Russell G. Cappelen Jr. of Vero Beach Florida a stockbroker currently registered with UBS Financial Services Inc. is the subject of a customer initiated investment related written complaint which settled for $14,658.37 in damages founded on accusations that Cappelen effected mutual fund transactions that were not appropriate for the customer because the investments failed to conform to the customer’s conservative risk tolerance.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Cappelen has been identified in four additional customer initiated investment related disputes containing allegations of his violative conduct during the time he was employed by Prudential Securities Incorporated and Merrill Lynch, Pierce, Fenner & Smith Incorporated. Specifically, on March 15, 2000, a customer initiated investment related complaint concerning Cappelen’s activities was resolved for $4,300.00 in damages based upon accusations that Cappelen poorly advised the customer regarding the purchase of shares in Iridium World Communications Stock.
Subsequently, on May 8, 2000, a customer initiated investment related complaint regarding Cappelen’s conduct was settled for $15,591.45 in damages supported by allegations that the customer was placed into two variable annuities that the customer never authorized.
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