Bruce Davis Smith of Atlanta Georgia a stockbroker formerly employed by UBS Financial Services Inc. has been discharged by the firm on August 7, 2018 supported by allegations that Smith was not forthcoming to the firm concerning his involvement with a customer in transactions referenced in a Securities Exchange Commission (SEC) inquiry.
Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms that Smith is the subject of a customer initiated investment related arbitration claim which was resolved for $666,000.00 in damages founded on accusations that while Smith was associated with Merrill Lynch Pierce Fenner Smith Incorporated; misrepresentations and omissions had been made to the customer concerning an unregistered private placement investment; the customer’s assets were used to effect securities transactions outside the firm’s auspices; and the customer was provided unsuitable investment recommendations concerning the private placement. FINRA Arbitration No. 12-03743 (Apr. 9, 2014).
