Claimant's counsel alleges unsuitability and misrepresentation with respect to recommendations to invest in and hold an options overlay strategy.

$850,000.00

$455,000.00

This complaint is related to a product that UBS had promoted when I was at that firm. I was not named in this complaint. It was subsequently settled without my knowledge or participation. I was not asked to contribute to the settlement in any way. UBS on their own volition decided to make this disclosure on my record. In my view, there is no investor protection value or regulatory value to reporting the above-captioned matter on my CRD record.

Time Frame: January 2, 2018 to January 10, 2019 What were the allegations against the individual? The trustee alleges their Financial Advisors never notified and or made them aware of the requirement to take minimum required distributions from the inherited IRA. The trustee further alleges they were told that no distributions were needed.

$225,000.00

Client's attorney and CPA recommended they use a bypass trust as a beneficiary for their IRA, we had no involvement in this advice whatsoever. At no time did I provide any tax advice or advice on required minimum distributions nor ever instruct them not to take distributions. At the client's request, we were in contact with the client's CPA and the CPA instructed us that no distributions be taken from the bypass trust. These accusations are specious, outright misrepresentations and categorically inaccurate.

Time frame: September 2017 - present Claimant's counsel alleges unsuitability and misrepresentation with respect to recommendations to invest in and hold an options overlay strategy.

$850,000.00

$405,000.00

This complaint is related to a product that UBS had promoted when I was at UBS. I am not named in this complaint and UBS on their own volition decided to make this disclosure on my record. The client remains a client to this day and has signed a notarized affidavit stating the following "Mr. Schwartz is not the subject of the claims in the statement of claim and the sales practice violations in Statement of Claim do not involve Mr. Schwartz"? "In my view, there would be no investor protection value or regulatory value to reporting the above-captioned matter on Mr. Schwartz's CRD record.

Time frame: August 2017 - present Claimant's counsel alleges unsuitability and misrepresentation with respect to recommendations to invest in and hold an options overlay strategy.

$500,000.00

This complaint is related to a product that UBS had promoted when I was at UBS. I am not named in this complaint and UBS on their own volition decided to make this disclosure on my record. The client remains a client to this day and has signed a notarized affidavit stating the following "Mr. Schwartz is not the subject of the claims in the statement of claim and the sales practice violations in Statement of Claim do not involve Mr. Schwartz"? "In my view, there would be no investor protection value or regulatory value to reporting the above-captioned matter on Mr. Schwartz's CRD record.