Financial Industry Regulatory Authority (FINRA) BrokerCheck shows disclosures about securities broker Karen Degro [CRD: 5048237, Boca Raton, Florida]. Evidently, Karen Degro worked for UBS Financial Services Inc. from April 27, 2016, to October 3, 2023, and works for Herbert J. Sims Co. Inc. as of September 22, 2023. Degro has been involved in client disputes and regulatory actions, raising concerns about her past conduct. Read on to learn more about the allegations concerning her activities as a securities broker.
On June 15, 2022, a client of UBS Financial Services Inc. filed FINRA Arbitration No. 19-01878, alleging that Karen Degro provided unsuitable advice, made misrepresentations, and overconcentrated their investments in Puerto Rico securities. The case was resolved with a settlement of $50,000.
On March 23, 2021, a client initiated FINRA Arbitration No. 19-01087 alleging that Karen Degro made unsuitable investment recommendations and misrepresented risks in municipal bonds and closed-end funds. The client further alleged that Degro overconcentrated their portfolio in Puerto Rico securities. This case was settled for $90,000.
On December 16, 2020, a client initiated FINRA Arbitration No. 19-02599 alleging that Karen Degro made unsuitable recommendations and misrepresented risks associated with Puerto Rico closed-end funds and bonds. The client also alleged overconcentration. This claim settled for $65,000.
On October 19, 2020, FINRA Arbitration No. 19-01324 settled for $1,225,000, following allegations that Degro made unsuitable recommendations, omitted material facts, and misrepresented risks. The client further alleged overconcentration in Puerto Rico securities.
On May 7, 2020, a client of UBS Financial Services Inc. filed FINRA Arbitration No. 18-02694, accusing Karen Degro of misrepresentations, overconcentration in closed-end funds, and unsuitable trading. The client alleged that these actions caused damages related to closed-end funds. On May 7, 2020, UBS Financial Services Inc. settled the matter by paying the client $246,000.
On May 13, 2020, a client of UBS Financial Services Inc. filed FINRA Arbitration No. 19-00787, accusing Karen Degro of unsuitable investment recommendations and misrepresentation of risks in connection with the sale of municipal bonds and closed-end funds. The client also alleged overconcentration in these products. UBS settled the matter by paying $30,000 in damages.
On March 4, 2020, a client initiated FINRA Arbitration No. 18-04286 about Karen Degro, alleging that Degro made unsuitable investment recommendations and misrepresented risks associated with Puerto Rico closed-end funds. This matter settled for $105,000.
For more information, contact Soreide Law Group online or call (888) 760-6552 to speak with a securities attorney. Degro and her former employers deny the accusations of sales practice violations. Soreide Law Group has experience representing investors throughout the country. The firm handles cases on a contingency basis.
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