Current Investigations

Nicolas Barrios Discharged From UBS Financial Services

By June 13, 2019 No Comments

Nicolas Barrios was a Florida based securities broker. He worked in the securities industry for twenty-eight years. During his career, he was registered with five different securities firms.

His registrations included; Chatfield Dean & Co. (1991), Merrill Lynch (1991-1999), First Union Brokerage Services (1999-2000), Wachovia Securities (2000-2008), and UBS Financial Services. He is no longer working as a registered securities broker in any fashion.

Nicolas Barrios’ publicly available FINRA BrokerCheck report shows that he is currently the subject of a pending customer complaint. In April 2019, a customer’s beneficiaries alleged that Nicolas Barrios placed her stocks far too risky for her age. The beneficiaries further alleged that Barrios took the customers money and used it to purchase securities outside the scope of UBS. It was alleged that the customer in question did not authorize these outside trades. She was under the impression that her money was safe.

Nicolas Barrios was discharged from his position at UBS Financial Services two days after he received the above mentioned complaint. The firm alleged that Barrios invested multiple customers in the unapproved private security mentioned above. He allegedly did this without approval from UBS and even used his personal email set up the deals in order to avoid detection from UBS.

FINRA eventually opened up an investigation into the allegations that he mismanaged and committed fraud on the above mentioned customer’s account. During the investigation, Nicolas Barrios allegedly failed to provide FINRA with the documents and information they had requested of him and thus barred him from acting as a securities broker in any fashion.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Nicolas Barrios, please contact Oakes & Fosher for a free and private consultation.