Were you the victim of investment losses due to recommendations by UBS Financial Services Inc. broker Barry Schwartz (CRD# 1022377)? He has been registered with UBS Financial Services Inc. in Miami, Florida, since 2013.
In July 2013, the state of Florida sanctioned him to pay a $22,500 civil and administrative penalty and fine following allegations that he engaged in an “unregistered investment advisory business.”
Barry Schwartz Customer Complaints
He has been the subject of two customer complaints between 1997 and 2023, according to his CRD report. The most recent complaint was regarding:
December 2023. “Time frame: January 2021 to February 2022 Allegations: Claimants allege unsuitability and overconcentration of certain investments, and that such investments resulted in principal losses. Claimants further allege misrepresentation with respect to the handling of Claimants’ investment accounts.” The customer is seeking $1 million in damages, and the case is currently pending. The complaint was regarding equities and alternative investments.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, UBS Financial Services Inc. may be liable for investment or other losses suffered by Barry Schwartz’ customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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