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C. Steven Teixeira: Pending Options Complaints Against UBS Adviser

C. Steven Teixeira (CRD# 2390851), a New York City-based broker and investment adviser, has received two pending customer complaints alleging misconduct connected to an options investment offered by his member firm, UBS Financial Services. Records maintained by the Financial Industry Regulatory Authority (FINRA) reveal that the complaints allege damages of more than $1.5 million.

One of the pending complaints listed in C. Steven Teixeira FINRA records was filed in August 2019. It alleges “unsuitability and misrepresentation” connected to an options overlay investment strategy offered by UBS Financial Services, with a time frame of “2017-present.” The complaint seeks $800,000 in damages. Teixeira’s “Broker Statement” on the disclosure states that he was not named as a party to the arbitration and that he “acted in the best interests of the client at all times.”

The second pending complaint was filed in July 2019. It details the same allegations about the same options product offered by UBS within the same time frame. It alleges damages of $770,000.

Teixeira’s records also list a complaint filed in February 2016. The claimant alleged that C. Steven Teixeira, while employed at Merrill Lynch, failed to follow instructions and omitted material facts regarding stock products. The complaint reached a settlement in 2017 of $37,500.

C. Steven Teixeira has been registered with UBS Financial Services in New York, New York since 2016. He is a part of the Teixeira Loughran Group within UBS, and is both a Certified Investment Management Analyst and a Chartered Retirement Planning Counselor. He was previously registered with Merrill Lynch in New York City, where he was registered as a broker from 1993 until 2016 and as an investment adviser from 2004 until 2016. He has passed five securities industry qualifying examinations and his BrokerCheck report lists 31 state securities licenses. His self-regulatory organization (SRO) registrations include BOX Exchange LLC, Cboe Exchange, FINRA, NYSE American LLC, NYSE Arca Inc., Nasdaq ISE LLC, Nasdaq PHLX LLC, the Nasdaq Stock Market, and the New York Stock Exchange (Information current as of July 16, 2020.)

 

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