Patrick Gordon Carr (Patrick Carr) Suspended from Securities Industry and Fired by UBS Financial Services, Inc. – Goodman & Nekvasil P.A., May Recover Investor Losses

Goodman & Nekvasil P.A., May Recover Investor Losses - Patrick Gordon Carr (Patrick Carr) Suspended from Securities Industry and Fired by UBS Financial Services, Inc.

From 2008 until Patrick Carr’s firing in 2013, Patrick Carr was licensed with UBS Financial Services, Inc. Patrick Carr is now licensed with Ameriprise Financial Services, Inc. According to FINRA’s records, Patrick Carr was fired by UBS Financial Services, Inc. on August 29, 2013. UBS Financial Services, Inc. reported to FINRA that Patrick Carr’s employment was terminated after a Firm review found that Patrick Carr had circumvented the Firm’s policies on gifts and entertainment when Patrick Carr instructed a client to gift shares of a security to Patrick Carr’s mother-in-law rather than gift the shares directly to Patrick Carr. In addition, UBS Financial Services, Inc. reported to FINRA that Patrick Carr provided inadequate answers during the Firm’s review.

Subsequent to Patrick Carr’s firing by UBS Financial Services, Inc. FINRA investigated Patrick Carr and brought a disciplinary action against Patrick Carr. Patrick Carr was fined $5,000 and suspended for 30 days from the securities and investment banking industry on February 3, 2016. FINRA reports that Patrick Carr consented to the sanctions and to the entry of findings that UBS Financial Services, Inc. prohibited employees from receiving more than $100 in gifts from customers in any one-year period. According to FINRA, the Firm’s procedures also prohibited employees “from using a family member or any other person as an indirect agent or nominee for activity that would be contrary to firm policy if the employee engaged in it directly.”

FINRA reports that on two occasions, Patrick Carr circumvented and violated the Firm’s gift procedures by accepting a gift of stock from a UBS Financial Services, Inc. customer. Specifically, according to FINRA, in 2012 and again in 2013, Patrick Carr accepted gifts of stock from a UBS Financial Services, Inc. customer, each of which was worth more than $100. Indeed, according to FINRA, Patrick Carr accepted a total of 150 shares of stock, which collectively were worth approximately $5,000 at the time. According to FINRA, without the Firm’s knowledge, Patrick Carr arranged for the shares to be transferred, with the customer’s consent, from the customer’s account to a brokerage account in the name of Patrick Carr’s mother-in-law.

If you lost any money on investments with Patrick Carr, you may be able to recover your losses from UBS Financial Services, Inc. and/or Ameriprise Financial Services, Inc. This is because UBS Financial Services, Inc. and Ameriprise Financial Services, Inc. had a duty to supervise Patrick Carr. 

If you lost money on investments with Patrick Carr and believe that the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against UBS Financial Services, Inc. and/or Ameriprise Financial Services, Inc. concerning Patrick Carr’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $300 million on behalf of victimized investors. If you lost money on investments with Patrick Carr and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.  

 

Keywords: Patrick Gordon Carr, Patrick Carr, FINRA, UBS Financial Services, Ameriprise Financial Service, SEC, Fraud, Attorney, Broker, Brokerage, Firm, Brokerage Firm, Invest, Lawyer, Securities Lawyer, Goodman and Nekvasil, Nekvasil, Goodman, Investor, Investment, Financial, Financial Services, Securities 

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