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UBS Financial Services Sanctioned by FINRA Following Alleged Rule Violations

UBS Financial Services

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on June 16, 2017 indicate that New Jersey-based brokerage and investment advisor firm UBS Financial Services was recently sanctioned by FINRA in connection to alleged rule violations. Fitapelli Kurta is interested in hearing from investors who have complaints regarding UBS Financial Services (CRD# 156171).

Established in Delaware in 1969, UBS Financial Services is headquartered in Weehawken, New Jersey and registered with 53 US states and territories. Amy Fainsbert is Chief Financial Officer; Lisa Francomanco is Chief Compliance Officer for the advisory business; Sharyn Handelsman is Chief Compliance Officer; Brian Hull is President; Thomas Naratil is Chairman; Brent Taylor is General Counsel. The firm is registered with the Securities and Exchange Commission, FINRA and nine other self-regulatory organizations.

According to the firm’s BrokerCheck report, UBS Financial Services was recently sanctioned by FINRA.

In May 2017 FINRA sanctioned UBS Financial Services following allegations it “failed to accurately record the time of order receipt by its financial advisors for manually handled non-convertible preferred orders, failed to accurately record the time of order receipt at its taxable fixed income (TFI) desk for manually handled non-convertible preferred orders, and failed to accurately record the time of execution for manually handled non-convertible preferred orders.” FINRA’s findings state further: “the firm failed to provide best execution with respect to transactions executed in OTC securities with customers or customers of another broker-dealer, by failing to use reasonable diligence to ascertain the best market for the subject security and by failing to buy or sell in such market so that the resultant prices to the customers were as favorable as possible under prevailing market conditions.” UBS Financial Services was censured and issued a fine of $110,000, and was required to revise its written supervisory procedures.

If you have lost money investing with UBS Financial Services, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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