{"id":6830,"date":"2019-02-19T15:09:29","date_gmt":"2019-02-19T21:09:29","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6830"},"modified":"2019-02-19T15:09:29","modified_gmt":"2019-02-19T21:09:29","slug":"financial-firms-ubs-settles-with-virginias-regulator-over-brokers-unsuitable-recommendations-finra-fines-texas-broker-dealer-225k-for-mutual-fund-sales-violations-and-an-ex-clien","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/financial-firms-ubs-settles-with-virginias-regulator-over-brokers-unsuitable-recommendations-finra-fines-texas-broker-dealer-225k-for-mutual-fund-sales-violations-and-an-ex-clien\/","title":{"rendered":"Financial Firms: UBS Settles with Virginia\u2019s Regulator over Broker\u2019s Unsuitable Recommendations, FINRA Fines Texas Broker-Dealer $225K for Mutual Fund Sales Violations, and an Ex-Client Seeks $500K from Carson Wealth while Alleging Excessive Fees"},"content":{"rendered":"<p>\t\t\t\t<strong>Virginia Regulator Fines UBS Financial After Its Broker Makes Unsuitable Recommendations<\/strong><\/p>\n<p>To settle charges brought by <a href=\"http:\/\/www.scc.virginia.gov\" target=\"_blank\" rel=\"noopener noreferrer\">Virginia\u2019s State Corporate Commission <\/a>accusing a UBS (UBS) broker of making unsuitable recommendations involving gold and precious metals securities to 18 clients,<a href=\"https:\/\/www.investorlawyers.com\/investor-claims\/broker-misconduct\/ubs-painewebber\/\"> UBS Financial Services<\/a> will pay $319K\u2014$289K to the clients and $30K to the state.<\/p>\n<p>Virginia&#8217;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.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/financial-firms-ubs-settles-with-virginias-regulator-over-brokers-unsuitable-recommendations-finra-fines-texas-broker-dealer-225k-for-mutual-fund-sales-violations-and-an-ex-clien\/\"  title=\"Continue Reading Financial Firms: UBS Settles with Virginia\u2019s Regulator over Broker\u2019s Unsuitable Recommendations, FINRA Fines Texas Broker-Dealer $225K for Mutual Fund Sales Violations, and an Ex-Client Seeks $500K from Carson Wealth while Alleging Excessive Fees\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Virginia Regulator Fines UBS Financial After Its Broker Makes Unsuitable Recommendations To settle charges brought by Virginia\u2019s 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\u2014$289K to the clients and $30K to the state. Virginia&#8217;s regulator contends [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6733,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773,3739,3776,4052,3799,3750],"tags":[3289,3290,3291,3292],"class_list":["post-6830","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-broker-fraud","category-finra","category-finra-settlements","category-institutional-investors","category-mutual-funds","category-texas-securities-fraud","tag-carson-wealth-management","tag-kestra-investment-services","tag-ron-carson","tag-ubs-financial"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Financial Firms: UBS Settles with Virginia\u2019s Regulator over Broker\u2019s Unsuitable Recommendations, FINRA Fines Texas Broker-Dealer $225K for Mutual Fund Sales Violations, and an Ex-Client Seeks $500K from Carson Wealth while Alleging Excessive Fees &#8212; 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