UBS Broker Steven Chille Receives YES Investor Complaints

According to records maintained by the Financial Industry Regulatory Authority, Westport, Connecticut-based UBS Financial Services broker and investment adviser Steven Chille (CRD# 1335887) has received pending customer complaints alleging misconduct surrounding an options strategy offered by his firm. The three complaints settled for more than $700,000.

One complaint listed on Steven Chille’s BrokerCheck report was filed in June 2019. It alleged “unsuitability and misrepresentation” connected to an options overlay strategy investment between 2016 and the present. The pending reached a settlement of $220,000. Chille writes in a statement on the disclosure that he is “not named in the arbitration.”

A second complaint, filed in June 2019, details similar allegations: suitability violations and misrepresentations connected to an options strategy, from 2016 until the present, while Chille was employed by UBS. The complaint reached a settlement of $200,000. Chille’s comment on the disclosure again states that he is not named in the arbitration.

A third complaint alleges that the options strategy was unsuitably recommended and misrepresented by UBS. The time frame of this investment is “2016-present.” The complaint reached a settlement of $355,000. A comment on the disclosure by Chille states: “This filing centers on The Yield Enhancement Strategy operated by a separate UBS team in New York City… I am not named in the arbitration.”

Steven Chille has been registered with UBS Financial Services in Westport, Connecticut since 2009. His previous registrations include Citigroup Global Markets in Westport, Connecticut, where he was registered from 1999 until 2009; Painewebber in Weehawken, New Jersey, where he was registered from 1995 until 1999; Merrill Lynch in New York, New York, where he was registered from 1989 until 1994; and First Investors Corporation, where he was registered in 1985. He has passed five securities industry qualifying examinations and his BrokerCheck report lists 21 state securities licenses. (Information current as of May 11, 2022.)

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