John Carolyn of Houston, Texas, a stockbroker formerly registered with UBS Financial Services Inc., is the subject of a customer initiated investment related arbitration claim, which settled on August 16, 2017, for $34,000.00 in damages based on allegations that from 2014 to 2016, Carolyn placed unsuitable stock transactions in the customer’s account, causing the customer’s investment holdings to be inappropriately concentrated in oil & gas investments. Arbitration Case No. 17-00513 (Aug. 16, 2017).
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Carolyn has been subject of five more customer initiated investment related disputes containing allegations of Carolyn’s misconduct during the time he was associated with UBS Financial Services, Inc. Particularly, on August 25, 2015, a customer filed an investment related written complaint involving Carolyn’s conduct, in which the customer sought $59,000.00 in damages based upon allegations that in August 24, 2015, Carolyn made misrepresentations to the customer concerning the risks of investments in the customer’s managed wrap account.
Additionally, on June 21, 2016, a customer filed an investment related arbitration claim involving Carolyn’s conduct, in which the customer sought $750,000.00 in damages based upon allegations that Carolyn made unsuitable investment recommendations to the customer concerning energy securities placed in the customer’s account between 2007 and 2016.
On May 4, 2017, a customer initiated investment related arbitration claim regarding Carolyn’s activities was resolved for $57,800.00 in damages based upon allegations that Carolyn over-concentrated the customer’s portfolio in oil and gas, and placed unsuitable energy stock trades between 2008 and 2016.
Carolyn has been registered with UBS Financial Services Inc. since April 5, 2002.
Guiliano Law Group
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