Goodman & Nekvasil P.A., May Recover Investor Losses – Derek Steven Fish (Derek Fish) Suspended from Securities Industry and Fired by UBS Financial Services, Inc.
From 2003 until Derek Fish’s firing in 2013, Derek Fish was licensed with UBS Financial Services, Inc. Derek Fish is now licensed with Ameriprise Financial Services, Inc. According to FINRA’s records, Derek Fish was fired by UBS Financial Services, Inc. on August 29, 2013. UBS Financial Services, Inc. reported to FINRA that Derek Fish’s employment was terminated after a Firm review found that Derek Fish had circumvented the Firm’s policies on gifts and entertainment when Derek Fish, on multiple occasions, instructed a client to gift shares of a security to Derek Fish’s family member rather than gift the shares directly to an account that Derek Fish controlled. In addition, UBS Financial Services, Inc. reported to FINRA that Derek Fish provided inadequate answers during the Firm’s review.
Subsequent to Derek Fish’s firing by UBS Financial Services, Inc. FINRA investigated Derek Fish and brought a disciplinary action against Derek Fish. Derek Fish was suspended for 3 months from the securities and investment banking industry and fined $15,000 on January 5, 2016. FINRA reports that Derek Fish consented to the sanctions and to the entry of findings that Derek Fish circumvented and violated Derek Fish’s member Firm’s gift procedures by accepting gifts of stock from a Firm customer. The findings stated that Derek Fish accepted a total of 750 shares of stock, which collectively were worth approximately $23,000 at the time. FINRA reports that Derek Fish concealed Derek Fish’s receipt of these gifts by arranging for the shares to be transferred, with the customer’s consent, from the customer’s account to an account at the Firm in the name of Derek Fish’s father-in-law. According to FINRA, Derek Fish’s father-in-law subsequently sold the shares for $31,000 and gave the proceeds to Derek Fish.
If you lost any money on investments with Derek Fish, 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 Derek Fish.
If you lost money on investments with Derek Fish 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 Derek Fish’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 Derek Fish 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.
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