James Brian Cain of Beverly Hills California a stockbroker currently registered with UBS Financial Services Inc. is the subject of a customer initiated investment related written complaint on January 4, 2018 where the customer requested $45,000.00 in damages founded on accusations that between July 18, 2014 and January 4, 2018: (1) the customer was placed into structured products without the customer being provided information about the irrevocability of the investment and (2) the structured product was in no way suitable for the customer given the customer’s tolerance for risk.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Cain is referenced in three additional customer initiated investment related disputes pertaining to allegations of his misconduct during the time that he was associated with PaineWebber Incorporated and UBS Financial Services Inc. In particular, a customer initiated investment related arbitration claim involving Cain’s activities was settled to resolve accusations that the customer’s assets had been mismanaged during the time that Cain was associated with PaineWebber; and mutual fund transactions executed in the customer’s account were not appropriate for the customer.
On September 8, 2017, another customer initiated investment related complaint involving Cain’s conduct was settled for $50,000.00 in damages based upon allegations that between January of 2016 and April of 2017, while Cain was associated with UBS Financial Services, structured product investments held in the customer’s investment account were not appropriate given the customer’s age and needs of accessing funds for expenses. Additionally, on December 4, 2017, a customer initiated investment related complaint concerning Cain’s activities was resolved for $145,000.00 in damages supported by accusations that the customer was placed into structured products between January of 2014 and December of 2016 which failed to conform to the customer’s goal of principal preservation; and risks and the illiquidity of the structured products had not been disclosed to the customer at the time the customer purchased the investments.
Cain has been employed by UBS Financial Services Inc. since August 16, 2011.
