jones
  78. Bryan Mazliach Formerly With WestPark Capital
  79. Gary McDaniel of Fidelity Brokerage Services
  80. Teena Milldebrandt of Cetera Advisor Networks
  81. Shaun Mutch of UBS Financial Services
  82. John Neal of Vanguard Marketing
  83. Shailesh Negandhi of UBS Financial Services
  84. Jonathan Penta formerly with Purshe Kaplan Sterling Investments
  85. Taylor Powell of DFPG Investments
  86. Vicente del Rio of UBS Financial Services
  87. Shelsey Robertson of UBS Financial Services
  88. Adam Rogers of UBS Financial Services
  89. Melinda Abood of UBS Financial Services
  90. James Small Of Morgan Stanley
  91. Stuart Spence Formerly With UBS Financial Services
  92. Bernie Townes Of Janney Montgomery Scott
  93. Anthony Sica of Joseph Gunnar & Co.
  94. Stuart Sierer of UBS Financial Services
  95. Dwight West of UBS Financial Services
  96. James Abernethy of UBS Financial Services
  97. Amr Aboulmagd formerly with NYLIFE Securities
  98. Samuel Humphreys of UBS Financial Services
  99. Joshua Adler Of Merrill Lynch Pierce Fenner & Smith
  100. Ricardo Armijo of Raymond James Associates
  101. Brian Ballard of UBS Financial Services
  102. Nicolas Barrios Formerly With UBS Financial Services
  103. Joseph Bergamo Of UBS Financial Services
  104. Brian Blackburn of UBS Financial Services
  105. Lary Bloom of Wells Fargo Clearing Services
  106. Joshua Breeden of UBS Financial Services
  107. Roger Ingwersen of Purshe Kaplan Sterling Investments
  108. Anthony Brookfield of UBS Financial Services
  109. Ray Burns of UBS Financial Services
  110. Jeffrey Burton of Wells Fargo Advisors Financial Network
  111. Michael Carelli of UBS Financial Services
  112. Michael Charles of Craft Capital Management
  113. Margareta Childs Formerly With Western International Securities
  114. Doron Kochavi of Western International Securities
  115. Jonathan Lake of Wells Fargo Clearing Services
  116. Harold Langer of RBC Capital Markets
  117. Timothy Millis of NYLIFE Securities
  118. Michael Ovitt of RBC Capital Markets
  119. Regina Onkst of Ameriprise Financial Services
  120. Mike Persia of UBS Financial Services
  121. Brant Ferguson of UBS Financial Services
  122. Vincent Fiorentino of Wells Fargo Clearing Services
  123. Gregory Foster of UBS Financial Services
  124. John Fulton of UBS Financial Services
  125. John Kellar of Wells Fargo Advisors Financial Network
  126. William Kessler of Founders Financial Securities
  127. John Davis of Raymond James Financial Services
  128. John Davenport of Liberty Partners Financial Services
  129. Ajay Desai of UBS Financial Services
  130. Douglas Digiorno of UBS Financial Services
  131. Brian Donaldson of UBS Financial Services
  132. Gregory Eknoyan of UBS Financial Services
  133. Daniel Egbert of UBS Financial Services
  134. Patrick Donnelly of Raymond James Financial Services
  135. Christopher Hibbard formerly with Merrill Lynch Pierce Fenner & Smith
  136. John Hoekman formerly with Wells Fargo Clearing Services
  137. Matthew Hoffman of J.P. Morgan Securities
  138. Bradley Hyldahl of UBS Financial Services
  139. Javier Jaramillo of Morgan Stanley
  140. Clifford Virgin of UBS Financial Services
  141. Matthew Lane of RBC Capital Markets
  142. Paul Koch of RBC Capital Markets
  143. Neil Konigsberg of UBS Financial Services
  144. Tod Lenhoff formerly with Madison Avenue Securities
  145. Howard Leon of Newbridge Securities
  146. Andrei Livadariu of Oppenheimer & Co.
  147. John Loughran of UBS Financial Services
  148. Janet Marcantonio of UBS Financial Services
