Articles Tagged with UBS Financial

YES Strategy Investors Suffer Losses, Say Risks Were Misrepresented

Another Financial Industry Regulatory Authority (FINRA) arbitration claim has been filed against UBS Financial for losses sustained in its Yield Enhancement Strategy. The claimants contend that their financial advisors at the broker-dealer unsuitably recommended this iron condor strategy that was misrepresented to them as low risk. 

The investors say that they worked with UBS brokers Brian Jay Donaldson and Frank Frederick Baldwin. According to BrokerCheck, this is Baldwin’s first customer dispute and Donaldson’s second. The first one involving Donaldson is also over UBS YES losses with that claimant seeking $600K in damages.

UBS Financial Broker Runs The Burish Group in the Midwest 

If you are an investor who suffered losses while working with UBS broker Andrew Burish, please contact our broker fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com). 

Burish is considered a top UBS financial advisor who is head of The Burish Group in Madison, Wisconsin. He is accused of repeatedly recommending the short-selling of Tesla, Inc. shares, causing over $23M in losses for four couples, who are all related, and another investor. Tesla is an electric vehicle and clean energy company founded by billionaire Elon Musk. 

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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