Former UBS Financial Services Inc. broker Clifford Virgin III (CRD# 1878876) faces a customer complaint related to misappropriation. He has been registered with RBC Capital Markets, LLC in Florham Park, New Jersey, since 2021. Previously, he was registered with UBS Financial Services Inc. in Florham Park, New Jersey, from 2008 to 2021.
Clifford Virgin III Customer Complaints
He has been the subject of five customer complaints between 1999 and 2023, one of which was withdrawn, according to his CRD report. The most recent complaints were regarding:
March 2023. “Time Frame: April 3rd, 2020 to June 4th, 2021 What were the allegations against the individual? The client alleges his account was heavily concentrated, illiquid, unsuitable, and inappropriate based on market conditions. The client further alleges his Financial Advisor did not follow his stated account preferences and risk tolerance. The client finally alleges the account was not managed in his best interest.” The customer is seeking $63,059.13 in damages.
September 2022. “Time frame: 2017-2019 Claimant’s counsel alleges that UBS and the named employees allowed a wrongful transfer of title to the Customer’s investment accounts, resulting in alleged misappropriation following the Customer’s passing.” The customer is seeking $1.9 million in damages.
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 Clifford Virgin III’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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