Articles Posted in Stockbrokers In The News

How Do You Recover Your “UBS-YES” Investment Losses?

If you are reading this Blog, Jeffrey Neil Klotz probably recommended that you invest in the UBS Yield Enhanced Strategy (“UBS-YES”) and lost 20-40% of your original investment in what was supposed to be a “market neutral” investment strategy. Despite your UBS Financial Services, Inc. (“UBS”) stockbroker’s representations about the UBS-YES managers ability to “manage risk” and “minimize losses” through its “iron condor” option strategy you still realized substantial losses. You are not alone because that is just what many other UBS-YES investors have told us about the pitch made to them to invest in the UBS-YES program and their recent experience.

In fact, according to FINRA’s BrokerCheck website one investor has filed an arbitration claim against UBS for its own misrepresentations about and/or mismanagement of the program and/or Mr. Klotz’s UBS-YES investment recommendations. This is in addition to four other red flags on Mr. Klotz’s BrokerCheck Report, including one arbitration entered in favor of a customer and two other claims when he was employed at Morgan Stanley that were settled. Continue Reading

How Do You Recover Your “UBS-YES” Investment Losses?

If you are reading this Blog, James Stewart Small probably recommended that you invest in the UBS Yield Enhanced Strategy (“UBS-YES”) and lost 20-40% of your original investment in what was supposed to be a “market neutral” investment strategy. Despite your UBS Financial Services, Inc. (“UBS”) stockbroker’s representations about the UBS-YES managers ability to “manage risk” and “minimize losses” through its “iron condor” option strategy you still realized substantial losses. You are not alone because that is just what many other UBS-YES investors have told us about the pitch made to them to invest in the UBS-YES program and their recent experience.

In fact, according to FINRA’s BrokerCheck website one investor has filed an arbitration claim against UBS for its own misrepresentations about and/or mismanagement of the program and/or Mr. Small’s UBS-YES investment recommendations. This is in addition to other red flags on Mr. Small’s BrokerCheck Report, including a suspension by the SEC that has been served. Continue Reading

In an Offer of Settlement, Halil Kozi, of North Middletown, New Jersey has been suspended for two years by the Financial Industry Regulatory Authority (FINRA) for excessive trading, known as churning, and unsuitable options recommendations and trades.

From June 2013 through February 2015, Halil Kozi was associated with PHX Financial, Inc. (PHX).  According to FINRA, Mr. Kozi recommended transactions in a customer’s account that were quantitatively unsuitable and excessive and inconsistent with the customer’s risk profile or financial situation.  FINRA found that Mr. Kozi recommended risky, speculative equity and options transactions that generated commissions of more than $135,000 while causing the customer to incur losses of $72,000.  By recommending quantitatively unsuitable excessive trading for the customer’s account, Mr. Kozi allegedly violated FINRA Rules 2111 and 2010.  Without admitting or denying FINRA’s findings, Halil Kozi consented to the sanctions and was suspended from association with any FINRA member for two years.  The suspension is in effect from April 6, 2020 through April 5, 2022.  No monetary sanctions were issued due to Mr. Kozi’s financial status. Continue Reading

How Do You Recover Your “UBS-YES” Investment Losses?

If you are reading this Blog, James Andrew Coan probably recommended that you invest in the UBS Yield Enhanced Strategy (“UBS-YES”) and lost 20-40% of your original investment in what was supposed to be a “market neutral” investment strategy. Despite your UBS Financial Services, Inc. (“UBS”) stockbroker’s representations about the UBS-YES managers ability to “manage risk” and “minimize losses” through its “iron condor” option strategy you still realized substantial losses. You are not alone because that is just what many other UBS-YES investors have told us about the pitch made to them to invest in the UBS-YES program and their recent experience.

In fact, according to FINRA’s BrokerCheck website one investor has filed an arbitration claim against UBS for its own misrepresentations about and/or mismanagement of the program and/or Mr. Coan’s UBS-YES investment recommendations. Continue Reading

How Do You Recover Your “UBS-YES” Investment Losses?

If you are reading this Blog, Henry Paul Jakobsze probably recommended that you invest in the UBS Yield Enhanced Strategy (“UBS-YES”) and lost 20-40% of your original investment in what was supposed to be a “market neutral” investment strategy. Despite your UBS Financial Services, Inc. (“UBS”) stockbroker’s representations about the UBS-YES managers ability to “manage risk” and “minimize losses” through its “iron condor” option strategy you still realized substantial losses. You are not alone because that is just what many other UBS-YES investors have told us about the pitch made to them to invest in the UBS-YES program and their recent experience.

