Category Archives: UBS

John Carolyn-UBS Financial Broker-Subject of Numerous Customer Arbitrations Involving Oil & Gas Investments-Houston, TX

May 2017-Houston, TX

The FINRA records of John Carolyn,  a  stockbroker who is employed by  UBS Financial Services  disclose 5 pending customer disputes involving oil and gas securities  and one prior customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

The pending disputes include:

  • FINRA case 17-0513- a UBS customer seeks damages of $70,000 for unsuitable concentration of oil and gas investments.
  • FINRA case 16-2280- a UBS customer seeks damages of $450,000 for unsuitable concentration of oil and gas investments.
  • FINRA case 16-1941- a UBS customer seeks damages of $100,000 for unsuitable concentration of oil and gas investments.
  • FINRA case 16-1731- a UBS customer seeks damages of $750,000 for unsuitable concentration of energy securities.

 

John Carolyn has been employed by UBS Financial Services since 4/2002.

If you have questions about an account  handled by John Carolyn , contact us to discuss your options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

German Mora-Former Merrill Lynch Broker-Discloses Terminations From Employment-San Antonio, TX

April 2017- San Antonio, Texas

The FINRA records of  German Ricardo Mora ,  a  former Merrill Lynch stockbroker who is currently not registered discloses two recent terminations from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In November 2016, German Mora was discharged by Merrill Lynch who made the following comment in connection with the termination of Mora: “Conduct including exercising time and price discretion in client accounts and mismarking trades as unsolicited” .

In January 2017 Mora was discharged by his new employer Wells Fargo Clearing Services who made this comment in connection therewith: “Provided inaccurate information regarding discharge at prior employer. “

German Mora  was employed by Merrill Lynch from 1/2015-12/2016. His industry employment prior to that includes BBVA Securities, CP Capital Securities and UBS Financial.

If you have losses in an account in an account handled by German Mora  , contact us to discuss how you may be able to recover damages for those losses.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

David H. Fagenson-Former UBS Broker-Discloses Termination and Customer Dispute-Palm Beach, FL

February 2017-Palm Beach, FL

According to publicly available records David H. Fagenson , (CRD# 1652012) ,  a  stockbroker who is currently registered with Newbridge Securities disclose a pending customer dispute and a termination from employment. 

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In September 2016 Fagenson was discharged by UBS Financial who made the following allegation : “The financial advisor was discharged after a review found that while on heightened supervision, he violated firm policy by exercising time and price discretion, texting with clients and engaging in short term trading of preferred shares.”

In September 2016 a customer of UBS Financial Services alleged damages in excess of $5,000 claiming that unauthorized trades were made in his account and that he gave instructions to place stop-loss orders on several investments that were not entered.  That matter is currently pending.

Fagenson’s records reveal eight prior customer disputes that were settled.

In 2011 the Florida Office of Financial Regulation initiated an action alleging that Fagenson made a material misstatement on his application for registration. Without admitting or denying the findings that he omitted a part of a law enforcement record that was required to be disclosed on his application for registration.

Fagenson has been employed by Newbridge Securities since 12/2016. He was employed at UBS Financial from 9/2010-10/2016.

If you have questions about an account in an account handled by David H. Fagenson, contact us to discuss your legal options.

EXERCISING DISCRETION

In the securities industry exercising discretion means that the customer has authorized the broker to buy and sell securities without first consulting with the customer on each transaction. To avoid regulatory issues and to comply with firm policy, this permission must be granted in writing. Most accounts are not discretionary accounts, meaning that the broker is required to consult with the customer before making a purchase or sale in the account.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Bruce R. Clark-Wells Fargo Broker-Disciplined by Texas Regulator-Longview, TX

December 2016- Longview, Texas

The Texas State Securities Board (TSSB) sanctioned  Bruce Russell Clark (CRD# 2848753) of Longview, Texas,  reprimanding him and assessing an administrative fine of $5,000.

According to the TSSB Disciplinary Order, from June 1996 to July 2016, Clark had five liens entered against him which he failed to disclose as required by the Rules and Regulations of the Texas State Securities Board.

According to publicly available records Clark is currently employed by Wells Fargo Clearing Services. His prior employment includes Stifel, Nicolaus & Co. , UBS Financial Services and Citigroup Global Markets.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Anthony Mazzo-Former UBS Financial Broker-Discloses Customer Dispute

November 2016-Palm Beach, Florida

The FINRA records of  Anthony J. Mazzo,  a  stockbroker who is currently  employed by  BB&T Securities disclose 4 prior customer disputes that have been resolved, a currently pending customer dispute and a separation from employment after allegations.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In the currently pending matter, FINRA case#16-0458, a customer of Mazzo’s former employer, UBS Financial Services, alleges damages of $50,000 for an unsuitable investment recommendation and misrepresentation in connection with the purchase of shares in a unit investment trust.

Mazzo has been registered with BB&T Securities since 4/2016. Prior employment includes UBS Financial and Oppenheimer & Co.

 

If you have losses in an account in an account handled by Anthony Mazzo  contact us to discuss how you may be able to recover damages for those losses.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Bassam A. Salem-Wunderlich Securities Broker-Discloses Pending Customer Dispute

Birmingham, Michigan

According to FINRA records,  Bassam A. Salem,  a stockbroker  who currently works for Wunderlich Securities ,  discloses  a pending customer dispute and a prior final customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In a currently pending FINRA Case #16-01161, a customer  alleges damages of $281,000 for unsuitability, unauthorized trading, failure to supervise and breach of fiduciary duty from 2011-2015.

In a prior case FINRA Case #9-2531 a customer while Salem was employed by UBS Financial alleged damages of $300,000 for unsuitable investments and failure to diversify. That case was settled for $92,500.

Salem  has been employed by Wunderlich Securities  since 1/2011. Prior to that he was employed by UBS Financial.

If you have questions about an account handled  by Bassam A. Salem , call for a no charge consultation.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870