A Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded two claimants over $1 million.  The claimants were clients of UBS Securities who had purchased UBS Yield Enhancement Strategy (UBS YES).

The UBS YES strategy, or yield enhancement strategy, is a form of investing, when a broker sells the client call or put options to enhance returns in a stable market. The YES strategy may be pitched to the client as a safe option for investors who want consistent returns, however, the investments under the YES strategies may often be complex and risky, and can lead to devastating losses.

According to an article in AdvisorHub, there were alleged discrepancies between risk disclosures in written documents and testimony from a manager and broker, and the clients believed the YES strategy was allegedly low to moderate-risk with high rewards.

The claimants alleged breach of fiduciary duty, professional negligence, and violation of the Nebraska Securities Act in connection with UBS YES. One claimant was awarded $727,458 and the other $316,784 in damages with interest of 4% annually from December 20, 2019, when this claim was filed, payable by UBS.

The UBS Lincoln, Nebraska, broker Jason Mathew Dworak, was not a respondent in this case. Dworak allegedly has been named in other UBS YES claims that are now pending. He did request that the case be expunged from his FINRA CRD records, but that was not granted by the panel.

According to FINRA’s BrokerCheck, Jason Mathew Dworak has been in the securities industry for 27 years and has 4 disclosures on his FINRA CRD report, all of the disclosures are “Customer Disputes.” Dworak is a registered broker, and an investment advisor.

Jason Mathew Dworak has been listed with 4 firms and is currently listed with the following firm since 12/5/2008:

UBS FINANCIAL SERVICES INC.

5800 HIDCOTE DRIVE SUITE 200

LINCOLN, NE 68516

If you have suffered financial losses due to the UBS Yield Enhancement Strategy (UBS YES) through broker, Jason Mathew Dworak of UBS Lincoln, Nebraska, and/or any other broker/dealer, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552. 

Soreide Law Group works on a contingency fee and represents our clients nationwide before FINRA.