There are options for customers of UBS Financial Services Inc. broker Patrick Moriarty (CRD# 4764378) regarding municipal debt losses. He has been registered with UBS Financial Services Inc. in Boston, Massachusetts, from 2007 to 2024, when he was terminated regarding, “Discharged after review determined he violated firm policies by taking discretion in accounts, making inaccurate attestations in connection with money movements, and not being forthcoming regarding the investigation.”
In April 2025, Massachusetts Securities Division sanctioned him to a consent order and conditional registration following these allegations: “Due to recent disclosure incidents regarding exercising discretion in client accounts without obtaining prior permission, the Division placed conditions on Moriarty’s registration as an IAR of Aegis in Massachusetts.”
For a period of 3 years, Aegis must supervise Moriarty on a heightened basis which must, at a minimum, include the following: Moriarty’s Aegis Supervisor, must on quarterly basis: (1) randomly select and review the greater of ten (10), or ten percent (10%), of Moriarty’s Massachusetts Client accounts; (2) review twenty-five percent (25%) of Moriarty’s emails, all documents requiring a Client’s signature, and all trade corrections; (3) contact ten (10) of Moriarty’s Clients to confirm the Clients gave approval for transactions and were aware of associated commissions and fees; (4) obtain and review an attestation signed by Moriarty stating he obtained approval from Clients prior to transactions; (5) obtain and review a written statement, signed by Moriarty, in which Moriarty indicates that he has not contacted any Clients through unapproved outside communication channels; The compliance department’s annual audit must (1) be conducted on-site; (2) a mandatory review of all of Moriarty’s Massachusetts Clients accounts; (3) an in-person interview with Moriarty; and (4) a mandatory review of Moriarty’s personnel file to ensure compliance with this Order.
Patrick Moriarty Customer Complaints
He has been the subject of two customer complaints between 2008 and 2024, one of which was denied, according to his CRD report:
April 2024. “Time Frame: January 3rd, 2022 to December 29th, 2023 What were the allegations against the individual – The Client alleges the Financial Advisor did unauthorized trading in the account and realized losses in excess of 1.1M dollars.” The case was settled for $1,000,000. The complaint was regarding municipal debt, bonds, notes, and zeroes.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, UBS Financial Services Inc. may be liable for investment or other losses suffered by Patrick Moriarty’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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