  149. Michael Margiotta of Merrill Lynch Pierce Fenner & Smith
  150. Barry Mitchell of UBS Financial Services
  151. Heather Molin of UBS Financial Services
  152. Robert Mueller of UBS Financial Services
  153. Emily Nikoloudis of Purshe Kaplan Sterling Investments
  154. Jack McBride of B. Riley Wealth Management
  155. Peter McColgan of Wells Fargo Clearing Services
  156. Jagrup Parihar of NYLIFE Securities
  157. Robert Perlman of UBS Financial Services
  158. Alexander Phillips of UBS Financial Services
  159. Michael Robertson of Morgan Stanley
  160. Massimo Romano of Wells Fargo Clearing Services
  161. Peter Rukeyser of UBS Financial Services
  162. William Rose of UBS Financial Services
  163. Bradley Rubin of UBS Financial Services
  164. Robert Schultz of Wells Fargo Clearing Services
  165. John Sommo Formerly With UBS Financial Services
  166. Steven Seimears of Ameriprise Financial Services
  167. Shay Scruggs of Rockefeller Financial
  168. Bradley Renberg of Ameriprise Financial Services
  169. Mark Sullivan of UBS Financial Services
  170. Steven Syslo of UBS Financial Services
  171. John Weber of Wells Fargo Advisors Financial Network
  172. David Wehrman of UBS Financial Services
  173. Alexander Williams of UBS Financial Services
  174. Wesley Wong of Wells Fargo Advisors Financial Network
  175. Brian Wurdemann of RBC Capital Markets
  176. John Young of UBS Financial Services
  177. Billy Allen formerly with Legend Equities
  178. Adam Brinkley of UBS Financial Services
  179. Benjamin Brown of UBS Financial Services
  180. Christopher Burtraw formerly with J.P. Turner & Company
  181. Jason Bourgo of Ameriprise Financial Services
  182. Michael Brooks of BB&T Securities
  183. Michael Cormier of RBC Capital Markets
  184. Kathryn Cosgrove of Goldman Sachs & Co.
  185. Afifa Yusof formerly with Edward Jones
  186. Tonya Rice Of UBS Financial Services
  187. Chris Billingsley of UBS Financial Services Inc.
  188. Christiane Olsen of UBS Financial Services Inc.
  189. Joshua Breeden of UBS Financial Services
  190. Rachel Gottlieb of UBS Financial Services
  191. Alejandro Gonzalez of UBS Financial Services Inc.
  192. Charlene Causey of UBS Financial Services Inc.
  193. Aaron Vilfordi of Ameriprise Financial Services, LLC
  194. Carlos Abad formerly with TFS Securities, Inc.
  195. Andrew Ortiz formerly with UBS Financial Services Inc.
  196. Allan Klenke of Morgan Stanley
  197. Blair Cannon of UBS Financial Services Inc.
  198. Rachel Gottlieb of UBS Financial Services
  199. Bradd Cuppels of UBS Financial Services Inc.
  200. Alexander Ladage of UBS Financial Services Inc.
  201. Luis Garcia Formerly With UBS Financial Services
  202. Charles Lawson of UBS Financial Services Inc.
  203. Charles Davis of Allstate Financial Services, LLC
  204. Christopher Black of UBS Financial Services Inc.
  205. Christopher Weng of Raymond James & Associates, Inc.
  206. Christopher Marmion of UBS Financial Services Inc.
  207. Cole Mills of LPL Financial LLC
  208. Cory Durham of UBS Financial Services Inc.
  209. Crystaline Kopriva of UBS Financial Services Inc.
  210. Cynthia Farnsworth of Ameriprise Financial Services, LLC
  211. Dale Emerick of UBS Financial Services Inc.
  212. Damian Hedley of UBS Financial Services, Inc.
  213. Daniel Torres formerly with Wells Fargo Clearing Services, LLC
  214. David Obolensky of UBS Financial Services Inc.
  215. Denis Roy of UBS Financial Services Inc.
  216. Dennis Oleszkowicz of UBS Financial Services Inc.
  217. Dominic Palmisano of UBS Financial Services Inc.
