UBS Financial Services Named In FINRA Securities Arbitration

William Jeffrey Carlton, of Vienna, Virginia, a stockbroker currently registered with UBS Financial Services Inc., has been named in a customer initiated investment related arbitration claim on November 10, 2016, in which the customer requested $525,000.00 in damages based upon allegations that Carlton effected unsuitable equity and limited partnership interest transactions in the customer’s account, and overconcentrated the customer’s portfolio in energy sector holdings.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Carlton has been identified in five additional customer initiated investment related disputes containing allegations of his misconduct while employed with UBS Financial Services Inc. Specifically, on February 20, 2015, a customer initiated investment related arbitration claim involving Carlton’s conduct was settled for $130,000.00 in damages based upon allegations that Carlton made misrepresentations to the customer concerning investments, churned the customer’s account, negligently handled the customer’s assets, breached his contractual and fiduciary duties, and effected unsuitable and unauthorized mutual fund and exchange traded fund transactions in the customer’s account. The customer additionally alleged that UBS Financial Services failed to supervise Carlton’s activities.
Additionally, on October 18, 2013, a customer initiated investment related written complaint regarding Carlton’s activities was resolved for $187,000.00 in damages based upon allegations that Carlton effected unauthorized trades in the customer’s account. On May 19, 2014, another customer initiated investment related written complaint involving Carlton’s conduct was settled for $185,000.00 in damages based upon allegations that Carlton made omissions to the customer concerning the risks of exchange traded notes, effected transactions in the customer’s account which were not suitable, and failed to diversify the customer’s investment portfolio.
On August 10, 2015, a customer initiated investment related written complaint regarding Carlton’s activities was resolved for $28,000.00 in damages based upon allegations that from 2007 to 2015, Carlton effected over-the-counter equities and limited partnership interest transactions in the customer’s account which were not suitable, and overconcentrated the customer’s assets in real estate. On October 21, 2015, another customer filed an investment related arbitration claim involving Carlton’s conduct, in which the customer requested $1,264,355.00 in damages based upon allegations that Carlton effected unsuitable transactions in the customer’s account pertaining to equities, exchange traded funds, and mutual funds.