The Financial Industry Regulatory Authority (FINRA) licenses and regulates the stock brokerage industry. It requires stock brokerage firms and their stock brokers to be qualified, registered, and approved by the agency before they may offer and sell securities to the public. FINRA also requires its registrants to immediately report regulatory events, such as suspensions, fines, and customer complaints, against the firm and broker. FINRA maintains a database of investor complaints and disciplinary and employment history for registered representatives and publishes some of this information on its BrokerCheck website, www.brokercheck.finra.org. The FINRA BrokerCheck is purportedly useful for predicting future broker misconduct. Unfortunately, not all customer complaints are accurately or completely reported on the website. We are seeking investors with information about UBS Financial Services broker Bradley J. Ross to determine whether the reported information on the FINRA BrokerCheck website is accurate and complete.
FINRA reports that Mr. Ross has been registered in the securities industry since 1985. Over the years, he has been registered with 11 brokerage firms: Dean Witter Reynolds Inc., Legg Mason Wood Walker Inc., Prudential Securities Inc., Dunhill Equities Inc., Meridian Dunhill and Co. Inc., First Montauk Securities Corp., Coburn and Meredith Inc., Gruntal and Co. LLC, Janny Montgomery Scott LLC, Raymond James and Associates Inc., and most recently UBS Financial Services Inc. During that period, the FINRA BrokerCheck Report indicates that Mr. Ross has been the subject of 7 Customer Disputes, one of which was pending as of August 18, 2016.
One customer dispute was resolved with an award against UBS Financial Services and Mr. Ross in favor of the customer who was awarded $225,000 in connection with the offer and sale of commodities funds. There are customer disputes with allegations of fraud, breach of fiduciary duty, violation of FINRA rules, and failure to supervise that have supposedly settled for amounts ranging from $15,000 to $160,000. One customer dispute was rejected by the brokerage firm and supposedly no further action was taken by the customer. There was one pending arbitration reportedly filed involving for allegedly over concentrating clients accounts and engaging in unauthorized trading with respect to certain securities which are historically used as hedges against the market and inflation while he was employed at UBS Financial Services. We believe that Mr. Ross's employers may have not accurately or completely reported all of the Customer Disputes involving him and request that all investors with complaints against Mr. Ross contact our office immediately.
The most important of investors' rights is the right to be informed! We intend to notify FINRA of any and all unreported or inaccurate customer complaints against this firm and/or broker. This blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 35 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to protecting investors' rights throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at email@example.com for answers to any of your questions about this blog post and/or any related matter.