  218. Don Henry formerly with TIAA-CREF Individual & Institutional Services, LLC
  219. Douglas Massey of UBS Financial Services, Inc.
  220. Eric Moreno of UBS Financial Services Inc.
  221. Eric Yamin of Morgan Stanley and formerly with UBS Financial Services, Inc.
  222. Fernando Gonzalez UBS Financial Services Inc.?
  223. Francis Amsler of Rockefeller Capital Management
  224. Frank Moore with UBS Financial Services Inc.
  225. Frederick Long of UBS Financial Services Inc.
  226. Furman Sheppard of UBS Financial Services Inc.
  227. Garth Allan of UBS Financial Services Inc.
  228. George Vilfordi III of Ameriprise Financial Services, LLC
  229. German Nino formerly with UBS Financial Services Inc.
  230. Gerald McGinley UBS Financial Services Inc.
  231. Ghislain Gouraige, Jr. Of New Edge Wealth
  232. Gerard Melley of UBS Financial Services Inc.
  233. Glenn Childres of UBS Financial Services Inc.
  234. James Beste of Ameriprise Financial Services
  235. Henry Hernandez of UBS Financial Services Inc.
  236. Henrique Lucena of Laidlaw & Company (UK) Ltd.
  237. Henry Jakobsze of UBS Financial Services Inc.
  238. Henry Goodman Formerly With UBS Financial Services Inc.
  239. Horacio Gomez-Rabago of Oppenheimer & Co. Inc.
  240. Jaime Casellas formerly of Santander Securities LLC
  241. James Sheehan of Raymond James & Associates Inc.
  242. James Garner of Raymond James & Associates, Inc.
  243. James Springer of Stifel, Nicolaus & Company, Incorporated
  244. James Lacey, Jr of Morgan Stanley
  245. Jared Kaplan of NewEdge Securities, Inc.
  246. Javier Naselli of UBS Financial Services Inc.
  247. Javier Estremera of Merrill Lynch, Pierce, Fenner & Smith Incorporated
  248. Jeffrey Cadan formerly with Morgan Stanley
  249. James McKinney, formerly with Cetera Advisors LLC
  250. Jeremy Shull of UBS Financial Services Inc.
  251. John Brunello of UBS Financial Services Inc.
  252. Jerry McCutchen, Sr of Berthel, Fisher & Company Financial Services, Inc.
  253. Jesse Fable of UBS Financial Services Inc.
  254. John Rogers of UBS Financial Services Inc.
  255. John Palmer-Kamprath of UBS Financial Services Inc.
  256. Jorge Pesquera formerly with UBS Financial Services Inc.
  257. Jose Rios of Nationwide Planning Associates Inc.
  258. Jose Garcia-Talavera formerly with UBS Financial Services Inc.
  259. Jose Ramirez, Jr. formerly with UBS Financial Services Inc.
  260. Jose Cornide, Jr. formerly with UBS Financial Services Inc.
  261. Joseph Whitney formerly with Wedbush Securities Inc
  262. Juan E. Goytia of UBS Financial Services Inc.
  263. Karleen Halliwell of UBS Financial Services Inc.
  264. Kathleen Entwistle of Morgan Stanley
  265. Kirk Badii of Independent Financial Group, LLC
  266. Kimberly Gillen of UBS Financial Services Inc.
  267. Kevin Wright of Rockefeller Financial LLC
  268. Luis Garcia formerly with UBS Financial Services Inc.
  269. Marc Ridell of UBS Financial Services Inc.
  270. Mark Redden of UBS Financial Services Inc.
  271. Mark Burns of LPL Financial LLC
  272. Marshall Hagen formerly with UBS Financial Services Inc.
  273. Marvin Vick formerly with Commonwealth Financial Network
  274. Matthew Buchsbaum of UBS Financial Services Inc.
  275. Michael Nichley of UBS Financial Services Inc
  276. Michael Douvadjian of Morgan Stanley
  277. Michael Pasquariello formerly with UBS Financial Services Inc.
  278. Michael Saunders formerly with Ameriprise Financial Services, Inc.
  279. Michael Yochum of UBS Financial Services Inc.
  280. Miguel Hernandez of UBS Financial Services Inc.
