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Wendy Holmes: UBS Adviser Has $1.4M in Pending Options Overlay Complaints

Wendy Holmes (CRD# 2944190), a broker and investment adviser registered with UBS Financial Services, has received two pending customer complaints detailing allegations connected to an options investment. According to digital records kept by the Financial Industry Regulatory Authority (FINRA), a securities industry oversight body, the complaints against the New York-based representative seek more than $1 million in damages.

One of the pending complaints against Wendy Holmes was filed in August 2019. It concerns alleged conduct from “2017-present,” while Holmes was employed by UBS Financial Services. The complaint specifically alleges that recommendations to invest in and hold an options overlay strategy were unsuitable and misrepresented by the firm. The complaint, which remains pending before FINRA, seeks damages of $1 million.

The second pending complaint against Wendy Holmes was filed in April 2019. It also details alleged conduct while she was employed by UBS Financial Services, between September 2016 and the present. Like the other complaint, it alleges that recommendations connected to an options overlay strategy were not suitable for the customer, and that they were misrepresented. The complaint, which is still pending, alleges damages of $400,000.

Wendy Holmes has been registered with UBS Financial Services in New York, New York since 2015. Her previous registrations include Credit Suisse Securities in New York, New York, where she was registered from 2010 until 2015; UBS Financial Services in New York, New York, where she was registered from 2008 until 2010; UBS International in New York, New York, where she was registered from 2007 until 2008; Citigroup Global Markets in New York, New York, where she was registered from 2003 until 2004; Citicorp Investment Services in Long Island City, New York, where she was registered from 2000 until 2003; and Salomon Smith Barney in New York, New York, where she was registered from 1999 until 2000. She has passed five securities industry qualifying examinations and her BrokerCheck report lists 27 state securities licenses. (Information current as of July 16, 2020.)

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