NYC Rep Mark Zeller: Options Complaint Reached $89K Award

Mark Zeller (CRD# 2263684), a New York City-based broker and investment adviser, has received a customer complaint detailing allegations regarding an options investment strategy offered by his member firm, UBS Financial Services. Financial Industry Regulatory Authority (FINRA) records indicate that a FINRA arbitration panel issued an award to the customer.

Filed in February 2019, the complaint concerned conduct that took place between December 2016 and the present, while he was employed by UBS Financial Services. It alleged unsuitability and misrepresentation concerns connected to the options strategy, constructive fraud, negligent misrepresentation, omissions, breach of fiduciary duty, breach of contract, supervisory failures, unsuitability, and breach of contract relating to an investment in the Yield Enhancement Strategy. In December 2020 a FINRA panel issued an award to the claimant of $89,675.

A “Broker Statement” on this complaint’s disclosure on Mr. Zeller’s BrokerCheck report states that “the risk and volatility of the strategy was discussed and presented to the client, in writing and verbally on numerous occasions,” and that Zeller believes the client understood the strategy’s volatility might lead to “drawdowns or negative returns.”

Mark Zeller has been registered with UBS Financial Services in New York, New York since 2005. His previous registrations include Citigroup Global Markets in New York City, where he was registered from 1996 until 2005, and Smith Barney, where he was registered from 1993 until 1995. His credentials include the passage of six securities industry qualifying examinations: the Uniform Combined State Law Examination, or Series 66; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the National Commodity Futures Examination, or Series 3; and the General Securities Representative Examination, or Series 7. His BrokerCheck report lists 42 state securities licenses. (Information current as of May 11, 2022.)

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