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Monty Cerf: Pending Complaints Against NYC Advisor Seek Millions

Financial Industry Regulatory Authority (FINRA) records indicate that UBS Financial Services broker Monty Cerf (CRD# 2269462) has received several pending customer complaints concerning an allegedly unsuitable options strategy. Cerf is registered with the firm’s office in New York, New York, and is also registered as an investment adviser. The complaints listed on his BrokerCheck report cumulatively seek damages of more than $16 million.

One complaint listed in Cerf’s FINRA records was filed in June 2020. It alleges that an options overlay strategy investment was misrepresented and unsuitable. The listed time frame for the alleged misconduct is “2016-2020,” while Cerf was registered with UBS Financial Services. The complaint alleges damages of $700,000. Cerf’s “Broker Statement” on the disclosure states that he was not named as a party in the arbitration, and that he acted in the client’s best interests “at all times.”

Another complaint listed in Cerf’s records was filed in February 2020. This complaint concerns the same investment strategy, which it also alleges was unsuitable and misrepresented. The complaint’s time frame is “2017-2019,” while Cerf was at UBS, and it seeks damages of $2.2 million.

A third complaint detailing the same allegations about the strategy was filed in November 2019, concerning activities between late 2016 and the present, while Cerf was a UBS representative. This complaint alleges damages of $2.5 million. Cerf wrote a “Broker Statement” on this disclosure as well, noting that he disagrees with the allegations, and that he was “not specifically named in the arbitration filing.”

A fourth complaint about the options overlay strategy was filed in October 2019 and alleges damages of $5 million. Cerf has also written a comment on this disclosure, voicing his disagreement with the allegations and noting that the complaint did not name him specifically.

A fifth complaint about the options strategy filed in September 2019, seeks damages of $7 million. A sixth, on which Cerf has also written a note denying the allegations of unsuitability and misrepresentation, and noting that he was not named in the arbitration, seeks damages of $600,000.

All of the above complaints remain pending before FINRA.

Monty Cerf has been registered as a broker with UBS Financial Services in New York, New York since 2015. His previous registrations include Barclays Capital in New York, New York (2009-2015), Lehman Brothers in New York, New York (2008), JP Morgan Securities in New York, New York (2006-2007), Bear Stearns & Company in New York, New York (2001-2003), and JP Morgan Securities in New York, New York (1993-2000). He has passed six securities industry examinations and his BrokerCheck report lists 14 states securities licenses: Arizona, California, Connecticut, Delaware, the District of Columbia, Florida, Maryland, Massachusetts, New Jersey (broker and investment adviser licenses), New York, Pennsylvania, South Carolina, and Utah. (Information current as of July 16, 2020.)

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