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SEC Orders UBS to Pay $8 Million Related to Complex ETP Sales

SEC Orders UBS to Pay $8 Million Related to Complex ETP Sales

Posted on Monday, July 26th, 2021 at 7:56 pm    

In July 2020, the Securities and Exchange Commission (SEC) ordered UBS Financial Services to pay $8 million, as well as $96,344 in disgorgement and $15,930 in interest, related to sales of complex exchange-traded products (ETPs), which were unsuitable for many investors. The SEC alleged that between January 2016 and January 2018, UBS Financial Services brokers… Read More

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Former Financial West Group Broker Efrain Trujillo Investment Loss Options

Posted on Monday, March 8th, 2021 at 7:01 pm    

Erez Law is currently investigating former Financial West Group broker Efrain Trujillo (CRD# 3106482) who suffered investment losses. Trujillo has been registered with Western International Securities, Inc. in Los Angeles, California since 2017. Previously, Trujillo was registered with Financial West Group in Los Angeles, California from 2012 to 2017.  In November 2020, FINRA barred Trujillo… Read More

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J.P. Morgan Pays $650,000 Fine and Restitution to Customers Regarding Volatility-Linked ETPs

Posted on Tuesday, January 19th, 2021 at 10:45 pm    

In June 2020, J.P. Morgan was ordered by FINRA to pay $650,000, which included $325,000 in fines as well as $333,619.34 in restitution, plus interest, to its customers regarding supervisory issues related to the sale of volatility-linked exchange-traded products (ETPs). Volatility-linked ETPs pay a high fee to the brokers that sell them. According to FINRA,… Read More

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