Our firm is investigating UBS Financial Services Inc. broker and investment adviser Gregory Michael Cash (CRD# 2698196) of Charlotte, North Carolina for potential investment-related misconduct tied to a pending FINRA customer dispute.
Financial Advisor’s Career History
Gregory Michael Cash has spent his entire securities career in the wirehouse and bank-brokerage channel, primarily serving clients in the Charlotte, North Carolina area. FINRA BrokerCheck shows that he is currently dually registered as a broker and investment adviser representative and has been active in the industry since the late 1990s.
Key points from his registration and employment history include:
- Current firm: UBS Financial Services Inc. (CRD# 8174), registered since January 17, 2020, working out of the branch located at 6100 Fairview Road, 9th Floor, Charlotte, NC 28277.
- Prior broker-dealer: Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD# 7691), where he was registered as a broker from August 1997 through January 2020 in Charlotte, North Carolina.
- Bank employment: Bank of America, N.A., where he reported serving as a Private Wealth Advisor from June 2011 to January 2020 in Charlotte, North Carolina.
- Outside business activities: Disclosed interests include “Cash Family Beach House,” “Charlotte Ventures, LLC” (an investment-related LLC), and “NMW Investments, LLC,” an estate-planning entity established to manage personal investments.
Over the course of his career, Mr. Cash has passed multiple general securities and state law examinations and is currently licensed in numerous U.S. states and territories through UBS Financial Services Inc.
Gregory Michael Cash Fraud Allegations and Investor Complaints Explained
According to FINRA BrokerCheck, Gregory Michael Cash currently has one pending customer dispute disclosure involving serious allegations of financial exploitation and wrongful transfers from customer accounts tied to his time at UBS Financial Services Inc.
Pending 2025 FINRA Arbitration Alleging Financial Exploitation and Fraudulent Transfers
FINRA disclosure records describe a pending customer-initiated arbitration as follows:
- Type of disclosure: Customer Dispute – Pending (FINRA arbitration).
- Reporting source: Broker (Gregory Michael Cash).
- Employing firm when activities occurred: UBS Financial Services Inc.
- Time frame of alleged misconduct: 2021–2023.
- Forum and docket: FINRA Arbitration, Case No. 25-00650.
- Filing date: April 2, 2025.
- Alleged damages: Approximately $1,194,869.00 in compensatory damages.
- Product type: “Other: Not Applicable.”
The claimants allege that they were victims of financial exploitation that led to the wrongful withdrawal of funds from their accounts at UBS. Those funds were allegedly transferred to scammers, and the claimants contend that UBS:
- Ignored clear red flags that the transactions were suspicious.
- Failed to identify and deter fraudulent transfers initiated from their accounts.
The arbitration remains pending, and there has been no adjudication or settlement reported as of the latest BrokerCheck update.
Broker’s Response to the Allegations
Mr. Cash disputes the allegations and has provided a detailed Broker Statement in which he:
- Categorically denies any involvement in the events alleged by the claimants.
- States that the claimants were advised by a third-party independent investment adviser, not by him.
- Asserts that he has no direct relationship with the claimants and no involvement in the disputed transactions.
- Explains that the accounts in question were opened as “independently-advised brokerage accounts,” in which the third-party adviser was designated to direct all trading and transactions.
- Notes that the disbursements from the claimants’ accounts were processed by UBS in accordance with directions from the third-party adviser, and that the claimants had acknowledged in account documents that their adviser would have “sole responsibility” for the transactions and monitoring of the accounts.
Summary of Disclosures Involving Gregory Michael Cash
For context, Mr. Cash’s reported disclosure history on BrokerCheck currently includes:
- Customer Disputes:
- Customer Dispute – Pending:
- Allegations: Financial exploitation and wrongful withdrawal of funds from UBS accounts, ultimately transferred to scammers; claims that UBS ignored red flags and failed to stop suspicious transfers.
- Time Frame: 2021–2023.
- Forum: FINRA Arbitration (Case No. 25-00650).
- Status: Pending; no final award or settlement reported; no admission of wrongdoing.
- Claimed Damages: $1,194,869.00.
- Customer Dispute – Pending:
Investors should understand that pending customer disputes are allegations only. Arbitrators have not yet determined the merits of the claims, and Mr. Cash denies wrongdoing.
In light of these allegations, investors who suffered losses in connection with questionable transfers, scams, or financial exploitation in accounts handled through UBS Financial Services Inc. may have potential claims against the firm, the advisor, or both, depending on the facts.
