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Search Results for: closed end funds

This arbitration arises out of a Santander stockbroker’s unsuitable investment decision with regard to the Claimants’ Santander investment account which was reinvested and overconcentrated in Puerto Rico, resulting in the Claimants suffering substantial monetary losses.

Austin Wayne Morton, a previously registered broker with Edward D. Jones & Co. L.P. (Edward Jones), was named a Respondent in a Financial Industry Regulatory Authority (FINRA) complaint alleging that he converted $36,000 from his former customer, an elderly man suffering from dementia. According to the FINRA complaint, Austin Wayne Morton, of Spiro, Oklahoma, allegedly […]

David Lockey, a stockbroker formerly employed with SWS Financial Services, Inc. n/k/a Hilltop Securities Independent Network, Inc., submitted an Offer of Settlement to the Financial Industry Regulatory Authority (FINRA) in which he was assessed a deferred fine of $10,000, suspended for six months, and ordered to pay disgorgement of portion of his commissions of $46,447.38 […]

David Michael Miller, a former registered representative with Huntington Investment Company (Huntington) was named a respondent in a Financial Industry Regulatory Authority (FINRA) complaint alleging unsuitable Unit Investment Trust (UIT) recommendations. The complaint alleges that Mr. Miller, of Columbus, Ohio, had no reasonable basis to recommend UIT purchases which totaled approximately $5.4 million in 129 […]

UBS Wealth Management and UBS Puerto Rico have been ordered by the Financial Industry Regulatory Authority (FINRA) to pay $1 million in damages to a 66 year old investor. According to the arbitration panel, UBS brokers encouraged the investor to keep and hold 100% of his investment portfolio in risky Puerto Rico closed end bond […]

In 2002 and 2003, the client inherited what she understood to be bonds and mutual funds from her parents’ UBS PaineWebber accounts when they passed away. The client did not know the true nature or risk of the investments that she had inherited and held in her account. She thought she actually owned bonds that […]

NASD Rule 2310 known as the “Suitability Rule” provides that a stockbroker who recommends the purchase or sale of a security to have “reasonable grounds” for believing that the recommendation is suitable for the customer based on the facts disclosed by the customer relating to his investment objectives and financial situation and needs. Apparently, Mr. […]

The Law Offices of Robert Wayne Pearce, P.A. is currently investigating and representing investors against UBS Financial Services, Inc. and other FINRA-registered brokerage firms and financial advisors who offered and sold UBS ETRAC Exchange Traded Notes (ETNs). If you were unaware of the risks of these investments when you bought them, you certainly know now, […]

Let Us Help You Recover Your GPB Investment Losses! Gary Lee Imel is currently employed by Ameriprise Financial Services, Inc. in Gig Harbor, Washington.  But during the period June 2014 through August 2017 he was registered with Kalos Capital Inc. and prior thereto from October 2006 through June 2014 he was registered with Madison Avenue […]

In an arbitration proceeding against UBS Financial Services, Inc. and UBS Financial Services, Inc. of Puerto Rico, the Law Offices of Robert Wayne Pearce, P.A. won $4.25 million in compensatory damages plus interest at 6.25% from February 28, 2014 and costs of $170,000 for one of the firm’s clients last month. This arbitration arose out of a […]

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