Did you lose money investing with UBS Financial Services Inc. broker John Sommo (CRD# 3141638)? He was registered with UBS Financial Services Inc. in New Haven, Connecticut, from 2009 to 2020.
In April 2022, FINRA barred him after he failed to respond to FINRA requests for information.
John Sommo Customer Complaints
He has been the subject of four customer complaints between 2008 and 2022, one of which was denied, according to his CRD report. The most recent complaints were regarding:
July 2022. “Time frame: September 2015 to September 2020 Allegations: Claimants’ counsel alleges unsuitability and overconcentration of certain investments, and that such investments resulted in principal losses. Claimants’ counsel further alleges misrepresentation and unauthorized trading with respect to the handling of Claimants’ investment accounts.” The complaint was related to equities investment losses, and it took place while he was registered with UBS Financial Services Inc.
September 2020. “Time Frame: December 2, 2015 to January 31, 2020 What were the allegations against the individual? The client alleges she was placed in unsuitable securities and was overconcentrated in the MLP energy sector. The alleged damages are estimated to be in excess of $5,000.” The case was settled for $30,000. The complaint was related to direct investments, and it took place while he was registered with UBS Financial Services Inc.
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 John Sommo’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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