Six Morgan Stanley financial advisers previously managing about $1.79 billion in client assets for UBS Financial Services have been slapped with a lawsuit filed by their former employer on Friday in the Southern District of Florida.

And Teresa J. Verges, a former assistant director of enforcement for the Securities and Exchange Commission and the current director of the investor rights clinic at the University of Miami School of Law, said UBS has a larger problem if the allegations it has made against the financial advisers are true. Among them is the potential violation of Regulation SP, which is a rule that protects confidential client information.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]