Top-Ranked UBS Advisor in Las Vegas Wins Expungement With Help From Client

Posted on May 1st, 2023 at 1:29 PM
Top-Ranked UBS Advisor in Las Vegas Wins Expungement With Help From Client

From the desk of Jim Eccleston at Eccleston Law 

A top-ranked Las Vegas-based UBS financial advisor has prevailed in his expungement hearing with the help of the customer who initially had filed the complaint. 

A sole Financial Industry Regulatory Authority (FINRA) arbitrator granted the advisor expungement of a dispute that was settled in June 2020 after determining that the disclosure was “misleading” and the fault of a sales assistant, according to the award. The client had alleged that Keller sold the wrong position in December 2020, “as the instructions were to sell the client’s mutual fund but [Slack Technologies Inc.] (WORK) was sold instead.” The parties settled for $8,149, according to BrokerCheck.

However, the arbitrator determined that the advisor had properly relayed and subsequently repeated the instructions for clarity to a sales assistant, who then incorrectly sold stock rather than mutual fund holdings. The trade was reversed, and the client was reimbursed after the error was discovered. The client, who remains one of the advisor’s customers, sent an email message voicing his support of the expungement, according to the award.

 

Eccleston Law LLC represents financial advisors and investors nationwide in securities, employment, transition, regulatory and disciplinary matters.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next

Jim, Stephany and the whole team were a God send.  We felt like we were put into a situation where we had no advocate. Jim’s team came in with a strong, well laid out strategy on how to get our story heard. Where our outside compliance company had no ability to help, our Broker Dealer was impenitent, and the regulators were aggressive pursuing vague rules, Jim came like a barricade against an assault we did not understand. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. The only thing that is truly heard in this un-level playing field is a bulldog’s bark like Jim’s. I would encourage anyone to call Jim and his team to find a real ally in the tough and complicated world of securities regulation. They are truly the best.

Greg P.

LATEST NEWS AND ARTICLES

February 11, 2025
UnitedHealth Group Agrees to $69 Million Settlement in ERISA Class Action Lawsuit

UnitedHealth Group has agreed to pay $69 million to resolve a class action lawsuit alleging violations of its fiduciary duties under the Employee Retirement Income Security Act of 1974 (ERISA).

February 10, 2025
Former Merrill Lynch Advisor Sanctioned by FINRA for Unauthorized Trades

FINRA has fined Anthony J. Seifert, a former Merrill Lynch advisor based in Mount Pleasant, South Carolina, $5,000 and suspended him for 20 days.

February 7, 2025
Court Finds American Airlines Breached Fiduciary Duty in 401(k) ESG Case

A federal court ruling against American Airlines has brought attention to the role of environmental, social, and governance (ESG) factors in managing retirement plans.