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John Loughran: NYC Adviser Has Pending Options Overlay Complaint

According to Financial Industry Regulatory Authority (FINRA) records, UBS Financial Services broker and investment adviser John Loughran (CRD# 1884834) has received a pending customer complaint alleging the firm recommended an unsuitable options strategy. Loughran is registered with the firm’s office in New York City.

FINRA’s records show that the complaint was filed in August 2019. It alleges that an options overlay strategy investment, whose time frame is listed as “2017-present,” was neither suitable nor accurately represented by UBS Financial Services. It also “makes allegations regarding a recommendation to hold the strategy,” though the disclosure does not specify what those are. The complaint remains pending and alleges damages of $500,000.

John Loughran’s FINRA records also list one earlier complaint against him. Filed in May 1996, the complaint alleges that he engaged in excessive trading in the customer’s account, in connection to unspecified products, while he was registered as a broker with Merrill Lynch. The complaint reached a settlement in 1997 of $53,000.

John Loughran has been registered as a broker with UBS Financial Services in New York, New York since 2016. His previous registrations include Merrill Lynch in New York, New York, where he was registered as a broker from 1988 until 2016 and as an investment adviser from 1995 until 2016. He has passed five securities industry examinations, including the Futures Managed Funds Examination, the Uniform Securities Agent State Law Examination, and the Securities Industry Essentials Examination. His BrokerCheck report lists 30 states securities licenses, including: Arizona, California, Delaware, Georgia, Illinois, Maryland, Minnesota, Missouri, New Jersey, New York, Ohio, South Carolina, South Dakota, Tennessee, Utah, and Washington. His self-regulatory organizations (SROs) include BOX Exchange LLC, Cboe Exchange, FINRA, NYSE Arca, Nasdaq ISE, the New York Stock Exchange, and the Nasdaq Stock Market. (Information current as of July 16, 2020.)

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