UBS Financial Services (CRD#: 8174, Weehawken, New Jersey), which is FINRA registered brokerage firm and SEC registered investment adviser firm, has disclosed through FINRA BrokerCheck that several of its own employees allegedly engaged in misconduct harming UBS Financial Services customers. For example, take a look at the following disclosures involving brokers Julian Gingold, Robert Shultz and Gayle Dilla.
Julian Howard Gingold (CRD#: 222170, New York, NY) is a prior UBS Financial Services registered representative. Apparently, Julian Gingold worked at the firm’s New York, New York offices from November 10, 2006 to May 10, 2018. The firm actually discharged Julian Gingold for misconduct on the job. First, the firm claimed that Julian Gingold failed to report a customer’s complaint to the firm’s supervisors. Second, Julian Gingold allegedly failed to make sure the firm had approved of his duties pertaining to outside activities. Third, UBS Financial Services claimed Julian Gingold falsely marked customers’ trading tickets. Fourth, Julian Gingold reportedly failed to provide straightforward answers to UBS Financial Services during the firm’s review of his activities. Evidently, the firm believed that Julian Gingold was not able to perform his job functions. Previously, Julian Gingold worked for Morgan Stanley.
Robert Nathan Schultz (CRD#: 1769129, Houston, TX) is a former UBS Financial Services securities representative. The firm reported on Robert Schultz’s FINRA BrokerCheck profile that a customer complained about Robert Schultz’s sales practices. According to the customer, Robert Schultz made excessive trades in the customer’s account. Not only that, but the customer claimed that it was not suitable for Robert Schultz to put the customer in municipal bond funds, government sponsored enterprises (GSEs), real estate investment trusts (REITs), master limited partnerships (MLPS), exchange traded funds (ETFS), mutual funds and other equities. Additionally, the customer stated that Robert Schultz charged the customer excessive fees and commissions on investments. Apparently, Robert Schultz’s excessive and unsuitable trades transpired from 2009 to 2015. Because of this, UBS Financial Services opted to settle the customer’s complaint by paying the customer $275,000.
Gayle Anne Dilla (CRD#: 1633766, Washington, DC) is a past general securities representative for UBS Financial Services. The firm employed Gayle Dilla from January 16, 2009 to November 7, 2017. Evidently, UBS Financial Services discharged Gayle Dilla for her discretionary trading in investor accounts. Apparently, Gayle Dilla used time and price discretion, where Gayle Dilla made decisions as to the price or time to execute customer’s order for a security. Allegedly, Gayle Dilla did not provide UBS Financial Services with any documentation evidencing that customers authorized her discretionary trading. Not only that, but the firm seemingly did not authorize the customers’ accounts as discretionary. FINRA commonly fines and suspends brokers who make unauthorized trades or who exercise discretion in customer accounts without customer or firm approval in writing. Gayle Dilla is now a general securities representative of NBC Securities Inc. (Hunt Valley, MD).
Investors who have incurred losses from UBS Financial Services brokers Julian Gingold, Robert Shultz or Gayle Dilla should contact Soreide Law Group at (888) 760-6552 for a free consultation. Our firm has recovered millions of dollars for investors who have suffered losses. We represent clients on a contingency fee basis and advance all costs.
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MARK LAWRENCE SULLIVAN (MARK SULLIVAN, MARK L SULLIVAN), formerly with UBS Wealth Management USA in New York City, was fined $10,000 and suspended for three months by the Financial Industry Regulatory Authority (FINRA) over allegations that he traded in customers’ accounts without the proper approval. Sullivan was previously registered both as a broker and as an […]
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