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Former UBS Financial Services Inc. Broker Eladio Santiago Accused of Unsuitable Investment Recommendations

Posted on Tuesday, July 14th, 2020 at 2:51 pm    

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Erez Law is currently investigating former UBS Financial Services Inc. broker Eladio Santiago (CRD# 3060628) regarding unsuitable investment recommendations. Santiago has been registered with Cambridge Investment Research, Inc. in Fulton, Maryland since 2018. Previously, Santiago was registered with UBS Financial Services Inc. in Baltimore, Maryland from 2012 to 2018. 

Santiago has been the subject of three customer complaints between 2002 and 2020, one of which was closed without action, according to his CRD report:

February 2020. “Time frame: 2014-present Claimant’s counsel alleges unsuitability and mismanagement with respect to recommendations and handling of accounts.” The case is currently pending. The complaint was regarding equities and took place while Santiago was registered with UBS Financial Services Inc.

August 2019. “Time frame: November 2012 – October 2018 Claimant’s counsel alleges unsuitability and mismanagement with respect to recommendations and handling of accounts.” The customer is seeking $350,000 in damages and the case is currently pending. The complaint took place while Santiago was registered with UBS Financial Services Inc.

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 Santiago’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.