Erez Law is currently investigating former UBS Financial Services Inc. broker Jeff Carlton (CRD# 1132967) regarding exchange-traded funds (ETF) investment loss allegations. He has been registered with Aegis Capital Corp. in Melville, New York, since 2023. Previously, he was registered with UBS Financial Services Inc. in Mclean, Virginia, from 2007 to 2024, when he was terminated regarding, “Allegations Employee was discharged for loss of confidence after he violated firm policy by soliciting leveraged ETFs and mismarking trades as unsolicited.”
Jeff Carlton Customer Complaints
He has been the subject of seven customer complaints between 2012 and 2017, according to his CRD report. The most recent complaints are regarding:
February 2017. “Time Frame: January 4, 2016 to February 23, 2017 What were the allegations against the individual? The client alleges they had issues regarding the number of trades and the overall commissions regarding the trading strategy they were employing with their FA.” The case was settled for $657,998.24. The complaint was regarding ETFs.
November 2016. “Time frame: Sept. 2007 – September 2016 Claimants allege that Respondent recommended unsuitable and concentrated positions in the energy sector.” The customer sought $525,000 in damages, and the case was settled for $295,000. The complaint was regarding equities and LPs.
October 2015. “Claimant alleges that Respondent recommended unsuitable and concentrated positions in mutual funds, ETFs and equity investments. Time Frame: November 2010 – April 2015.” The customer sought $1,264,355 in damages, and the case was settled for $575,000. The complaint was regarding mutual funds, ETFs, and quities.
January 2015. “Client alleges suitability and concentration in real estate limited partnerships and oil and gas stocks. time frame: 2007 – January 2015.” The case was settled for $28,000. The complaint was regarding equity OTC and limited partnerships.
March 2014. “Time frame: not specified client’ alleges that the investment in her account were not suitable for some one of her investment experience, was not properly diversified and did not meet her investment objectives. client further alleges that the risks were not fully explained or disclosed to her regarding these types of investments.” The customer sought $311,287 in damages, and the case was settled for $185,000. The complaint was regarding exchange traded notes.
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 Jeff Carlton’s 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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