Thomas Abbitt Jenkins Jr. (also known as Tom Jenkins), of Houston, Texas, a stockbroker registered with UBS Financial Services Inc., is the subject of a customer initiated investment related civil action in which the customer requested $1,000,000.00 in damages based upon allegations that Jenkins was negligent and breached his fiduciary duties in connection with the sale of fixed income and equities when Jenkins was associated with UBS Financial Services Inc. Civil Action No. 2024-11380 (July 30, 2024). Allegedly, the matter involves tax liabilities incurred as the result of the failure to transfer assets to certain trusts. It is unknown why the matter was filed in Texas state court as opposed to mandatory arbitration before FINRA Dispute Resolution. As a general matter, customers are required to review their customer statements, and stockbrokers, absent an affirmative undertaking, have no duty to provide customers with tax advice.
This is not the first time that Jenkins has been referenced in a customer initiated investment related dispute concerning Jenkins’ conduct in the securities industry. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Jenkins is also referenced in a customer initiated investment related complaint filed on December 11, 2001, in which the customer requested damages based upon allegations that Jenkins engaged in unauthorized trading in over-the-counter equities when Jenkins was associated with Merrill Lynch. This dispute was found to be without merit and was closed without further action by the customer.
On April 7, 2006, another customer filed an investment related complaint involving Jenkins’ conduct in which the customer requested $400,000.00 in damages based upon allegations that Jenkins engaged in unsuitable trading in stocks when Jenkins was associated with Merrill Lynch. This complaint was also denied.
Jenkins has been associated with UBS Financial Services Inc. in Houston, Texas since September 7, 2010.
