National investment loss lawyers KlaymanToskes is investigating broker Luis Nin of UBS (CRD# 4372587).
According to FINRA BrokerCheck, broker Luis Nin was terminated from UBS Financial Services on January 31, 2023, and was hit with a one-month suspension and a $5,000 fine by FINRA due to alleged unauthorized trades in a deceased client’s account and falsely claiming to have spoken to the client.
Investors that suffered losses with broker Luis Nin are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Luis Nin, who used to work as a financial advisor at UBS, was reportedly fired for making trades without permission in a deceased client’s account. He also allegedly claimed that he had spoken to the customer and was not forthcoming when questioned about the trades. Over eight days in mid-2022, Nin reportedly made ten trades, turning the account’s assets into over $260,000 in cash without getting the necessary permissions from the client’s estate. UBS terminated Nin on January 31, 2023, following the allegations of unauthorized actions.
After he was terminated by UBS, the Financial Industry Regulatory Authority (FINRA) suspended Nin for one month, fined him $5,000, and ordered that he pay $2,551.10 in disgorgement for the commissions he earned from the unauthorized trades.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Luis Nin. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encourage to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Luis Nin, or have concerns regarding your investment portfolio at UBS, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.