  281. Mike Mumford of UBS Financial Services Inc.
  282. Morey Perlmutter of UBS Financial Services Inc.
  283. Ned Pascucci of 1st Discount Brokerage, Inc.
  284. Neil Fineman formerly with First Allied Securities, Inc.
  285. Nicholas Catania of UBS Financial Services Inc.
  286. Paul Platek of UBS Financial Services Inc.
  287. Paul Haberek, Jr. of Wells Fargo Clearing Services, LLC
  288. Pauline Chu of UBS Financial Services Inc
  289. Peter Wagner of Oppenheimer & Co. Inc.
  290. Ralph Jackson, III of Morgan Stanley
  291. Rafael Comba of UBS Financial Services Inc.
  292. Ramiro Colon III of ACP Securities, LLC
  293. Randall Berns of UBS Financial Services Inc.
  294. Richard Ristau of UBS Financial Services Inc.
  295. Richard Dellarusso of UBS Financial Services Inc.
  296. Richard Held of UBS Financial Services Inc.
  297. Robert Gordon-Brown of UBS Financial Services Inc.
  298. Robert Spina of UBS Financial Services Inc.
  299. Robert Turner, Jr. formerly with Stifel, Nicolaus & Company, Incorporated
  300. Robert Donovan of UBS Financial Services Inc.
  301. Robert Lapetina of Nationwide Planning Associates Inc.
  302. Roxann Romano of Morgan Stanley
  303. Ruse Brown of UBS Financial Services Inc.
  304. Schuyler Grey, III of Morgan Stanley
  305. Scott Merrill formerly with UBS Financial Services Inc.
  306. Scott Murray of UBS Financial Services Inc.
  307. Sherry Rowland of UBS Financial Services Inc.
  308. Sonia Attkiss of UBS Financial Services Inc.
  309. Steven Westerman of UBS Financial Services Inc.
  310. Thomas Sullivan, Jr. formerly with UBS Financial Services Inc.
  311. Thomas Swan of Western International Securities, Inc.
  312. Victor Tomassini of UBS Financial Services Inc.
  313. Walter Brady, Jr. of J.P. Morgan Securities LLC
  314. William Huthnance of UBS Financial Services Inc.
  315. Xavier Aguayo Diaz of UBS Financial Services Inc.
  316. Zachary Hansen formerly with UBS Financial Services Inc.
  317. David Carlson of UBS Financial Services Inc.
  318. Michael Eustace of UBS Financial Services Inc
  319. Maria Gasparro of UBS Financial Services Inc.
  320. Marc Haggar of UBS Financial Services Inc.
  321. Gretchen Hargroder of UBS Financial Services Inc.
  322. Frederick Kort formerly with UBS Financial Services, Inc.
  323. Thomas Livaccari of UBS Financial Services Inc.
  324. Alfonso Boneta of Merrill Lynch, Pierce, Fenner & Smith Incorporated
  325. Frank Carrasco of UBS Financial Services Inc.
  326. Clinton Moore of UBS Financial Services Inc.
  327. Paul Murans of Thurston Springer Financial
  328. Nichole Adams of UBS Financial Services Inc.
  329. Dimitri Rassias of UBS Financial Services Inc.
  330. Richard Gibbs of UBS Financial Services Inc.
  331. Thomas Stiller UBS Financial Services Inc.
  332. Joseph Katzaroff of UBS Financial Services Inc.
  333. Michael Lundon of UBS Financial Services Inc.
  334. Alexis Molina of UBS Financial Services Inc.
  335. Jason Pirnie formerly with UBS Financial Services Inc.
  336. Arthur Randall, III of UBS Financial Services Inc.
  337. Scott Rosenberg of UBS Financial Services Inc.
  338. Raymond Samuels of Fidelity Brokerage Services LLC
  339. John Seiber of UBS Financial Services Inc.
  340. Stephen Seiber of UBS Financial Services Inc.
  341. Jason Stephens of UBS Financial Services Inc.
  342. Taylor Thompson of UBS Financial Services Inc.
  343. Paul Addo, III of UBS Financial Services Inc
  344. David Ciprich of UBS Financial Services Inc.
  345. John Klaasen, IV of UBS Financial Services Inc.

