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Structured Products: UBS served with arbitration claim over Lehman notes
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The investor was looking for a secure investment in which to place her inheritance, says Vernon Healy, the law firm which has filed the arbitration. Her adviser at UBS concentrated 95% of her funds in index-linked Lehman-backed structured products, says the firm, and her broker assured that the investment was well-diversified owing to the variety of indexes in the underlying portfolio.
Neither the true nature of the securities or their subsequent risks were adequately disclosed to the investor, says Florida-based attorney Susan Healy, who describes the structured products in question as "unsuitable, complex loan option products".
The firm accuses UBS of gross misconduct, and alleges that the brokerage had a conflict of interest owing to the bank's own investments with Lehman brothers, totalling around $300 million (Structured Products, November 2008) which gave it a motive to inject funds into the troubled institution. UBS Wealth Management has previously denied the allegations, saying it properly sold investments to clients.
 
aus der Diskussion: Lehman Brothers Chapter 11 -> Auswirkung(en) auf deren Zertifikate
Autor (Datum des Eintrages): manyfulddick  (28.01.09 20:20:25)
Beitrag: 2,085 von 2,327 (ID:36468911)
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