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FINRA Grants Largest Ever Award for UBS YES Case

Nearly $1.9 Million Awarded to Customers in UBS Yield Enhancement Strategy

Financial Industry Regulatory Authority (FINRA) arbitrators have awarded over $1,875,000 to two family trusts involving the late Irving Siegel. The award marks the largest ever granted by FINRA to an investor who sustained losses after investing in the UBS Yield Enhancement Strategy (YES). 

At Meyer Wilson, we represent individuals who have suffered losses as a result of investment fraud or adviser misconduct. All we handle are investor claims, and we have helped our clients recover over $350 million in investment losses. If you invested in a UBS Yield Enhancement Strategy (YES) and suffered losses, contact our office at (800) 738-1960 for a free consultation. 

$1.875M Arbitration Award for UBS YES Losses

FINRA arbitrators have awarded two trusts nearly $1.9 million in a record-setting case after claimants asserted that the company engaged in fraud, misrepresentation, unsuitability, breach of fiduciary duty, negligence, and breach of contract. According to publicly available records, the arbitration award was in relation to investment in the Yield Enhancement Strategy (YES) offering with UBS Financial. 

UBS’s YES product has come under scrutiny as over 1000 investors have come forward with allegations of significant losses. Many investors claim that the product was offered as a safe options strategy not affected by market fluctuations. It was said to have limited risk and that inventors should expect to receive a 2 to 3% market increase year over year. In reality, the Yield Enhancement Strategy was incredibly risky and suffered catastrophic losses.

UBS YES Results in Huge Investor Losses

Despite what was allegedly told to investors, the UBS Yield Enhancement Strategy was far from market neutral. Market volatility was responsible for huge losses to investors in the strategy. The product was likely inappropriate for most retail investors. Individuals who invested in the UBS Yield Enhancement Strategy are strongly encouraged to contact an investment misconduct lawyer to learn about their rights.

The two Siegel trusts, a generation-skipping transfer (GST) trust, and a QTIP trust, reportedly invested $8.5 million into the UBS strategy. As a result of their losses, the two trusts were awarded $517,020 and $1.171 million, respectively. The case was heard by a three-person FINRA arbitration panel in Boca Raton, Florida.

Recovering Losses Related to UBS YES Claims

Customers who were recommended and sold investment in the UBS Yield Enhancement Strategy might have a claim for losses. Allegations against brokers and financial advisors that recommended investment in the strategy include that the strategy was falsely represented to them as being safe and that the firms omitted critically important information regarding the strategy when they recommended it.  

Aggrieved investors may be eligible to file a FINRA arbitration claim against UBS Financial to recover losses related to the product. It is essential to consult with an experienced attorney as early as possible to determine your legal options.

Suffered UBS Yield Enhancement Strategy Losses? Contact Our Office.

If you were recommended and sold investment in the Yield Enhancement Strategy offered by UBS Financial, you might be entitled to compensation for your losses. 
Contact our office at (800) 738-1960 for a free, no-obligation consultation. Investor claims are handled on a contingency fee basis, meaning we only earn a fee if money is recovered on behalf of the client. Call now to get started.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

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