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Carolann Brown Fired from UBS Financial Services Following Allegations of False Attestation

Nov 2, 2021 Employment

Carolann Brown (CRD #: 1042653), an investment advisor and a former registered broker has been fired from her position at UBS Financial Services, according to her BrokerCheck record, accessed on October 27, 2021. Details surrounding her termination have been provided below.

Employment Termination Details

On August 30, 2021, Carolann Brown was discharged from her position at UBS Financial Services following allegations that she failed to obtain prior client authorization for a trade and also entered a false attestation into firm books and records.

FINRA Rule 3260 

FINRA Rule 3260 states that brokers should always have their investor’s authorization before they execute a securities transaction unless they’re trading in a securities account that has been authorized for discretionary trading.

FINRA Rule 4511

FINRA Rule 4511 requires member firms and their associated persons to make and preserve books and records in conformity with Section 17(a) of the Exchange Act and Exchange Act Rule 17a-3. A registered representative who falsifies firm records causes the firm to maintain inaccurate books and records in violation of FINRA Rule 4511.

FINRA Rule 2010

FINRA Rule 2010 requires member firms and their associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” Falsifying documents is inconsistent with just and equitable principles of trade and violates FINRA Rule 2010. 

Carolann Brown Background Information

Carolann Brown has passed the following exams:

  • Series 65 - Uniform Investment Adviser Law Examination
  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 3 - National Commodity Futures Examination
  • Series 7 - General Securities Representative Examination

She is a registered investment adviser in Rhode Island. 

Carolann Brown has worked with the following firms:

  • UBS Financial Services (CRD#: 8174)
  • Wachovia Securities (CRD#: 19616)
  • Prudential Securities Incorporated (CRD#: 7471)
  • Painewebber Incorporated (CRD#: 8174)

Kurta Law Can Help

If you lost money while working with Carolann Brown, don't hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For nearly 20 years, Kurta Law has advocated for investors 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.