Matthew Stern Buchsbaum of New York New York a stockbroker currently registered with UBS Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $1,000,00.00 in damages based upon accusations that between March of 2017 and March of 2019: (1) misrepresentations had been made to the customer concerning the terms and conditions of an options overlay strategy and (2) trades were effected in the customer’s account on an excessive basis. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-00484 (Mar. 8, 2019).
FINRA Public Disclosure confirms that Buchsbaum has been identified in four more customer initiated investment related disputes containing allegations of his misconduct while employed with UBS Financial Services. In particular, on April 3, 2018, a customer filed an investment related complaint concerning Buchsbaum’s activities in which the customer requested damages estimated to exceed $5,000.00 supported by accusations that between July 20, 2017 and April 3, 2018, the customer’s account was negligently handled; fiduciary duties owed to the customer had been breached; and the customer’s options investments, held in a managed account, were poorly managed.
On December 31, 2018, another customer filed an investment related complaint regarding Buchsbaum’s conduct where the customer sought more than $5,000.00 in damages founded on allegations of the firm’s breach of fiduciary duties with regard to the disclosure of risks on investments held in the customer’s account between July of 2018 and December of 2018; and misleading or false statements being made to the customer concerning the risks of severe volatility in the customer’ investment portfolio and the losses sustained by the customer.
Moreover, a customer filed an investment related complaint involving Buchsbaum’s activities in which the customer requested unspecified damages based upon accusations that between February of 2018 and February 4, 2019, faulty sales tactics were utilized to induce the customer’s purchases and holding of investments which failed to comport with the customer’s tolerance for risk. Moreover, on March 7, 2019, a customer filed an investment related complaint concerning Buchsbaum’s conduct where the customer sought damages estimated to exceed $5,000.00 supported by allegations that between March 13, 2018 and November 16, 2018: Buchsbaum made false or misleading statements to the customer concerning the benefits of an investment strategy to be utilized in the customer’s managed account.
Buchsbaum has been employed by UBS Financial Services Inc. since November 20, 2015.
