Alex Williams (CRD# 2646185), a broker and investment adviser based in New York, has received a pending customer complaint. According...Read More
Matthew Buchsbaum: 20+ Options Complaints Against UBS Rep
New York City and Stamford-based UBS Financial Services representative Matthew Buchsbaum (CRD# 2220565) has received more than 20 pending 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 $10 million in damages, according to publicly available records maintained by the Financial Industry Regulatory Authority (FINRA).
The most recent of the 23 complaints was filed in April 2020. It alleges that as a representative of UBS Financial Services, Matthew Buchsbaum falsely represented material facts and unsuitably recommended the customer invest in and hold an options overlay strategy. The complaint seeks $1.2 million in damages.
A March 2020 complaint details similar allegations: that while he was registered with UBS, Buchsbaum misrepresented and unsuitably recommended the strategy. This complaint seeks $!.6 million in damages.
A February 2020 complaint concerning the options overlay strategy seeks $2.2 million in damages. Like the others, it remains pending.
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. All four complaints are still pending.
One options overlay complaint, filed in July 2019, seeks $4 million in damages, alleging that the strategy was misrepresented and unsuitable. A June 2019 complaint detailing the same allegations seeks $1 million in damages.
An April 2019 complaint alleges that as a representative of UBS, Matthew Buchsbaum provided false representations regarding the strategy, its risks, and the trading implemented in connection to it, with a time frame of June 2016 until January 2019. This complaint seeks $10 million in damages. An April 2019 complaint detailing the same allegations also seeks damages of $10 million.
All of the above complaints remain 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 July 12, 2020.)