UBS Group Fined $51M By Hong Kong Securities Regulator The Hong Kong Securities and Futures Commission (SFC) is ordering UBS Group AG (UBS) to pay a $51M fine for overcharging clients between 2008 and 2017. It is also ordering the Swiss banking giant to pay more than $25M in compensation…
SSEK Investigating David Fagenson, A Former UBS Brokerage Investment Advisor If you are an investor who worked with former UBS broker, David Fagenson, and suffered substantial losses or suspect you may have been charged excessive fees and commissions, please contact our broker fraud lawyers at Shepherd Smith Edwards and Kantas,…
UBS Financial Services (UBS) brokers Matthew Buchsbaum and Scott Rosenberg are currently the subjects of multiple investor fraud claims by firm clients who blame them for losses they sustained from the UBS YES Strategy. This Yield Enhancement Strategy (YES) is a complex investment strategy and it is not suitable for…
A Financial Industry Regulatory Authority panel (FINRA) has awarded one of our clients, a 91-year-old widow, $550K in her Texas broker-dealer fraud case against UBS Financial Services (UBS). The claimant, who is from Texas, contends in her Houston senior investor fraud case that because her UBS broker made unsuitable investments…
U.S. District Judge Sidney H. Stein is refusing to grant class action certification to a group of investors suing UBS Puerto Rico over its sale of proprietary closed-end mutual funds. In particular, the class action complaint dealt with a series of 23 closed-end bond funds that UBS Puerto Rico developed…
Roanoke, VA – August 1, 2014 Lawyers with the Securities Law Firm of SHEPHERD SMITH EDWARDS & KANTAS LLP, www.sseklaw.com, are investigating claims involving Donna Tucker and UBS Financial Services, Inc. Donna Tucker worked as a broker with A.G. Edwards for four years until she joined UBS Financial Services in…
In the U.S. Securities and Exchange Commission’s (SEC) Puerto Rico bond fraud case against ex-UBS Puerto Rico broker Jose Ramirez, a federal judge has found that Ramirez committed fraud and was in violation of securities laws when he directed customers to use lines of credit to purchase Puerto Rico closed-end funds. …
A former UBS (UBS) banking official is claiming that Wall Street banks like his previous employer played a key role in the Puerto Rico economic crisis that has left the U.S. territory more than $70 billion in debt and mired in bankruptcy-like proceedings. The ex-UBS official, Carlos Capacete, was interviewed…
A Financial Industry Regulatory Authority Panel has ruled that UBS must pay claimant Antonio Gnocchi Franco $204,000 in compensatory damages and $66,000 in costs for his Puerto Rico bond fraud case. Franco, a Puerto Rico resident who was also the trustee of his law firm’s pension plan, accused the brokerage…
A Financial Industry Regulatory Authority panel has awarded five people $521,000 in compensatory damages in their Puerto Rico bond fraud case against UBS Financial Services (UBS) and UBS Financial Services Inc. of Puerto Rico (UBS-PR). The claimants had accused the financial firm of securities fraud, constructive fraud, common law fraud,…