Soreide Law Group is investigating potential investor claims of sales practice violations possibly committed by securities broker James Arthur Schwarz [CRD: 416535, Short Hills, New Jersey], as indicated by multiple disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Schwarz joined UBS Financial Services Inc. on January 10, 2013, as a financial advisor and securities broker. Continue reading to learn more about investors’ allegations against Schwarz.
Specifically, on September 12, 2023, a UBS Financial Services Inc. client filed a complaint about James Schwarz. Evidently, the client alleged that Schwarz recommended a bad portfolio of preferred securities that resulted in an overconcentration for his client. Supposedly, the client was advised repeatedly that everything was safe. However, the client allegedly sustained damages on over-the-counter equities. Consequently, the client requested compensation from UBS Financial Services Inc. or Schwarz. The firm denied this complaint.
Notably, a client of Citigroup Global Markets Inc. contested James Schwarz's sales practices by filing a complaint. Namely, the customer alleged unsuitable preferred stocks. Therefore, Citigroup Global Markets Inc. opted to settle the matter on July 28, 2009, by compensating the client in the amount of $4,800.
Particularly, a client of Citigroup Global Markets Inc. and Salomon Smith Barney alleged misrepresentations and omissions, negligence, breach of fiduciary duty, unsuitable investments, unauthorized transactions, manipulation, failure to supervise, breach of contract, and failure to follow instructions. NASD No. 03-08477. Allegedly, Schwarz's actions resulted in damages relating to mutual funds, stocks, and bonds. On Mach 21, 2007, this matter was settled for $12,500 in damages.
Have you sustained losses because of James Schwarz? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney about a possible recovery of your investment losses. Soreide Law Group has recovered losses for investors across the country, works on a contingency fee basis, and advances all costs. Schwarz and brokerage firms he worked for deny any allegations of sales practice violations.
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