Customer Files FINRA Arbitration Claim Against UBS Over Its Failure to Supervise Former Broker

Posted on December 7th, 2018 at 2:34 PM
Customer Files FINRA Arbitration Claim Against UBS Over Its Failure to Supervise Former Broker

From the Desk of Jim Eccleston at Eccleston Law LLC:

UBS Financial Services is facing a claim from a customer that it failed to supervise one of its former brokers, Alex G. Herrera of Coral Gables, Florida.

According to the complaint, Mr. Herrera used his customer’s funds to buy a villa in Coral Gables. Mr. Herrera then renovated the property in order to increase its value and eventually sold the villa. He used the profits from the sale to buy himself a vacation home in North Carolina. 

The complaint also accuses UBS of charging the customer more than $500,000 in commissions and fees without showing any investment returns or profits during a strong market.

Mr. Herrera entered the securities industry in June 1999 and had been registered with UBS from March 2012 until he was terminated in May of 2018. 

Eccleston Law is investigating the fraudulent activities of Alex G. Herrera. Those with information should contact our law firm.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: james eccleston, eccleston law, eccleston law llc, eccleston, finra, ubs, ubs financial services

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Thank you for your professional assistance with this matter. You are very good at what you do.

John T.


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