{"id":258,"date":"2007-10-25T01:55:22","date_gmt":"2007-10-25T01:55:22","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/10\/fired_ubs_brokers_24_million_n"},"modified":"2021-09-20T15:43:52","modified_gmt":"2021-09-20T20:43:52","slug":"fired-ubs-brokers-24-million-n","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/fired-ubs-brokers-24-million-n\/","title":{"rendered":"Fired UBS Broker\u2019s $2.4 Million NASD Arbitration Award is Upheld"},"content":{"rendered":"

\t\t\t\tA $2.4 million NASD Arbitration Award to a former UBS financial adviser, who was fired in 2003 by the company that preceded UBS PaineWebber Inc. is being upheld by the U.S. District Court for the Western District of North Carolina. The court said that it did not agree with UBS’s theory that the arbitration award did not honor provisions made in the arbitration contract or that it was in manifest disregard of the law. <\/p>\n

Former financial adviser W. Van Pelt Jr. had served as a financial advisor UBS and its predecessor JC Bradford from 1999-2003. Upon his hiring, he filled out a Form U-4 industry form in which he agreed to not hold UBS liable if it provided specific information, including notice of termination. <\/p>\n

He was let go in January 2003 during an internal probe. UBS filed a U-5 form reporting Van Pelt’s termination because of “concerns of conduct” in a matter involving a customer transaction. On the form, UBS said that Van Pelt was not under investigation because the probe was already over at that time. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

A $2.4 million NASD Arbitration Award to a former UBS financial adviser, who was fired in 2003 by the company that preceded UBS PaineWebber Inc. is being upheld by the U.S. District Court for the Western District of North Carolina. The court said that it did not agree with UBS’s theory that the arbitration award […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3798,3755],"tags":[],"class_list":["post-258","post","type-post","status-publish","format-standard","hentry","category-arbitration","category-ubs"],"yoast_head":"\nFired UBS Broker\u2019s $2.4 Million NASD Arbitration Award is Upheld — Investor Lawyers Blog — October 25, 2007<\/title>\n<meta name=\"description\" content=\"A $2.4 million NASD Arbitration Award to a former UBS financial adviser, who was fired in 2003 by the company that preceded UBS PaineWebber Inc. is being — October 25, 2007\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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