The Financial Industry Regulatory Authority (“FINRA”) ordered UBS Financial Services Inc. to pay more than $11 million to a former supervisor who claimed the firm defamed him in explaining his departure.
Tagged with "UBS"
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FINRA Orders UBS to Pay Over $11 Million in Defamation Case
Posted on December 17th, 2019 at 2:54 PM
UBS Pays $1.5 Million Gender Discrimination Award to Ex-Broker
Posted on November 14th, 2019 at 11:46 AM
A former star broker at UBS Group AG won a more than $1.5 million arbitration award after she alleged gender discrimination against her former employer and its Boston-based branch manager.
FINRA’s Ten Largest BD Arbitration Awards in 2019
Posted on October 16th, 2019 at 2:29 PM
As the year comes to an end, ThinkAdvisor has released the Financial Industry Regulatory Authority’s (FINRA’s) 10 largest broker-dealer (BD) arbitration awards in 2019. They are, in order from highest to lowest:
Disappearing Covenants In The Age Of Private Equity
Posted on June 6th, 2019 at 12:08 PM
Bloomberg has published an article entitled, “The Birth and Death of Covenants.” The article highlights the latest trend in the tug of war between private equity firms and lenders. That trend is to agree to weaker and fewer covenants, which generally make it easier for private equity firms and other equity investors to divest assets and possibly keep such assets out of the reach of lenders.
HighTower Advisors to Exit Broker Protocol
Posted on May 14th, 2019 at 4:02 PM
HighTower Advisors has announced that the $50 billion RIA will exit the Broker Protocol. HighTower’s exit follows the departure of Morgan Stanley and then UBS in late 2017.
Trim the Fat: UBS Constraints on New Banking Hires
Posted on May 7th, 2019 at 4:19 PM
After one of the worst first quarters in the recent history of UBS, the wealth management group is now experiencing a significant downsize. How significant? UBS now has to cut nearly $300 million in costs for a chance at recovery.
Regional Firms Are Becoming More Attractive as Wirehouses Lose Competitive Edge
Posted on April 1st, 2019 at 11:56 AM
Recently, regional firms such as Raymond James, Stifel, Ameriprise, and Janney Montgomery Scott have become a favored destination for many successful wirehouse advisors who have transitioned away from the wirehouses.
Independent Broker-Dealers Continue to Register Large Asset Growth
Posted on December 12th, 2018 at 10:08 AM
According to a recent report issued by industry consultant Cerulli; independent broker-dealers (IBDs) have posted the highest compound annual growth rate in the last five years in comparison to any other type of broker-dealer.
Customer Files FINRA Arbitration Claim Against UBS Over Its Failure to Supervise Former Broker
Posted on December 7th, 2018 at 2:34 PM
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.
UBS and Morgan Stanley’s Decision to Leave the Protocol for Broker Recruiting Has Paid Off for Them
Posted on December 6th, 2018 at 9:37 AM
Since UBS and Morgan Stanley’s decision to pull out of the Protocol for Broker Recruiting last year, the number of advisors departing those firms appears to have slowed. This is good news for Morgan Stanley and UBS which want to reduce recruiting costs and instead focus on the growth of their advisors’ book of business through investments in technology.
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