{"id":4362,"date":"2007-01-04T08:18:58","date_gmt":"2007-01-04T08:18:58","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/01\/ny_attorney_generals_office_su"},"modified":"2022-03-28T11:31:03","modified_gmt":"2022-03-28T16:31:03","slug":"ny-attorney-generals-office-su","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/ny-attorney-generals-office-su\/","title":{"rendered":"N.Y. Attorney General\u2019s Office Sues UBS Financial Services, Inc."},"content":{"rendered":"

\t\t\t\tThe New York Attorney General’s Office is suing UBS Financial Services, Inc. for defrauding thousands of its customers. The lawsuit provides detailed information about a scheme where UBS moved clients from regular brokerage accounts to UBS’s “InsightOne” brokerage program, even though these investors were actually not well-suited for the program. UBS is a leading brokerage firm in the United States.<\/p>\n

With InsightOne, brokerage customers had to pay an asset-based fee instead of a per-transaction commission. Asset-based fees, however, are not appropriate for investors who hardly ever trade securities or hold no-load mutual funds, a large amount of cash, or similar assets. UBS is being accused of falsely promoting InsightOne as being a brokerage program that offers personalized advice and other types of financial planning services. <\/p>\n

Instead of discouraging investors who were inappropriate for InsightOne from joining the program, the N.Y. Attorney General’s Office says that UBS:<\/p>\n

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

The New York Attorney General’s Office is suing UBS Financial Services, Inc. for defrauding thousands of its customers. The lawsuit provides detailed information about a scheme where UBS moved clients from regular brokerage accounts to UBS’s “InsightOne” brokerage program, even though these investors were actually not well-suited for the program. UBS is a leading brokerage […]<\/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":[3738,3755],"tags":[],"class_list":["post-4362","post","type-post","status-publish","format-standard","hentry","category-investor-fraud","category-ubs"],"yoast_head":"\nN.Y. 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