Investors Sue UBS Financial For Defective Investment Advice

Scott Michael Rosenberg of New York New York a stockbroker currently registered with UBS Financial Services Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $1,200,000.00 in damages based upon accusations that (1) the customer was provided with unsuitable investment recommendations between 2016 and 2020 concerning the purchase and retention of an options overlay strategy and (2) misrepresentations had been made to the customer in regard to the options overlay strategy implemented by the stockbroker during the time that he was associated with UBS Financial Services. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-00965 (Mar. 25, 2020).

FINRA Public Disclosure reveals that Rosenberg is referenced in sixteen more customer initiated investment related disputes containing allegations of his wrongdoing while associated with securities broker dealers including UBS Financial Services. Rosenberg is the subject of a customer initiated investment related written complaint on May 24, 2019 in which the customer requested unspecified damages based upon allegations that the customer was provided with false information from Rosenberg regarding the amount that the customer would recover. The claim also alleges that the customer would not have invested if disclosures were made by Rosenberg regarding risk exposure.

Rosenberg is also referenced in a customer initiated investment related arbitration claim in which the customer requested $400,000.00 in damages supported by allegations of misrepresentation and unsuitable investment recommendations being made to the UBS Financial Services customer by Rosenberg between 2016 and 2019. FINRA Arbitration No. 19-02550 (Sept. 16, 2019). On October 28, 2019, a customer filed an investment related arbitration claim in reference to Rosenberg’s conduct where the customer sought $6,500,000.00 in damages based upon accusations of misrepresentations being made to the customer concerning recommendations to commit funds to an options overlay strategy. FINRA Arbitration No. 19-03373. The claim alleges that Rosenberg gave bad advice to the customer regarding the strategy.

On January 7, 2020, another customer filed an investment related arbitration claim concerning Rosenberg’s activities where the customer sought $160,000.00 in damages founded on accusations of an unsuitable options overlay strategy being implemented in the customer’s account between 2017 and 2020. FINRA Arbitration No. 19-03296. According to the claim, false representations were made by Rosenberg in regard to the strategy when he was employed by UBS Financial Services. Rosenberg is also the subject of a customer initiated investment related arbitration claim in which the customer requested $1,500,000.00 in damages based upon allegations of bad investment advice and misrepresentations by Rosenberg regarding an options overlay strategy selected for the customer’s account which resulted in unwarranted losses. FINRA Arbitration No. 20-00879 (Mar. 18, 2020).

Rosenberg has been registered with UBS Financial Services since November 20, 2015.