UBS Category Archives — Investor Lawyers Blog Published By Investment Fraud Attorneys

Ex-UBS Broker and IHT Wealth Management Investment Advisor Frederick Kort Accused Of Unsuitable Investment Recommendations Involving Options Overlay Strategy

Published on: September 15, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Pending Allegations Likely Involve UBS YES Strategy

Frederick Maximillian Kort, a former UBS Financial (UBS) broker, is facing allegations that he made misrepresentations when making unsuitable investment recommendations to customers.

According to his BrokerCheck record, there are two pending customer disputes against him, both involving an options overlay strategy. While the disclosure does not specifically state so, this is likely UBS’s Yield Enhancement Strategy, in which many of the firm’s registered representatives have come under fire for selling to investors.

Dallas Retiree Accuses UBS Of Unsuitably Recommending YES Strategy

Published on: September 1, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Senior Investor Sues UBS Financial For Losses Caused by Yield Enhancement Strategy

A Texas retiree says UBS’s Yield Enhancement Strategy (“YES”) is to blame for investment losses he suffered over a short time period at the end of 2018. According to the claim filed with the Financial Industry Regulatory Authority (“FINRA”), the YES program was unsuitably recommended to him as it is a highly risky investment program. Now, the claimant is seeking up to $100,000 in damages.

Our broker-dealer fraud lawyers at Shepherd Smith Edwards & Kantas (“SSEK Law Firm”) are representing this investor as well as several others seeking to recoup wrongful losses from UBS Financial’s YES program. SSEK Law Firm represents investors nationwide, including in UBS YES claims. The most recent case SSEK Law Firm has filed will be held in Dallas.

Retiree Couple’s UBS YES Strategy Lawsuit Seeks Up to $1M in Damages and Losses

Published on: June 10, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Claimants Lose Retirement Funds in Complex Options Trading Strategy

A retired couple is suing UBS Financial Services (UBS) after they sustained at least $800,000 in losses from investing in the firm’s Yield Enhancement Strategy (YES).

The investors contend that their UBS broker made misrepresentations and omissions when recommending this unsuitable investment strategy to them and discouraged them from leaving the YES program even as their losses mounted. Now, the investors are seeking up to $1,000,000 in damages, losses, and other costs.

UBS YES Strategy Investors Say They Were Promised Low Risks But Suffered Huge Losses

Published on: June 1, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Investors Claim UBS YES Strategy Was Mismarketed To Them: SEC Looking Into the Allegations

If you are an investor whose UBS broker recommended that you employ the UBS YES (Yield Enhancement Strategy) and you’ve since suffered significant losses, you may have grounds for an investment fraud claim.

Unfortunately, UBS and its registered representatives may have been making unsuitable recommendations of this complex investment strategy to customers, as well as misrepresenting the risks involved.

Shepherd Smith Edwards and Kantas Investigates Claims Involving Leveraged UBS ETRACS ETNs After COVID-19 Market Crash Causes Investor Losses

Published on: April 1, 2020 | by Shepherd Smith Edwards & Kantas, LLP

UBS To Offer Redemptions to ETRACS ETN Investors After Coronavirus-Spurred Crash

If you are an investor who was sold UBS ETRACS exchange-traded notes (ETNs), please contact our investor lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) today. ETRACS ETNs are complex and risky investments and they are not suitable for every investor.

UBS recently announced that it was offering mandatory redemptions for certain ETRACS ETNs while freezing trading of others after the market crashes spurred by the novel coronavirus (COVID-19) pandemic. UBS ETRACS ETN investors have lost a lot of money.

Coronavirus And Market Drops Likely to Cause More Losses for UBS YES and CYES Strategy Investors

Published on: March 11, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Coronavirus (COVID-19) Update: YES Strategy Is Vulnerable To Losses Now Markets Are Rough

The World Health Organization (WHO) has just declared the coronavirus a pandemic, with the United States President Donald Trump announcing a travel ban involving more than two dozen nations. As if these health concerns weren’t bad enough, the latest Coronavirus update has also placed the markets in a panic. Dow Jones dropped by thousands of points and the S&P 500 index has also taken a dive.

While the stock markets do typically rebound after a sharp plunge, we are currently living in uncertain times due to COVID-19. As one Bank of America Merrill Lynch report cited in a Reuters article, the coronavirus is the type of “slow-moving train wreck” in which the market “slowly and progressively” realizes its “magnitude.”

Shepherd Smith Edwards and Kantas Investigates UBS YES Strategy Claims

Published on: March 5, 2020 | by Shepherd Smith Edwards & Kantas, LLP

UBS YES Strategy Losses May Be Grounds For A Claim

Our investment fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) are continuing to offer free, no-obligation case consultations to investors that lost money in the UBS Yield Enhancement Strategy (YES). SSEK Law Firm represents clients throughout the United States.

Investor fraud claims over UBS YES Strategy losses continue to grow. Among the allegations against UBS are that its brokers made unsuitable recommendations of this complex strategy and misrepresented its risks to many customers, causing at least $60M in losses, with some reports saying that this figure could be much higher.

SSEK Investigates UBS Broker Christopher Tolman For UBS YES Strategy Recommendations

Published on: January 28, 2020 | by Shepherd Smith Edwards & Kantas, LLP

UBS Financial Broker Accused Of Unsuitable Recommendations

If UBS stockbroker, Christopher Wayne Tolman, recommended that you employ UBS’s Yield Enhancement Strategy (YES) for your investments and you sustained significant losses as a result, our securities fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm) want to talk to you.

Unfortunately, investors have lost about $60M from using this complex investment strategy that many were under the impression was safe and low risk.

UBS Ordered to Pay Investor Over $150K In Puerto Rico Bonds and Closed-End Bond Fund Case

Published on: December 4, 2019 | by Shepherd Smith Edwards & Kantas, LLP

UBS Loses Another Puerto Rico Bonds & Closed-End Fund Case

More than six years after thousands of investors lost many millions of dollars from investing in Puerto Rico bonds and closed-end bond funds, UBS Puerto Rico (UBS-PR) is still being held to account for the financial losses faced by many of its clients.

This includes one claimant who was recently awarded over $150,000 in compensation plus interest, other costs, and fees in her Financial Industry Regulatory Authority (FINRA) arbitration case against the firm.

Hong Kong Fines UBS Group $51M For Overcharging Clients

Published on: November 13, 2019 | by Shepherd Smith Edwards & Kantas, LLP

UBS Group Fined $51M By Hong Kong Securities Regulator

The Hong Kong Securities and Futures Commission (SFC) is ordering UBS Group AG (UBS) to pay a $51M fine for overcharging clients between 2008 and 2017. It is also ordering the Swiss banking giant to pay more than $25M in compensation to customers that were harmed.

According to the Hong Kong regulator, about 5,000 clients paid more than they should have in approximately 28,700 transactions. This happened after UBS advisors and assistants added padding to spreads involving bonds, as well as structured note trades and charging extra fees. UBS Group is accused of not disclosing to clients that they were paying these fees.