MIAMI and LOS ANGELES, June 30, 2022 (GLOBE NEWSWIRE) -- National investment fraud law firm Dimond Kaplan & Rothstein, P.A. (“DKR”) (http://www.dkrpa.com) alerts investors that the Securities and Exchange Commission (“SEC”) has fined UBS Financial Services, Inc. (“UBS”) $25 million for misconduct relating to UBS’s sales of the UBS Yield Enhancement Strategy (“YES”). UBS is a subsidiary of UBS Group A.G. (NYSE: UBS).
YES is a complex options strategy that UBS sold as a way for investors to receive a modest amount of income. The SEC found that UBS failed to adequately train its brokers about YES and failed to disclose to investors (or even to UBS brokers) the significant downside risk of YES, which UBS’s daily internal reports reflected. The SEC also found that UBS’s risk disclosures were inadequate and that UBS engaged in “fraud and deceit” upon YES investors.
Dimond Kaplan & Rothstein, P.A. Has Recovered Millions of Dollars for YES Investors
Dimond Kaplan & Rothstein, P.A. has been representing YES investors since early 2019. To date, DKR has recovered YES losses for more than 20 YES investors and the firm continues to prosecute YES cases for clients throughout the United States.
The SEC’s findings against UBS are consistent with the theories that DKR has been using in its cases against UBS. Based on numerous discussions with UBS brokers, it is apparent that in addition to failing to disclose information about YES to investors, UBS even kept important information about YES from its own brokers. As a result, we believe that many UBS brokers did not understand YES.
YES Loss Recovery Through FINRA Arbitration
UBS YES investors can file FINRA arbitration claims in an effort to recover their losses. FINRA arbitration is a private dispute resolution process for disputes with brokerage firms.
If you lost money in the UBS YES options strategy, contact Dimond Kaplan & Rothstein, P.A. DKR has extensive experience representing YES investors. With offices in Miami, Los Angeles, West Palm Beach, and New York Dimond Kaplan & Rothstein, P.A. represents investors throughout the United States, Mexico, and Latin America in stockbroker negligence and brokerage firm misconduct cases.
Contact:
Jeffrey B. Kaplan, Esq.
jkaplan@dkrpa.com
2665 S. Bayshore Drive
Penthouse 2B
Miami, Florida 33133
(888) 578-6255
URL http://www.dkrpa.com
2029 Century Park East
Century Plaza Tower
Suite 400N
Los Angeles, CA 90067
(888) 578-6255
