Securities Arbitration Investment Fraud Lawyers » Investment and Regulatory News » Investors Continue To File YES Claims Against UBS Financial Services Inc.

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Matthew Stern Buchsbaum of New York, NY, a stockbroker registered with UBS Financial Services Inc., is the subject of a customer initiated investment related complaint filed on October 21, 2022, in which the customer requested compensation based upon allegations that Buchsbaum made unsuitable investment recommendations and made misrepresentations of material fact during the time that Buchsbaum was associated with UBS Financial Services Inc.

Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Buchsbaum has been referenced in thirty-one other customer initiated investment related disputes concerning Buchsbaum’s conduct while associated with securities broker dealers, including UBS Financial Services Inc. On September 17, 2021, a FINRA securities arbitration claim involving Buchsbaum’s conduct resulted in $269,337.09 in compensatory damages for two customers and $421,868.58 in compensatory damages for two other customers. UBS Financial Services Inc. was held liable on the customers’ claims, which included negligence, breach of fiduciary duty, breach of contract, and negligent supervision. FINRA Arbitration No. 19-00721.

Buchsbaum was the subject of a FINRA securities arbitration claim in which one customer was awarded $517,020.80 in compensatory damages and another customer was awarded $1,171,124.80 in compensatory damages because UBS Financial Services Inc. was held liable for sales practice violations. FINRA Arbitration No. 20-00459 (February 3, 2022). The Statement of Claim alleged misrepresentations of material fact, fraud, breach of fiduciary duties, breach of contract, violation of federal securities laws, and violation of state securities laws in connection with the recommendation of Yield Enhancement Strategy.

On March 1, 2022, another FINRA securities arbitration claim involving Buchsbaum’s conduct was settled for $3,500,000.00 in damages based upon allegations that Buchsbaum made misrepresentations of material fact and made unsuitable investment recommendations. FINRA Arbitration No. 20-01878.

Buchsbaum was also referenced in a FINRA securities arbitration claim that was settled for $225,000.00 in damages based upon allegations that Buchsbaum made unsuitable recommendations and made misrepresentations of material fact in connection with an overlay strategy. FINRA Arbitration No. 20-03356 (July 7, 2022).

On August 11, 2022, a different FINRA securities arbitration claim involving Buchsbaum’s conduct was settled for $250,000.00 in damages based upon allegations that Buchsbaum made unsuitable recommendations and made misrepresentations of material fact in connection with an options overlay strategy. FINRA Arbitration No. 19-02832.

Buchsbaum was also the subject of a FINRA securities arbitration claim in which the customer was awarded $5,028,412.00 in compensatory damages because UBS Financial Services Inc. was held liable for sales practice violations. FINRA Arbitration No. 19-03373 (September 16, 2022). The Statement of Claim alleged fraud, misrepresentations, unsuitable recommendations, breach of fiduciary duties, negligence, and breach of contract in connection with the sale of options.

On September 23, 2022, an additional FINRA securities arbitration claim involving Buchsbaum’s conduct was settled for $400,000.00 in damages based upon allegations that Buchsbaum made misrepresentations of material fact and made unsuitable investment recommendations. FINRA Arbitration No. 19-02810.

Buchsbaum has been associated with UBS Financial Services Inc. in New York, NY, as a stockbroker and investment advisor representative since November 20, 2015.