To obtain a copy of Gregory Michael Cash’s FINRA BrokerCheck report, visit this link
FINRA Rule 2165: Financial Exploitation of Specified Adults
FINRA Rule 2165, titled “Financial Exploitation of Specified Adults,” allows brokerage firms to place a temporary hold on disbursements of funds or securities from the account of certain at-risk customers—primarily seniors and other “specified adults”—if the firm reasonably believes that financial exploitation has occurred, is occurring, has been attempted, or will be attempted.
In cases like the pending arbitration involving Mr. Cash, the claimants allege that:
- They were victims of financial exploitation.
- Large sums were wrongfully withdrawn from their UBS accounts.
- Those funds were ultimately transferred to scammers.
When a firm sees unusual withdrawal patterns, rapid transfers to unfamiliar third parties, or other “red flag” behavior—especially if the customers are older or otherwise vulnerable—Rule 2165 encourages the firm to pause the disbursements and investigate. A failure to use the protective tools contemplated by Rule 2165, where appropriate, can be cited as evidence that the firm did not do enough to protect vulnerable investors from exploitation.
In the context of the allegations against UBS and Mr. Cash, investors and their counsel may ask:
- Did the firm detect or reasonably have reason to detect signs of possible exploitation?
- Were internal policies consistent with Rule 2165 and followed in practice?
- Should a temporary hold have been placed on the outgoing transfers until the legitimacy of the requests was confirmed?
Even if Rule 2165 is not explicitly charged in a statement of claim, its standards often frame what constitutes reasonable steps to protect vulnerable clients from scams.
FINRA Rule 4512: Customer Account Information and Trusted Contacts
FINRA Rule 4512, Customer Account Information, requires firms to maintain accurate and current records for each customer account, including key information such as the customer’s name, address, age, and the associated person responsible for the account. The rule also requires firms to make reasonable efforts to obtain the name and contact information of a trusted contact person for non-institutional accounts.
This rule is important in financial-exploitation cases because:
- Accurate and up-to-date account records help the firm understand who truly has authority over the account—such as a third-party adviser—and under what limitations.
- Having a trusted contact on file gives firms an additional resource to verify suspicious requests or disbursements before releasing funds.
Applied to the allegations in the FINRA arbitration involving Mr. Cash:
- The claimants’ accounts were reportedly independently advised, with a third-party investment adviser directing trading and disbursements.
- The dispute raises questions about whether UBS’s account documentation and internal records clearly reflected the third-party adviser’s authority, the customers’ expectations, and any safeguards tied to unusual disbursements.
- Investors and arbitrators may examine whether UBS appropriately used trusted contact information or other account-level controls to confirm unusual withdrawal requests that ultimately led to transfers to scammers.
If a firm fails to maintain accurate customer records or does not use available trusted contact tools to cross-check suspicious transactions, that failure may support customer arguments that the firm did not meet its duties under Rule 4512 and related investor-protection standards.
FINRA Rule 3310: Anti-Money Laundering and Red-Flag Monitoring
FINRA Rule 3310 requires every member firm to develop and implement a written anti-money laundering (AML) compliance program that is reasonably designed to detect and cause the reporting of suspicious transactions, and to comply with the Bank Secrecy Act and related regulations.
At a minimum, an AML program must include:
- Policies and procedures to monitor account activity for red flags of fraud, money laundering, or other suspicious behavior.
- Independent testing of the AML program.
- Ongoing training for appropriate personnel.
- Risk-based customer due diligence procedures.
In a case where customers allege that:
- Funds were wrongfully withdrawn from their brokerage accounts,
- Transfers were routed to scammers, and
- The firm allegedly ignored red flags and failed to identify or deter the fraudulent transfers,
Rule 3310 provides a key framework for evaluating whether the firm’s systems for monitoring suspicious activity worked as intended. Arbitrators may consider questions such as:
- Did UBS’s AML and fraud-monitoring systems flag unusual withdrawal and transfer activity in the claimants’ accounts?
- If so, how did supervisors and personnel respond to those alerts?
- Were the firm’s policies reasonably designed, and were they actually followed in this case?
Although the pending arbitration currently centers on customer exploitation and fraudulent transfers, many such cases ultimately hinge on whether the firm’s AML and red-flag procedures—adopted under Rule 3310—were adequate and effectively implemented.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis. Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.