National investment loss lawyers KlaymanToskes is investigating Taylor Thompson (CRD# 5951104) following the filing of a $1 million customer complaint alleging unsuitable investment recommendations and failure to consider the customer’s best interest.
According to FINRA BrokerCheck, Taylor Michael Thompson is registered as a broker/investment advisor with UBS Financial Services in Irvine, CA.
Investors that suffered losses with Taylor Thompson may be entitled to a financial recovery. Contact attorney Lawrence L. Klayman for a free consultation at (888) 997-9956 or lawrence@klaymantoskes.com to discuss your recovery options. We do not collect attorney’s fees unless we obtain a financial recovery for you.
According to FINRA BrokerCheck, Taylor Michael Thompson has one pending customer complaint disclosed. The complaint alleges that Thompson made unsuitable investment recommendations resulting in $1,000,000 in damages and failed to consider the customer’s best interest. The customer further alleges that the investment strategy implemented was inconsistent with her investment goals.
The SEC’s Regulation Best Interest, a/k/a “Reg BI” establishes a “best interest” standard of conduct for brokers and brokerage firms making recommendations of securities investments and investment strategies to their customers, under the Securities Exchange Act of 1934.
Reg BI requires that financial professionals act in the best interest of their customers when making investment recommendations and requires that they place their customers’ interests ahead of their own.
Investors may be entitled to a financial recovery if their brokerage firm failed to supervise the representative managing their brokerage account, and/or if their advisor did not act in their best interest. KlaymanToskes can help you determine if your investment losses are the result of your broker/investment advisor’s failure to comply with the SEC’s Regulation Best Interest, and/or other federal and state securities laws.
If you suffered losses with Taylor Thompson and/or any other UBS broker/advisor, contact attorney Lawrence L. Klayman for a free consultation at (888) 997-9956 or lawrence@klaymantoskes.com to discuss your legal options at no cost. We do not collect attorney’s fees unless we obtain a financial recovery for you.
In September 2022, the Securities and Exchange Commission (“SEC”) filed a Cease-and-Desist Order fining UBS Financial Services $125 million in connection with findings that its registered representatives firm-wide sent and received “tens of thousands of messages” using off-chanel communication methods, such as personal text messaging platforms, to communicate about investment-related information.
Several months prior, UBS Financial Services agreed to pay $25 million to settle fraud charges with the SEC related to its “Yield Enhancement Strategy” (Y.E.S.) Strategy promoted to advisory clients. In its order, the SEC stated that the charges involved “a complex investment strategy UBS marketed and sold to approximately 600 advisory clients.”
Investors that suffered losses at UBS Financial may have recovery options through FINRA arbitration. Contact KlaymanToskes today at 888-997-9956 or lawrence@klaymantoskes.com for a free consultation to discuss your potential case.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lawrence@klaymantoskes.com
www.klaymantoskes.com