MICHAEL SCOTT ROSENBACH TERMINATED FROM UBS FINANICAL SERVICES

The Financial Regulatory Authority (“FINRA”) has reported on its BrokerCheck website that  MICHAEL SCOTT ROSENBACH was terminated from employment at UBS FINANCIAL SERVICES INC.  The FINRA Form U5 says: 

“DISCHARGE Employee discharged after violating Firm policies by failing to escalate the receipt of material non-public information, violating the Firm’s Order Entry Policy, failing to disclose all external OBAs [Outside Business Activities], and using unapproved personal devices to communicate with a client,” and was reported on November 2, 2023. 

Broker-dealers are required to report terminations and the reasons for a termination. Sometimes, these reported terminations suggest wrongdoing by the financial advisor; sometimes the reported terminations or discharge do not give any reason for the termination and do not suggest any wrongdoing. 

If the termination mentions “OBA” or “Outside Business Activity” or “private securities” then it is likely the advisor engaged in conduct outside the firm, and sometimes it suggests customers were sold an investment “away” from the firm without authorization, which is a very serious offense. Not all OBAs mean there was customer harm. But if you bought something from your advisor and it does not show up on your monthly brokerage firm statement, you should have that immediately reviewed by a qualified securities lawyer.

If you believe that you lost money due to any negligence or other misconduct of MICHAEL SCOTT ROSENBACH, contact Sonn Law Group for a free consultation at 305-912-3000 or at service@sonnlaw.com.

Sonn Law Group PA represents individuals, companies, and institutions nationwide in class actions, FINRA arbitrations, and court. Our attorneys have obtained multimillion-dollar recoveries for victims of investment fraud, Ponzi Schemes, negligence, and other claims against some of the largest companies on Wall Street and around the country. Jeff Sonn served as a legal commentator for CNBC’s “On the Money” TV show as an expert on Ponzi Schemes during the Madoff case, and is the author of “Ponzi Schemes, Picking up the Pieces of a Fallen House of Cards”.

Sonn Law Group PA represents investors nationwide, in all 50 states.

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