UBS Financial Services Investment Loss Claims
Beginning in 1747 as the Union Bank of Switzerland, UBS is a global financial
entity providing financial services to private, corporate and institutional
clients. Headquartered in Switzerland, UBS is a member of the New York
and other major stock and commodities exchanges throughout the world.
In 2000, PaineWebber Group Inc., an American stock brokerage firm, merged
with UBS. At the time, PaineWebber was the fourth largest private client
firm in the U.S. with 385 offices and over 8,000 brokers. The business
was initially named UBS PaineWebber but was renamed in 2003 when all UBS
business groups became simply "UBS." The acquisition made UBS
the top wealth and asset management firm in the world until Bank of America
took over that title in 2009. The UBS American headquarters are located
in Stamford, CT, Weehawken, NJ, and New York City. UBS has offices in
over 50 countries and employs more than 65,000 people.
A securities brokerage firm licensed by FINRA, UBS has a legal duty to
supervise its brokers and its brokers' recommendations to clients
to ensure compliance with and prevent violations of the rules of the security
industry. When an individual broker is negligent or acts in an unlawful
manner against the interests of the client and that client suffers damages
as a result of such wrongdoing, the firm may be held liable for the investor's losses.
UBS Investment Misconduct
UBS Financial Services and brokers with UBS have come under scrutiny in
the past for alleged and actual investment misconduct. In April 2011,
FINRA fined the firm $2.5 million and ordered them to pay $8.25 in restitution due to
omissions that misled investors in Lehman-Issued principal protection notes (PPNs).
FINRA noted five violations by UBS that included failure to adequately
emphasize credit risk, failing to provide an adequate supervisory system
and creating advertisements that misled customers about PPNs.
In September 2011, a California UBS financial advisor was sentenced to
more than five years in prison after stealing $5.4 million from his clients.
The UBS broker,
Steven Kobayashi, pled guilty to money laundering and wire fraud after admitting that he
had transferred his USB clients' investments into his own personal
bank accounts over a period of three years.
When brokers and brokerage firms act in their own interests rather than
the best interests of their investors, it is the investors who usually
suffer. Clients who suffered significant losses (typically more than $75,000)
due to UBS misconduct or misconduct from another brokerage firm can take
legal action by contacting a
stockbroker fraud attorney from Meyer Wilson. Our law firm will hold brokerage firms and financial
advisors accountable for their misconduct and fight to help investors
recover their losses.
Recover Your Losses Against UBS
Have you or someone you know lost money because of UBS Financial Services
misconduct? Meyer Wilson may be able to help you. Our law firm has extensive
experience in this area of law and we have the expertise and financial
resources necessary to file investor claims. We bring cases against securities
brokerage firms such as UBS. Our firm represents clients with investor
claims in federal and state courts, and in arbitration through The Financial
Industry Regulatory Authority (FINRA), the American Arbitration Association
(AAA) and private arbitration. To determine whether you have a case against
UBS for your losses, call us toll-free or
complete our online form for a free case evaluation.