Alex Williams (CRD# 2646185), a broker and investment adviser based in New York, has received a pending customer complaint. According...Read More
Jose Cornide of UBS Complaints Regarding Options Overlay Strategy
Pending complaints against UBS Financial Services broker and investment advisor Jose Cornide (CRD# 2785918) allege the Coral Gables, Florida-based representative misrepresented and recommended an unsuitable options overlay strategy. Information drawn from Financial Industry Regulatory Authority records reflects investor complaints for damages between $500,000 and $10 million.
The complaints all appear to relate to the UBS Yield Enhancement Strategy, also known as the YES Strategy, which is an iron condor options trading strategy.
A pending October 2019 complaint alleges that as a representative of UBS Financial Services, Jose Cornide made misrepresentations of material facts and unsuitably recommended the claimant invest in an options overlay strategy. The complaint alleges damages of $2,000,000.
A pending September 2019 complaint alleges that as a representative of UBS Financial Services, Jose Cornide acted unsuitably and made misrepresentations in connection to his recommendations to invest in and hold an options overlay strategy. The complaint alleges damages of $1,750,000.
A pending August 2019 complaint alleges that as a representative of UBS Financial Services, Jose Cornide misrepresented and recommended an unsuitable options overlay strategy. The complaint alleges damages of $500,000.
Three other pending complaints filed between April 2019 and July 2019 allege he made misrepresentations and unsuitably recommended the claimants invest in and hold an options overlay strategy. An April complaint alleges damages of $10,000,000; a June complaint alleges damages of $1,200,000; and a July complaint alleges damages between $500,000 and $1,000,000.
Jose Cornide is currently registered with UBS Financial Services’ branch office in Coral Gables, Florida. His employment history includes Goldman Sachs & Company in New York, New York, where he was registered from 1996 until 2004. He has passed five securities industry qualification examinations: the Series 65, or Uniform Investment Adviser Law Examination; the Series 63, or Uniform Securities Agent State Law Examination; the SIE, or Securities Industry Essentials Examination; the Series 3, or National Commodity Futures Examination; and the Series 7, or General Securities Representative Examination. He holds 16 state securities licenses.