Soreide Law Group is currently investigating UBS Financial Services (UBS) in the sale of UBS V10 Enhanced FX Carry Strategy. UBS is one of the largest FX dealers and was recently under investigation by Switzerland's regulatory authority, FINMA, into potential FX benchmark manipulation. As a result, they were severely penalized. Bloomberg describes the product as having been sold as a 'high-yielding foreign-exchange investment that used computer algorithms to minimize risks in periods of volatility.' When the European debt crisis began, the index to which the notes were tied lost 26% in two years according to Bloomberg.
Recently there was a lawsuit filed in Federal Court in Florida claiming the client was sold UBS V10 Enhanced FX Carry Strategy, resulting in losses over $100,000. This individual claims he did not ask for this risky, complex product sold to him by his financial advisor. Due to this lawsuit, the US Department of Justice is examining whether UBS traders deliberately overcharged investors by carrying out the currency trades needed to execute the strategy.
If you've invested in the UBS V10 Enhanced FX Carry Strategy at the recommendation of your financial advisor/broker and experienced losses, contact Soreide Law Group at (888) 760-6552 for a free consultation on how you may be able to recover your losses. Soreide Law Group, PLLC, (https://www.securitieslawyer.com) is currently representing investors nationally and internationally against UBS.
Investors potentially experienced sales practice violations by securities broker Matthew R. Carbray [CRD: 4565811, Northampton, Massachusetts], based on public information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Carbray has worked for Kestra Investment Services LLC since July 21, 2006, and Kestra Advisory Services LLC since April 19, 2016. Continue reading to learn more about Carbray’s […]
Investors apparently complained about securities broker Juan Pablo Benavides [CRD: 4288007, Miami, Florida], given the public information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Benavides has worked for Merrill Lynch as a securities broker since November 22, 2000, and as a financial advisor since March 15, 2004. See below to find out more about […]
Investors potentially incurred losses because of securities broker Sandy Meyer Leff [CRD: 1796695, Atlanta, Georgia], according to information disclosed through Financial Industry Regulatory Authority (FINRA) BrokerCheck. Leff has worked for Carter Terry Company Inc. as a securities broker since October 6, 2016, and as a financial advisor since October 21, 2016. Keep reading to discover […]
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