Matthew Buchsbaum: Multiple Options Complaints Against UBS Rep

New York City and Stamford-based UBS Financial Services representative Matthew Buchsbaum (CRD# 2220565) has received numerous customer complaints alleging he made misrepresentations and unsuitable recommendations connected to an options overlay strategy offered by the firm. The complaints cumulatively allege more than $1.2 billion in damages, according to publicly available records maintained by the Financial Industry Regulatory Authority (FINRA). 

The most recent pending complaint, filed in 2021, is a class-action complaint alleging that UBS Financial Services engaged in various forms of misconduct regarding its Yield Enhancement Strategy: specifically, that it failed to accurately disclose the strategy’s risks, its expected performance, “certain alleged conflicts of interests,” and the involvement of certain “YES team members… in arbitration proceedings brought by their former employer.” The pending class-action complaint alleges damages of $1.2 billion.

A March 2020 complaint details similar allegations: that while he was registered with UBS, Buchsbaum misrepresented and unsuitably recommended the strategy. This complaint seeks $1.6 million in damages. 

A February 2020 complaint concerning the options overlay strategy evolved into a FINRA arbitration proceeding, concluding with an award to the claimant of more than $1.8 million in damages.

An October 2019 complaint, also alleging unsuitability and misrepresentation connected to the strategy, seeks $6.5 million in damages. 

Two September 2019 complaints regarding the strategy seek $500,000 and $750,000 each in damages. Two August 2019 complaints seek $600,000 and $725,000 each in damages. A complaint filed in July 2019 seeks $4 million in damages. All five complaints are still pending.

Matthew Buchsbaum has been registered with UBS Financial Services in New York, New York and Stamford, Connecticut since 2015. His previous registrations include Credit Suisse Securities in New York City; Donaldson Lufkin & Jenrette in Jersey City, New Jersey; and AG Edwards & Sons in St. Louis, Missouri. He has passed four securities industry qualifying examinations and his BrokerCheck report lists 56 state securities licenses. (Information current as of May 11, 2022.)

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