James Cain Did Not Inform a Customer of the Illiquid Nature and Risk Profile of His Investments

James CainPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on June 27, 2017 indicate that California-based UBS Financial Services broker/adviser James Cain has been the subject of resolved or pending customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Cain (CRD# 1690894).

James Cain has spent 29 years in the securities industry and has been registered with UBS Financial Services in Beverly Hills, California since 2011. Previous registrations include Merrill Lynch in Los Angeles, California; Banc of America Investment Services in Los Angeles, California; Prudential Securities in New York, New York; Painewebber in Weehawken, New Jersey; and Dean Witter Reynolds in Purchase, New York. He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination); Series 63 (Uniform Securities Agent State Law Examination); Series 7 (General Securities Representative Examination); and Series 8 (General Securities Sales Supervisor Examination [Options Module & General Module]). He is a registered broker and investment adviser with nine US states and territories: Arizona, California, Delaware, Idaho, Montana, Nevada, Oregon, Washington and Wisconsin.

According to his BrokerCheck report, he has received one customer complaint and one pending customer complaint.

In May 2017 a customer alleged James Cain, while employed at UBS Financial Services, recommended unsuitable investments and did not inform him of the illiquid nature and risk profile of the recommended investments. The customer is seeking $145,000 in damages in the pending complaint.

In 2000 a customer alleged James Cain, while employed at Painewebber, recommended unsuitable investments and mismanaged assets. The complaint settled for $9,999.

According to FINRA rules and federal securities law, brokers and investment advisers mush uphold a fiduciary duty to act only in the best interests of their clients. This means, for example, that they can only recommend suitable investments that consider the client’s investment, experience, risk tolerance, net worth, investment goals, and other factors. Brokers and firms who violate applicable rules and regulations may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state authorities.

If you or someone you know has a complaint regarding James Cain, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup lost funds. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.