Miller & Milove Investigating UBS/PaineWebber and Merrill Closed End Fund Sales
San Diego based Securities Attorneys continue probe into unlawful sales practices of UBS Financial Services, INC. and Merrill Lynch
On Tuesday, July 28, 2009 FINRA Securities Regulators announced that UBS Financial Services, Inc. and Merrill Lynch have been fined in connection with unsuitable short term trading of Closed End Fund Initial Public Offerings.
Miller & Milove currently represents a former retail customer of UBS Financial Services, Inc. (formerly known as PaineWebber) in connection with the short term trading and repeated “swapping” of Closed End Fund IPO’s and high quality Municipal Bonds at the UBS Century City, California branch. The Closed End Funds involved include Initial Public Offerings of purportedly safe “Bond”, “Income”, “Managed” and “High Yield” investment funds issued and managed by Blackrock, Pimco, Nuveen and others which were underwritten and distributed to the public by UBS/PaineWebber and underwriting syndicates consisting of many Wall Street firms since the 1990s.
Miller & Milove continues its investigation of sales practices of UBS Financial Services, Inc. and PaineWebber and encourages victims of unsuitable and short term trading of Closed End Bond Funds, Municipal Bonds or IPO’s of Closed End Funds to contact Miller & Milove.
The Law Firm of Miller & Milove represents investors victimized by financial fraud and mismanagement. Conservative bond, income and stock investors continue to become aware of unlawful practices of Securities Brokers, Investment Advisors and Wall Street firms in the wake of the national financial crisis. Investors have been misled and suffered substantial losses in various Closed End Bond and Mutual Funds, Structured Investment Products, purported Income Funds and the like that were represented as safe havens for conservative investors.
Securities Regulators and investors’ attorneys such as Miller & Milove continue to discover fraudulent sales practices which have caused substantial damage to the investing public.
