When communicating online or investing with any professional, make sure you know who you’re dealing with. Imposters might link to sites like BrokerCheck from phishing or similar scam websites, or through social media , trying to steal your personal information or your money. Please contact FINRA with any concerns.
CLAIMANT ALLEGES THAT THE TRADES EXECUTED BY UBS THROUGH ITS REGISTERED REPRESENTATIVES WERE UNSUITABLE.
TIME FRAME: FIRST QUARTER 2007-DECEMBER 2009
Damage Amount Requested
$206,690.89
Settlement Amount
$81,250.00
Broker Comment
I HAVE NEVER MET EITHER CLIENTS. I HAVE NEVER SPOKEN TO, CORRESPONDED WITH OR ANY WAY ADVISED EITHER OF THE CLIENTS ON ANY MATTER. I HAVE NEVER BOUGHT OR SOLD ANY SECURITIES FOR THE CLIENTS' ACCOUNTS. I HAVE NEVER MANAGED OR CO-MANAGED THEIR ACCOUNTS AT UBS. THEIR ALLEGATIONS IN THE FINRA CLAIM CONCERNING ME ARE COMPLETELY INACCURATE AND UNTRUE. I PLAYED NO PART IN ANY OF THE ACTIONS THEY ALLEGE.
3/31/2009
Customer Dispute
Denied
Allegations
TIME FRAME: 7/17/2008.
THE CLIENT ALLEGES THAT HIS FINANCIAL ADVISOR MISLED HIM BY OMITTING INFORMATION AND NOT DISCLOSING IN FULL THE TERMS OF HIS LOAN. DAMAGES ALLEGED TO BE IN EXCESS OF $5,000.
Damage Amount Requested
$5,000.00
Broker Comment
ADVISOR DISCUSSED ALL FIXED LOAN PARAMETERS (INCLUDING PREPAYMENT PENALTIES) WITH CLIENT AND CLIENT CHOSE FIXED LOAN RATHER THAN THE VARIABLE LOAN OPTION WITHOUT PREPAYMENT PENALTIES IN ORDER TO LOCK IN THE INTEREST RATE. CLIENT SIGNED DOCUMENTS WITH ALL CLAUSES INCLUDED (INCLUDING PREPAYMENT PENALTIES). CLIENT LATER DECIDED TO TRANSFER HIS ACCOUNTS AND DID NOT WANT TO HONOR THE LOAN AGREEMENT PREPAYMENT PENALTIES NECESSARY TO CLOSE THE ACCOUNT, SO HE FABRICATED THIS COMPLAINT AT MY EXPENSE.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Loading...
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.