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Were You the Victim of UBS Financial Services Inc. Broker Kirk Badii?

Posted on Wednesday, February 19th, 2020 at 8:37 pm    

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Erez Law is currently investigating former UBS Financial Services Inc. broker Kirk Badii (CRD# 5829768) regarding investment losses. Badii has been registered with Independent Financial Group, LLC in Irvine, California since January 2020 and with Cantella & Co., Inc. in Los Angeles, California since September 2018. Previously, Badii was registered with Raymond James Financial Services, Inc. in Torrance, California from August to September 2018.

Prior to that, Badii was registered with UBS Financial Services Inc. in Los Angeles, California from 2012 to 2018, when he was terminated regarding, “FA was discharged after firm review found, among other things, that FA: (i) violated firm’s social media policy and blocked management’s ability to monitor his social media and (ii) violated firm’s KYC/AML policy in connection with the onboarding of certain clients and prospects.” Before that time, Badii was registered with Credit Suisse Securities (USA) LLC in Los Angeles, California from August 2011 to July 2012, when he was terminated regarding, “representative first asserted that another employee had sent correspondence outside the firm prior to its approval and then admitted that he had in fact sent the correspondence. The correspondence would have been approved, so the communication itself was not deemed problematic.”

Badii has been the subject of two customer complaints in 2019, one of which was denied, according to his CRD report:

April 2019. “Time frame: September 2016 through August 2018. Sophisticated, accredited investor clients allege FA recommended unsuitable and illiquid investments.” The case is currently pending. The complaint took place while Badii was registered with UBS Financial Services Inc. and was regarding private equity funds (hedge funds) and options.

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, former UBS Financial Services Inc. may be liable for investment or other losses suffered by Badii’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.