In fact, according to FINRA’s BrokerCheck website one investor has filed an arbitration claim against UBS for its own misrepresentations about and/or mismanagement of the program and/or Mr. Jakobsze’s UBS-YES investment recommendations. Continue Reading

How Do You Recover Your “UBS-YES” Investment Losses?

If you are reading this Blog, Henry Nathan Goodman probably recommended that you invest in the UBS Yield Enhanced Strategy (“UBS-YES”) and lost 20-40% of your original investment in what was supposed to be a “market neutral” investment strategy. Despite your UBS Financial Services, Inc. (“UBS”) stockbroker’s representations about the UBS-YES managers ability to “manage risk” and “minimize losses” through its “iron condor” option strategy you still realized substantial losses. You are not alone because that is just what many other UBS-YES investors have told us about the pitch made to them to invest in the UBS-YES program and their recent experience.

In fact, according to FINRA’s BrokerCheck website one investor has filed an arbitration claim against UBS for its own misrepresentations about and/or mismanagement of the program and/or Mr. Goodman’s UBS-YES investment recommendations. Continue Reading

Frederic Thomas O’Hara of Stuart, Florida submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was suspended for nine months and assessed a deferred fine of $10,000 for allegedly engaging in private securities transactions, a type of broker misconduct known as selling away.

Between February 2010 and August 2015, while registered with Sagepoint Financial, Inc., Frederic O’Hara allegedly engaged in private securities transactions without written notice or approval from his member firm. According to FINRA, Mr. O’Hara engaged in outside business activity by serving as a director of a private company without providing the required written notice to his member firm.  Mr. O’Hara also participated in five undisclosed private securities transactions in that same company’s shares totaling $63,000, which included his own $10,000 purchase.  The outside business activity and private securities transactions were violations of NASD Rule 3030, FINRA Rule 3270, NASD Rule 3040, and FINRA Rule 2010.

Continue Reading

How Do You Recover Your “UBS-YES” Investment Losses?

If you are reading this Blog, Heather Carter Molin probably recommended that you invest in the UBS Yield Enhanced Strategy (“UBS-YES”) and lost 20-40% of your original investment in what was supposed to be a “market neutral” investment strategy. Despite your UBS Financial Services, Inc. (“UBS”) stockbroker’s representations about the UBS-YES managers ability to “manage risk” and “minimize losses” through its “iron condor” option strategy you still realized substantial losses. You are not alone because that is just what many other UBS-YES investors have told us about the pitch made to them to invest in the UBS-YES program and their recent experience.

In fact, according to FINRA’s BrokerCheck website one investor has filed an arbitration claim against UBS for its own misrepresentations about and/or mismanagement of the program and/or Ms. Molin’s UBS-YES investment recommendations. Continue Reading

How Do You Recover Your “UBS-YES” Investment Losses?

If you are reading this Blog, Gregory Winston Eknoyan probably recommended that you invest in the UBS Yield Enhanced Strategy (“UBS-YES”) and lost 20-40% of your original investment in what was supposed to be a “market neutral” investment strategy. Despite your UBS Financial Services, Inc. (“UBS”) stockbroker’s representations about the UBS-YES managers ability to “manage risk” and “minimize losses” through its “iron condor” option strategy you still realized substantial losses. You are not alone because that is just what many other UBS-YES investors have told us about the pitch made to them to invest in the UBS-YES program and their recent experience.

In fact, according to FINRA’s BrokerCheck website two (2) investors have filed arbitration claims against UBS for its own misrepresentations about and/or mismanagement of the program and/or Mr. Eknoyan’s UBS-YES investment recommendations. Continue Reading

Demaurio Cortez Clark, of Acworth, Georgia submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was barred for converting an elderly customer’s funds for his personal use.

Demaurio Clark was registered with Wells Fargo Clearing Services, LLC (Wells Fargo) as an investment company and variable contracts product representative.  From July 2018 to July 2019, FINRA found that Mr. Clark converted $16,560 from an elderly customer and used the money for his personal use.  According to FINRA, Mr. Clark opened a brokerage account for his customer without the customer’s knowledge or consent and transferred the $16,560 into his own personal checking account.  These transfers were made without the customer’s knowledge or consent.  FINRA Rule 2150(a) provides that no “person associated with a member [firm] shall make improper use of a customer’s securities or funds.” Conversion of customer funds is a violation of FINRA Rule 2150(a) and FINRA Rule 2010, which requires associated persons to “observe high standards of commercial honor and just and equitable principles of trade.”  By converting customer funds for his personal use, Mr. Clark allegedly violated FINRA Rules 2150(a) and 2010.  Without admitting or denying FINRA’s findings, Demaurio Cortez Clark consented to the sanctions and has been barred from association with any FINRA member in all capacities. Continue Reading

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