Walter James Keating of Indian Wells California a stockbroker formerly employed by UBS Financial Services Inc. is referenced in a customer initiated investment related written complaint on April 25, 2016 where the customer requested damages estimated to exceed $5,000.00 supported by allegations that (1) Keating omitted information from the customer in regard to the customer’s risks of investments (2) Keating executed unauthorized trades in the customer’s account and (3) Keating placed the customer in unsuitable investments.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Keating is referenced in six more customer initiated investment related disputes pertaining to accusations of his misconduct while employed with UBS Financial Services Inc. and PaineWebber. In particular, on April 15, 1999, a customer initiated investment related complaint involving Keating’s conduct was settled for $9,000.00 in damages based upon allegations that the customer’s investment account had been mismanaged because transactions failed to reflect the customer’s financial profile.
Subsequently, a customer initiated investment related arbitration claim involving Keating’s activities was resolved for $30,000.00 in damages founded on accusations that Keating effected transactions in the customer’s account that were not suitable for the customer, breached his fiduciary duties to the customer, negligently handled the customer’s account, and defrauded the customer in regards to the customer’s over-the-counter equities holdings. National Association of Securities Dealers (NASD) Arbitration No. 99-04977 (May 15, 2000).
Moreover, on May 30, 2001, a customer initiated investment related complaint regarding Keating’s conduct was settled for $49,000.00 in damages supported by allegations that Keating: made false or misleading statements to the customer concerning real estate investment trusts purchased by the customer; omitted information concerning the risks of those products; and placed real estate backed securities purchases that were not appropriate for the customer.
Further, a customer initiated investment related arbitration claim regarding Keating’s activities was resolved for $30,000.00 in damages based upon accusations that Keating, inter alia: excessively traded in the customer’s investment account; breached fiduciary obligations; and placed the customer in an inappropriate real estate investment trust and limited partnership. NASD Arbitration No. 99-05607 (Sept. 22, 2000). On March 6, 2012, another customer initiated investment related complaint concerning Keating’s conduct was settled to resolve allegations of misrepresentation in regard to the customer’s structured products investments.
Keating has been registered with UBS Financial Services Inc. since May 4, 1979.
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