Joseph Patrick Katzaroff, of Irvine, California, a stockbroker registered with UBS Financial Services Inc., is the subject of a customer initiated investment related complaint filed on June 1, 2023, in which the customer requested $1,000,000.00 in damages based upon allegations that Katzaroff made unsuitable recommendations. The complaint alleges that Katzaroff failed to consider the trustee’s best interest and did not execute investments or an investment strategy consistent with the trustee’s goals and strategy while managing her portfolio during the time that Katzaroff was associated with UBS Financial Services Inc.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Joseph P. Katzaroff is referenced in three other customer initiated investment related disputes concerning Katzaroff’s conduct while he was associated with securities broker dealers. A customer initiated investment related complaint involving Katzaroff’s conduct was settled for $110,000.00 in damages based upon allegations that Katzaroff made unsuitable recommendations of Crimi Mae, MedTrust, and Impac Commercial Holdings when Katzaroff was associated with PaineWebber.
A different customer initiated investment related NASD securities arbitration claim involving Katzaroff’s conduct was settled for $73,000.00 in damages based upon allegations that Katzaroff engaged in fraud, unsuitable recommendations, misrepresentations of material fact, and breach of fiduciary duty in connection with the sale of mortgage company stocks. NASD Arbitration No. 98-04791.
Katzraoff was also referenced in a customer initiated investment related complaint filed on April 25, 2016, in which the customer requested damages estimated to be in excess of $5,000.00 based upon allegations that Katzraoff engaged in unauthorized and unsuitable trading and failed to disclose the risks of investments during the time that Katzraoff was associated with UBS Financial Services Inc. The complaint was denied.
Katzraoff has been associated with UBS Financial Services Inc. in Irvine, California since August 23, 1988, as a stockbroker, and since July 8, 1997, as an investment advisor representative.
