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Alex Chivarsky Allegedly Misrepresented Investment Strategy

Alex Chivarsky (CRD #: 5108596), a broker registered with UBS Financial Services, allegedly misrepresented an investment strategy, according to his BrokerCheck record, accessed on May 4, 2023. If you want to know more about his alleged conduct as a broker, keep reading.

Investor Dispute

On February 21, 2023, an investor filed a dispute alleging that Alex Chivarsky engaged in misrepresentation and negligence with regard to recommendations of an unsuitable investment allocation strategy from 2017-2020.

The client further alleged that this strategy underperformed and that Alex Chivarsky improperly recommended that they increase the balance on a securities-backed line of credit.

The investor seeks $800,000 in damages in this pending dispute.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of deception, manipulation, and other fraudulent means of influencing the purchase and sale of securities. Misrepresenting an investment’s limitations, fees, or other features violates this rule.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that adequately fit an investor’s financial goals. Brokers must consider the information in the investor’s profile, including their age, tax status, and risk tolerance.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

What qualifies as broker negligence?

Many types of broker misconduct may qualify as negligence. Typical examples include misrepresentations or omissions of material fact, unsuitable investment recommendations, and unauthorized trading.

Investors who have lost money through broker negligence may be able to recover their funds by seeking out FINRA arbitration.

Background Information

Alex Chivarsky has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Alex Chivarsky is a registered broker in all 50 states as well as the District of Columbia and the Virgin Islands. He is also a registered investment adviser in California and Texas.

Kurta Law Can Help

If you worked with Alex Chivarsky and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.