Articles Tagged with UBS Financial

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. 

SSEK Investigating David Fagenson, A Former UBS Brokerage Investment Advisor 

If you are an investor who worked with former UBS broker, David Fagenson, and suffered substantial losses or suspect you may have been charged excessive fees and commissions, please contact our broker fraud lawyers at Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) today. 

David Fagenson was suspended by the Financial Industry Regulatory Authority (FINRA) last year after he allegedly engaged in unsuitable trading in the accounts of three senior investors ranging in age from their 70s to mid-90s. However, this is not the first fraud allegation in which Fagenson has been involved. 

Virginia Regulator Fines UBS Financial After Its Broker Makes Unsuitable Recommendations

To settle charges brought by Virginia’s State Corporate Commission accusing a UBS (UBS) broker of making unsuitable recommendations involving gold and precious metals securities to 18 clients, UBS Financial Services will pay $319K—$289K to the clients and $30K to the state.

Virginia’s regulator contends that unsuitable recommendations were made in 2013 and 2014 and caused UBS clients to hold an overconcentration of these securities, which were not even suitable for some of them. The state said that this violated its securities rules.

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