If you have lost money investing with any of these UBS Financial Services advisors or others within this brokerage firm, it’s important that you reach out to an investment loss attorney quickly because the statutes of limitations can bar your claims. Call us at 800-732-2889.

Why Does UBS Financial Services Have So Many Regulatory Problems And Customer Complaints?

Independent broker-dealers are notorious for their lax supervisory practices and procedures. The business model of these franchise type operations is to open many offices nationwide for steady growth of fixed monthly revenues without the costs attendant to a full-service branch office with on-site manager, compliance officer and operation personnel. The registered representatives of these independent broker-dealers generally operate as separately incorporated businesses. They are not employees of the broker-dealer and therefore not controlled in the same manner as full-service brokerage firm representatives. The registered representatives control their structure and costs to maximize profits and often leave the protection of investors’ rights and interests as their lowest priority.

The typical supervisory organization of independent broker-dealer operations is to have other independent contractors operate Offices of Supervisory Jurisdiction (OSJs) to monitor the registered representatives from geographically remote offices and then report to the main franchisor’s compliance office at national headquarters. The supervisors at the OSJs are not employees of the franchisor and often run their own brokerage, insurance and other businesses. They are not devoted full-time supervisors of the smaller branch offices. Consequently, OSJ managers cannot and do not supervise the day-to-day operations of the registered representatives of these Independent broker-dealers. 

Generally, there is no immediate review of new accounts opened, securities transactions, business records, cash or securities receipts and deliveries, correspondence and business activities unrelated to the securities brokerage operation at these independent brokerage firms. The lax supervision leaves investors who have transferred their accounts to the smaller independent broker-dealer vulnerable to sales of securities that have not been reviewed or authorized by anyone other than the sales representative earning a commission. There may be no one onsite to detect forgeries of clients’ signatures on documents, the placement of inaccurate information about a client’s investment objectives and financial condition to document the suitability of a particular investment recommendation. Oftentimes there is no daily review of sales literature and client correspondence to protect against misrepresentations and misleading statements being made to investors. In fact, it is not unusual for there to be only one compliance audit visit per year at many of these offices.

These Independent brokerage business operations are worrisome to the North American Securities Administrators Association (NASAA), which has documented more instances of sales abuse and consequently investor losses at these firms than the traditional brokerage firms with branch offices with on-site managers and compliance personnel.

Did UBS Financial Services Advisor Misconduct Cause You Investment Losses?

When financial advisor misconduct has caused you to lose substantial value to your investment accounts, you have the right to seek reimbursement from the responsible parties. UBS Financial Services is responsible like any employer for its financial advisors acts and omissions. In addition, it has an independent duty to supervise its stockbrokers and investment advisors. These cases can be extremely complex, and so having the support of a reputable attorney who is experienced in recovering investment losses for investors is key to your success. Many customers make the mistake of contacting UBS Financial Services without representation with an attorney about their complaints and have their complaints denied.

Related Read: Can You Sue Your Brokerage Firm?

Investment Losses? We Can Help

Discuss your legal options with an attorney at The Law Offices of Robert Wayne Pearce, P.A.

Get A Free Consultation

or, give us a ring at (800) 732-2889.

Robert Pearce

Consult With An Attorney Who Recovers Investment Losses Caused By UBS Financial Services Today!

The investment loss attorneys at The Law Offices of Robert Wayne Pearce, P.A., have helped countless investors over the last 40 years recover the losses from their investment accounts that were caused by broker negligence or misconduct. The firm has extensive experience with UBS Financial Services cases, and Attorney Pearce is committed to seeing that those responsible for the losses you have suffered are held fully accountable.

Give us a call at 800-732-2889. Let’s discuss your case and see what we can do to help you get the compensation you need and deserve.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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