{"id":7287,"date":"2019-08-15T14:00:09","date_gmt":"2019-08-15T19:00:09","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=7287"},"modified":"2019-08-29T14:04:23","modified_gmt":"2019-08-29T19:04:23","slug":"texas-fines-investment-advisor-uxvy-etf-losses","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/texas-fines-investment-advisor-uxvy-etf-losses\/","title":{"rendered":"Texas Fines Investment Advisor for Failure to Supervise, UXVY ETF Losses"},"content":{"rendered":"

The Texas State Securities Board <\/a>is ordering William H. Lowell, the president of Lowell & Co., to pay a $40K fine after he allegedly failed to properly supervise one of his firm\u2019s ex- financial representatives. The formerly registered broker and investment advisor, Jody Bryant Bowers<\/a>, allegedly lost nearly all of the assets in two client accounts after holding onto an exchange traded fund (ETF) for too long.<\/p>\n

According to the state\u2019s disciplinary order<\/a>, Bowers bought and sold Proshares Ultra VIX Short-Term Futures ETF (UXVY) shares, which she \u201cexclusively\u201d traded in in the accounts of certain clients. This type of fund makes money through S&P 500 Index volatility, benefiting when there is a drop in the index.<\/p>\n

Because the UXVY ETF is a leveraged exchange-traded fund that is a high-risk and costly investment, it is intended for short-term trading and must be monitored every day. However, Bower allegedly disregarded the warnings that were in the ETF\u2019s prospectus and proceeded to hold on to positions in UVXY in two client accounts for too long, including 11,000 shares in one client\u2019s account that were held there for 987 days. This caused the loss of 93% of that client\u2019s initial investment. Bower also allegedly held on to 2,000 UXVY shares in another client’s\u00a0account for 356 days, causing a 93% loss on the initial investment.<\/p>\n

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

The Texas State Securities Board is ordering William H. Lowell, the president of Lowell & Co., to pay a $40K fine after he allegedly failed to properly supervise one of his firm\u2019s ex- financial representatives. The formerly registered broker and investment advisor, Jody Bryant Bowers, allegedly lost nearly all of the assets in two client […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[4023,3777,3781,3750],"tags":[4125,4126,4127,4128,4129],"class_list":["post-7287","post","type-post","status-publish","format-standard","hentry","category-exchange-traded-funds","category-inadequate-supervision","category-investment-advisers","category-texas-securities-fraud","tag-jody-bryant-bowers","tag-lowell-co","tag-proshares-ultra-vix-short-term-futures-etf","tag-uxvy-etf","tag-william-h-lowell"],"yoast_head":"\nTexas Fines Investment Advisor for Failure to Supervise, UXVY ETF Losses — Investor Lawyers Blog — August 15, 2019<\/title>\n<meta name=\"description\" content=\"William H. Lowell, the president of Lowell & Co., is to pay a $40K fine for failure to supervise related to the exchange traded funds (ETF).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/texas-fines-investment-advisor-uxvy-etf-losses\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Texas Fines Investment Advisor for Failure to Supervise, UXVY ETF Losses — Investor Lawyers Blog — August 15, 2019\" \/>\n<meta name=\"twitter:description\" content=\"William H. Lowell, the president of Lowell & Co., is to pay a $40K fine for failure to supervise related to the exchange traded funds (ETF).\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Texas Fines Investment Advisor for Failure to Supervise, UXVY ETF Losses — Investor Lawyers Blog — August 15, 2019","description":"William H. Lowell, the president of Lowell & Co., is to pay a $40K fine for failure to supervise related to the exchange traded funds (ETF).","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/texas-fines-investment-advisor-uxvy-etf-losses\/","twitter_card":"summary_large_image","twitter_title":"Texas Fines Investment Advisor for Failure to Supervise, UXVY ETF Losses — Investor Lawyers Blog — August 15, 2019","twitter_description":"William H. Lowell, the president of Lowell & Co., is to pay a $40K fine for failure to supervise related to the exchange traded funds (ETF).","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/texas-fines-investment-advisor-uxvy-etf-losses\/","url":"https:\/\/www.investorlawyers.com\/blog\/texas-fines-investment-advisor-uxvy-etf-losses\/","name":"Texas Fines Investment Advisor for Failure to Supervise, UXVY ETF Losses — Investor Lawyers Blog — August 15, 2019","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2019-08-15T19:00:09+00:00","dateModified":"2019-08-29T19:04:23+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"William H. Lowell, the president of Lowell & Co., is to pay a $40K fine for failure to supervise related to the exchange traded funds (ETF).","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/texas-fines-investment-advisor-uxvy-etf-losses\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/texas-fines-investment-advisor-uxvy-etf-losses\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/texas-fines-investment-advisor-uxvy-etf-losses\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Texas Fines Investment Advisor for Failure to Supervise, UXVY ETF Losses"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards & Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards & Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards & Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-1Tx","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/7287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=7287"}],"version-history":[{"count":1,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/7287\/revisions"}],"predecessor-version":[{"id":18215,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/7287\/revisions\/18215"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=7287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=7287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=7287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}