Last Updated: March 2024 (Mishawaka, IN)
Raymond Byers Investigation Summary
Here’s what you need to know about Mishawaka, IN, stockbroker Raymond Byers:
- Name: Mr. Raymond Samuel Byers
- Current Employer: UBS Financial Services
- Previous Firms: Merrill Lynch Pierce Fenner & Smith
- Function: Stock Broker/ Financial Advisor/ Registered Investment Advisor
- Aliases: Raymond Byers
- Primary Location: Mishawaka, IN
- CRD 2590926
- Can Raymond Byers be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Pending Customer Dispute Seeks Damages of $600,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Raymond Byers As Your Stockbroker?
A customer of UBS Financial Services filed a FINRA arbitration in 2023 alleging that Raymond Byers made misrepresentations when he recommended an unsuitable put options writing strategy causing losses of $600,000. This matter is currently pending.
UBS Financial Services Yield Enhancement Strategy – An options overlay strategy targeting high net worth investors which promised an incremental yield on the investor’s portfolio. Investors were led to believe the YES Program was an Iron Corridor, a low risk options “overlay” strategy, however that was incorrect. Unlike an Iron Corridor, the UBS YES Program’s purchase (calls) and sale (puts) of options was not symmetrical. In addition, UBS bought put options which were further out of the money than the call options. If UBS customers had been apprised of the true risks of the YES Program, they would probably not have invested.
Allegations of Broker Misconduct Against Raymond Byers
A customer of Raymond Byers has alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation to utilize put options writing strategy
- Misrepresentations
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
[LEARN MORE]: Our Investigations of other UBS Financial brokers
If you have suffered investment losses in an account handled by Raymond Byers, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
