Scott Michael Rosenberg of New York, New York, a stockbroker currently registered with UBS Financial Services Inc., is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer sought $8,000,000.00 in damages based upon accusations that Rosenberg provided unsuitable recommendations and misrepresented information concerning an options overlay strategy that the customer invested in between 2017 and 2019 when Rosenberg was employed by UBS Financial Services. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-03099 (December 27, 2021).
FINRA Public Disclosure shows that Rosenberg has been identified in 24 additional customer initiated investment related disputes concerning allegations of his conduct while registered with securities broker dealers, including UBS Financial Services Inc. Rosenberg is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $420,000.00 based upon accusations that an options overlay strategy recommendation was misrepresented and unsuitable for the customer, resulting in damages on investment transactions in 2018. FINRA Arbitration No. 20-01504 (May 29, 2020).
On June 2, 2020, another customer filed an investment related FINRA securities arbitration claim concerning Rosenberg’s conduct where the customer requested $250,000.00 in damages supported by allegations of Rosenberg giving bad advice to the customer regarding investing and holding options as part of an overlay strategy effected in 2017. FINRA Arbitration No. 20-01517. According to the claim, Rosenberg made misrepresentations to the customer concerning the strategy.
Rosenberg is also referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer was awarded $89,675.00 in compensatory damages founded on the Arbitration Panel finding UBS Financial Services liable for having recommended an unsuitable Yield Enhancement Strategy (YES). FINRA Arbitration No. 19-00522 (December 22, 2020).
The stockbroker is identified in a different customer initiated investment related FINRA securities arbitration claim where the customer was awarded $357,831.22 in damages based upon UBS Financial Services being found liable on the customer’s causes of action, including breach of contract, breach of fiduciary duty, misrepresentation, unsuitability, fraud, and violation of FINRA rules and securities laws as it pertained to Yield Enhancement Strategy. FINRA Arbitration No. 19-02550 (September 15, 2021). The claim alleged that YES was represented as low-risk, but it contained substantial risks of loss.
Investors also brought a class action lawsuit concerning Rosenberg in which the investors sought $1,200,000,000.00 in damages supported by accusations of nondisclosures of risks concerning Yield Enhancement Strategy during the time that Rosenberg was associated with UBS Financial Services. Civil Action No. 1:21-cv-10361 (Dec. 10, 2021).
Rosenberg is identified in a customer initiated investment related FINRA securities arbitration claim which was settled for $1,100,000.00 in damages supported by accusations of misrepresentation and unsuitable advice by Rosenberg regarding an options overlay strategy executed in the customer’s UBS Financial Services account between 2017 and 2020. FINRA Arbitration No. 20-01326 (January 18, 2022).
Rosenberg has been employed by UBS Financial Services as a stockbroker and investment adviser representative since November 20, 2015.
