Robert Edward DeForest of West Palm Beach Florida is a stockbroker currently registered with UBS Financial Services Inc. who is the subject of a customer initiated investment related arbitration claim where the customer sought $95,000.00 in damages based upon allegations that DeForest recommended trigger yield optimization notes between June of 2014 and September of 2015 that were not suitable for the customer because they failed to conform to the customer’s tolerance for risk and objectives for investing. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-03269 (Nov. 17, 2017).
FINRA Public Disclosure additionally reveals that DeForest was named in a customer initiated investment related arbitration claim concerning his conduct while registered with Wachovia Securities, LLC, in which he was ordered to pay $39,600.00 in compensatory damages to the customer after having been found liable on the customer’s claims of misrepresentation and breach of fiduciary duty relating to the payout and composition of real estate investment trusts. FINRA Arbitration No. 06-02094 (Oct. 10, 2017). Wachovia Securities LLC was also found by the Arbitration Panel to be liable for failing to supervise DeForest’s activities and ordered to pay the customer $342,400.00 in compensatory damages.
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