Roderick K. Von Lipsey, of Washington, District of Columbia, a stockbroker registered with UBS Financial Services Inc., is the subject of four customer initiated investment related disputes alleging sales practice violations such as unsuitable recommendations and misrepresentation.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that on August 10, 2020, a customer filed an investment related FINRA securties arbitration claim involving Von Lipsey’s, alleging violations of Virginia Securities Act. The claim also alleged securities fraud, breach of contract, breach of fiduciary duty, negligence, negligent supervision, failure to supervise, and unsuitable recommendations. The customer sought $445,894.00 in damages. On December 28, 2021, an Arbitration Panel issued an Award ordering UBS Financial Services to pay the customer $218,699.29 in compensatory damages. FINRA Arbitration No. 20-02555.
In another case, a customer filed an investment related complaint on July 22, 2020, alleging unsuitable recommendations and misrepresentations of material fact in connection with an options overlay strategy as well as investments in master limited partnerships (MLPs), private equity funds, and hedge funds. The customer sought $1,700,000.00 in damages. On April 19, 2022, the dispute was settled, with UBS Financial Services paying $409,000.00 to the customer. FINRA Arbitration No. 20-02299.
A third customer initiated investment related dispute was filed on October 28, 2019, involving allegations of unsuitability and misrepresentation related to an options overlay strategy. The customer requested $500,000.00 in damages. On April 21, 2023, UBS Financial Services settled the case for $185,000.00. FINRA Arbitration No. 19-03200.
In a fourth case, a customer filed an investment related complaint on September 19, 2019, alleging unsuitable recommendations and misrepresentations of material fact in connection with an options overlay strategy. The customer sought $1,400,000.00 in damages. The case was settled on January 30, 2023, with UBS Financial Services paying $605,000.00. FINRA Arbitration No. 19-02753.
Von Lipsey has been associated with UBS Financial Services Inc. as a stockbroker since September 13, 2007, and as an investment advisor representative since October 18, 2007.
