Alex Williams (CRD# 2646185), a broker and investment adviser based in New York, has received a pending customer complaint. According...Read More
Ramiro Colon: UBS Employee Has 25 Customer Complaints
Ramiro Luis Colon III of UBS Financial Services in Miami, Florida has 25 customer complaints on his Brokercheck report maintained by the Financial Industry Regulatory Authority. Of those 25 complaints, 24 were from 2014 to present. Six of the complaints settled, and the rest are still pending.
One customer complaint, dated July 10, 2014, alleged failure to supervise and $6,977,165.00 of damages. That claim settled for $5,000,000. Another complaint, dated September 9, 2015, also alleged failure to supervise. That claim was settled for $970,000. A third large settlement from 2014, for $2,745,388.71, also alleged failure to supervise.
Colon was formerly the branch manager of the Guaynabo offices of UBS Financial Services Incorporated of Puerto Rico. On or around September 20, 2015, Colon agreed to a settlement with the Securities and Exchange Commission (SEC). The SEC alleged that “failed reasonably to supervise an individual with a view to preventing and detecting the individual’s violations of the federal securities laws.” Colon agreed to a fine of $25,000 and a 12 month suspension from the securities industry.
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