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Joshua Axel Allegedly Executed Unauthorized Equity Purchase

Joshua Axel (CRD #: 4227334), a broker registered with UBS Financial Services, allegedly executed an unauthorized purchase, according to his BrokerCheck record, accessed on January 19, 2023. If you want to know more about his alleged conduct as a broker, read more.

Investor Dispute

On December 2, 2022, a trustee alleged that Joshua Axel purchased more than $200,000 of an equity without notifying him, leading to total losses. The investor further alleges that this is an especially significant loss given his age. This dispute was denied by the firm.

However, investors should be aware that firms don’t need to allow an outside review before denying disputes. Investors can still seek out FINRA arbitration after a denial and may be able to recover their losses.

FINRA Rule 3260

Unauthorized trading violates FINRA Rule 3260, which restricts brokers from executing discretionary trades outside of pre-authorized discretionary accounts. Both the firm and the client must approve an account before discretionary trading can occur.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Background Information

Joshua Axel has passed the following exams:

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

Joshua Axel is a registered broker in 27 states and a registered investment adviser in California and Texas.

Kurta Law Can Help

If you worked with Joshua Axel 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.