Articles Tagged with UBS

UBSAccording to reports published on Reuters and elsewhere, UBS Financial Services has agreed to pay $15 million to settle charges by the Securities and Exchange Commission (SEC) involving sales practice violations. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding UBS Financial Services, especially if those complaints involve investments in reverse convertible notes (RCNs).

The Wall Street Journal reports that UBS Financial Services “sold roughly $548 million of the financial products, known as single-stock linked reverse convertible notes, to more than 8,700 relatively inexperienced individual investors from 2011 through 2014.” However, according to the SEC, “some of UBS’s sales representatives weren’t provided adequate education and training to understand the risks of the financial products, which contained embedded derivatives, and as a result they weren’t always able to determine whether they were a good match for certain customers.”

As a consequence of this alleged inadequate training, some UBS representatives recommended products that were unsuitable for clients “who had indicated primarily moderate or conservative investment objectives, along with modest reported incomes and net worths, including some that were retired,” according to the Wall Street Journal.

Andrew Bodner Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on July 25, 2016 indicate that New Jersey-based Comprehensive Asset Management and Servicing broker/adviser Andrew Bodner has been the subject of customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Bodner (CRD# 1765438).

Andrew Bodner has spent 28 years in the securities industry and has been registered with Comprehensive Asset Management and Servicing in Parsippany, New Jersey since 2010. Previous registrations include UBS Financial Services in Florham Park, New Jersey; the GMS Group in Livingston, New Jersey; and Moore & Schley, Cameron & Company. He is a registered broker and investment adviser with the following US states: Connecticut, Delaware, Florida, Maine, New Jersey, New York, North Carolina, and Pennsylvania. Continue Reading

David LugoPublic records provided by the Financial Industry Regulatory Authority (FINRA) on June 27, 2016 indicate that former Puerto Rico-based UBS broker David Lugo has been the subject of more than one hundred resolved or pending customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Lugo (CRD# 3109426).

David Lugo has spent 16 years in the securities industry and was most recently registered with UBS Financial Services in San Juan, Puerto Rico (2002-2015). He was previously registered with Doral Securities in Puerto Nuevo, Puerto Rico. He is currently not registered with any state or firm. Continue Reading

 Allan Yarkin Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on May 16, 2016 indicate that Florida- and Massachusetts-based UBS Financial Services broker/adviser Allan Yarkin has been the subject of numerous customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Yarkin (CRD# 809579).

Allan Yarkin has spent 40 years in the securities industry and has been registered with UBS Financial Services in Lenox, Massachusetts and Aventura, Florida since 2013. Previous registrations include Morgan Stanley in Aventura, Florida; Citigroup Global Markets in Aventura, Florida; Lehman Brothers in New York, New York; Loeb Partners; Dean Witter Reynolds; and Dean Witter & Company. He is a registered broker and investment adviser with 31 US states and territories. Continue Reading

Brian GoldPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on May 12, 2016 indicate that Florida-based UBS Financial Services broker Brian Gold has received settled or pending customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Gold (CRD# 2336491).

Brian Gold has spent 23 years in the securities industry and has been registered with UBS Financial Services in Aventura, Florida since September 2015. Previous registrations include Merrill Lnch in Aventura, Florida (2006-2014); AdVest in Hartford, Connecticut (2004-2006); Morgan Stanley in Purchase, New York (2000-2004); and Prudential Securities in New York, New York (1993-2000). He is a registered broker and investment adviser with thirteen US states and territories: California, the District of Columbia, Florida, Maryland, New Jersey, New York, North Carolina, Pennsylvania, Texas, Vermont Virginia, and Washington. Continue Reading

Zahir Walji According to records provided by the Financial Industry Regulatory Authority (FINRA), former Texas-based Oppenheimer broker Zahir Walji is currently not registered to act as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Walji (CRD# 5073186).

Zahir Walji has spent eight years in the securities industry and was most recently registered with Oppenheimer & Company in Austin, Texas (2012-2014). He was previously registered with UBS Financial Services in Austin, Texas (2006-2012). He is currently not registered with any state or firm. Continue Reading

Benjamin Sax

The securities and investment fraud law firm Fitapelli Kurta is investigating allegations of misconduct against New York-based Merrill Lynch broker/adviser Benjamin Sax (CRD# 867486).

Benjamin Sax has spent 36 years in the securities industry and has been registered with Merrill Lynch in New York, New York since January 2009. Previous registrations include UBS Financial Services in New York, New York (2003-2009); Banc of America Securities in New York, New York (2001-2003); Bear Stearns & Company in New York, New York (1995-2001); Salomon Brothers Municipals (1992-1995); Salomon Brothers in New York, New York (1990-1995); Kidder Peabody in New York, New York (1984-1990); Laidlaw Adams & Peck (1981-1984); and J. Rothschild Unterburg Towbin (1979-1981). He is a registered broker and investment adviser in 32 US states and territories. Continue Reading

shutterstock_212979097The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding New Jersey-based Morgan Stanley broker/adviser Enrico Caiazzo (CRD# 1228870).

Enrico Caiazzo has spent 31 years in the securities industry and has been registered with Morgan Stanley in Lawrenceville, New Jersey since 2010. Previous registrations include UBS Financial Services in Princeton, New Jersey (1990-2010); Prudential-Bache Securities in New York, New York (1986-1990); Dean Witter Reynolds (1894-1986); and First Jersey Securities (1984). Mr. Caiazzo is a registered broker and investment adviser in 28 US states and territories.

According to his BrokerCheck report, Enrico Caiazzo is the subject of five customer complaints and five customer complaints that were denied or withdrawn.

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