Securities law firm of Klayman and Toskes issues important notice to former UBS financial advisors who sold Puerto Rican bonds. They are interested in speaking to you about alleged mis representation by UBS to clients.
Comtex news is reporting the story as of October 22.
Securities fraud is dangerous to a clients financial health.
"ZURICH (Reuters) - UBS has no plans to sell its U.S.-based wealth management arm, the former Paine Webber brokerage, Chief Executive Sergio Ermotti said on Wednesday.
"It has always been my view that it would be a terrible strategic mistake for UBS not to have a significant presence in what is arguably the most important financial center and wealth management market globally," Ermotti told a gathering of business people.
There has periodically been speculation that UBS might sell the U.S. wealth management business as its broker-based model is different from UBS's larger private bank.
The U.S. arm was losing money and shedding brokers before Robert McCann joined as chief executive in 2009 from Merrill Lynch. In the fourth quarter of 2012, its pretax profit increased 36 percent from a year ago to $216 million."
UBS brokerage has an inherent conflict of interest with wealth management. UBS is competing against their wealth management clients.
"The Securities Litigation and Consulting Group just released a report which highlights the rise in Apple's stock price coinciding with the issuance of debt products linked to Apple's stock price. Turns out these products have cost investors $80MN, or over 20%, since issuance. The cabal responsible for issuance of the reverse covert's includes such White Knights of finance like UBS, Barclays, and the Morg.
On the 23rd when expectations shanked, UBS's September 26, 2012 Apple-linked SO Reverse Convertible (8.03%, No Coup) was priced at $571.38 when Apple's stock traded at $514.01. Apple's stock closed at $450.50 the next day, Jan 24, and the SO Reverse Convert was worth $468.93, a whopping 66.92% of its face value. For investors to win, Apple's stock has to close above $595.60 on Sept 23, 2013."
UBS is the insider. The money management client is the outsider. Who wins when UBS competes against the money management client with the clients own money? UBS.
They will be back at work against their money management clients.
"It has also charged two former UBS traders with crimes that include conspiracy, wire fraud and violation of antitrust laws."
But UBS security fraud against their clients is business as usual.
"Fraudulent securities advice is one thing.
Our funds were simply swindled by our broker.
He's now moved to JP Morgan."
He will be welcomed with open arms. JP Morgan says its not the clients money.
"Maybe this is a naive question, but as Goldman clients get skinned again and again and again and again and again by Goldman’s failed calls — while Goldman itself continues to rack up prop trading profits — I keep wondering just why anyone would take investment advice from a trading firm? And beyond that, why is it even legal for trading firms to advise clients? Isn’t this the biggest conflict of interest possible? We know firms including Goldman have advised clients to buy junk that the trading arm wants to get off its books."
"We know firms including Goldman have advised clients to buy junk that the trading arm wants to get off its books."
Including. That would include UBS, as UBS is a brokerage who advises money management clients.
"Isn’t this the biggest conflict of interest possible?"
That is what i have been saying all along. UBS has an inherent conflict of interest with their money management clients. It is not You and UBS, it is UBS vs you, the money management client.
UBS securities fraud.
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<<loser crybabies!!!!!!!!!!!!!!!! >>
Is that what you will say when criminal securities fraud has been committed against you?
UBS to UBS money management clients.
Being a brokerage and money manager is an inherent conflict of interest.
Zero Hedge often posts that Goldman Sachs told its clients to buy X, and shortly after X went down. Well, Goldman was unloading X before it went down.
UBS told clients to sell near the 2002 low.
UBS kept a strong buy on Enron stock until 4 days before it filed for bankruptcy.
Why would UBS do that to clients?
BECAUSE IT BENEFITTED UBS.
JPMorgan alone accounted for more than $70 trillion of the $700 trillion, the report said. “That [$70 trillion] represents one-tenth of the global OTC derivatives exposures. This is what I call concentration of risk and what is defined as an institution that is too big to fail,” an industry official told Thomson Reuters on condition of anonymity.
The official said he found it alarming that, when the top five banks’ assets and total exposures to derivatives activities were added up, they showed a leverage of one to 45 times. The OCC report showed that JPMorgan Chase North America has total assets of $1.8 trillion to cover $70 trillion worth of OTC derivatives exposure. JPMorgan Chase & Co has total assets of $2.26 trillion, the report also stated.
<<Two simple principles to running a bank.
And they blew it. >>
At UBS, securities fraud is a way of life.
All one has to do is read what Smith said about Goldman Sachs and apply it to UBS.
It never was You and UBS. It was always you vs. UBS. The problem is that UBS has the Wall Street inside information, the UBS client does not. So who loses? The UBS client.
<<looks like UBS is desperately trying to enahnce short-term earnings in wealth mgmt, either for someones short-term career advancement or for short-term profit enhancement...looks like UBS is desperately trying to enahnce short-term earnings in wealth mgmt, either for someones short-term career advancement or for short-term profit enhancement...>>
What derogatory name do UBS brokers use for UBS wealth management clients? Goldman Sachs uses Muppets.
As Smith pointed out at GS, whether GS helped their clients was not their concern. It was all about how much GS could make.
Does UBS call its clients, toads? Maybe a UBS broker could post here and tell us what they call clients.
It came out that Goldman Sachs considers their clients to be Muppts.
What derisive name does UBS have for their money management clients that they were fleecing?
UBS clients should call and ask them.
The stock has moved back above the 50 week exponential moving average and the 8 week has crossed above the 20 week. The stock has since fallen back below the 50 to test the rising 8 week.
The stock is also sitting at the level of the top of the weekly candle body of the last week of october 2011, currently acting as support.
Time segmented volume is below zero but has moved above the recent low and is above the 20 week moving average. On the daily it is above zero and below the 20 day moving average, but currently curling upward toward the moving average.
The stock had a nice run up in January, up to and over the 200 day exponential moving average.
From 1/9 to 2/3, UBS ran up 30%. The stock has been moving sideways, drifting somewhat lower since then. Assuming the stock will eventually break higher, which i am making no prediction on, the stock has to digest the previous move up and consolidate, before moving higher.