Stephen Douglas Wood of Bedminster New Jersey a stockbroker currently employed by UBS Financial Services Inc. has been identified in an investigation initiated by Financial Industry Regulatory Authority (FINRA) on April 2, 2019 into accusations that (1) Wood failed to comply with FINRA Rule 2010 and NASD Rule 2510(b) by effecting purchases or sales of investments on a discretionary basis without obtaining written permission from two customers of the securities broker dealer and (2) the stockbroker failed to make required public disclosures when employed by UBS Financial.

FINRA Public Disclosure also reveals that Wood has been suspended from associating with any FINRA member in any capacity supported by allegations that the stockbroker neglected to comply with a customer initiated investment related arbitration award or settlement agreement or otherwise confirm his compliance with FINRA. Case No. 17-01095 (Nov. 2, 2018).

Wood has been referenced in three customer initiated investment related disputes concerning accusations of his improprieties when the stockbroker was associated with securities broker dealers including Merrill Lynch Pierce Fenner Smith Incorporated. Particularly, a customer initiated investment related complaint in reference to Wood’s conduct was resolved for $29,750.00 in damages based upon accusations that when Wood was associated with Merrill Lynch, retirement account transactions were unsuitable given the customer’s investment profile and had generated losses for the customer’s account.

Another customer filed an investment related complaint involving Wood’s conduct in which the customer requested $20,000.00 in damages based upon allegations that when Wood was associated with Merrill Lynch, the customer’s investment instructions were not followed by the stockbroker as it pertained to over the counter equities, and misrepresentations were made to the customer regarding the terms or risks of equities traded by the stockbroker.

Wood has also been identified in a customer initiated investment related arbitration claim where the customer was awarded $301,423.00 in compensatory damages based on Wood being found liable on the customer’s claims which included that transactions failed to be adequately supervised by the securities broker dealer, a contract pertaining to the customer’s investments was breached, the customer’s account had been negligently administered, transactions were unsuitable and failed to comply with New Jersey securities laws and regulations, false or misleading statements had been made in regard to the terms and conditions of investments, and the customer was defrauded by purchasing investments through Wood when he was employed by UBS Financial. FINRA Arbitration No. 17-01095 (Aug. 16, 2018).

Wood’s registration with UBS Financial Services was terminated on May 26, 2017.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

Questions or comments regarding the source or accuracy of any information, including any subsequent developments, should be directed to:  [email protected]

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer.

Guiliano Law Group, P.C.

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from all over the United States and several foreign countries. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitration.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com

Stockbroker Fraud. Securities Arbitration and Investment Fraud Lawyers.  
National Practice. Contingent Fee. Confidential Free Consultation.

 (877) SEC-ATTY

1700 Market Street, Suite 1005
Philadelphia, PA 19103
Direct: (215) 413-8223
Toll Free: (877) 732-2889

1260 South Soto Street, Suite 7
Los Angeles, California 90023
Direct: (213) 255-3475
Toll Free: (877) 732-2889

2750 NE 185th Street, Suite 302
Aventura, Florida 33180-2877
Direct: (786) 490-2413
Toll Free: (877) 732-2889

See Important Disclaimer

Tags: ,

No comments yet.

Leave a Reply

Name (required)

Email (will not be published) (required)

Website