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Investors Seek $2 Million in Damages in Donald Mahoney Dispute

May 6, 2022 Failure to Supervise

Donald Mahoney (CRD #: 1233362), a broker registered with UBS Financial Services, is embroiled in an active dispute, according to his BrokerCheck record, accessed on May 1, 2022. If you have questions about Donald Mahoney’s conduct as a broker, read on.

Investor Dispute

On January 4, 2022, an investor filed a dispute against Donald Mahoney and UBS Financial Services. The client alleges that, during the transition of their assets from another firm to UBS Financial, their assets were invested in cash for 10 days instead of securities.

The investor alleges negligent misrepresentation and omission of information, negligent failure to supervise, and breaches of contract. They seek $2,000,000 in damages and claim that they suffered losses beyond this amount. This dispute is pending.

What Qualifies as Negligence?

Many broker behaviors may qualify as negligence, from mismanagement of accounts to unauthorized trading. Investors can recover losses caused by broker negligence through FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 bans the use of deception, manipulation, and other kinds of fraudulent tactics to influence investors’ decisions. Misrepresentation and omission of information fall under this rule.

FINRA Rule 3110

FINRA Rule 3110 requires firms to create and maintain systems of supervision for their employees. This includes ensuring supervisors have adequate training or experience for their positions.

Background Information

Donald Mahoney has passed the following exams:

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

Donald Mahoney is a registered broker in 17 states and the District of Columbia. He is also a registered investment adviser in six states.

He has also worked for Barclays Capital (CRD#:19714).

Kurta Law Can Help

If you worked with Donald Mahoney and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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.