Simon Clarke Allegedly Misrepresented Unsuitable Options Overlay Strategy

Simon Clarke (CRD #: 4232824), a broker registered with UBS Financial Services, allegedly made misrepresentations, according to his BrokerCheck record, accessed on November 21, 2022. Read on if you want to know more about his conduct as a broker.

Investor Dispute

On August 9, 2022, an investor alleged that Simon Clarke made misrepresentations and made unsuitable recommendations to invest in and hold an options overlay strategy from 2016-2020. The client seeks $518,000 in this pending dispute.

A dispute filed on December 17, 2019, made similar allegations of unsuitability and misrepresentation with regard to an options overlay strategy. The client seeks $600,000 in this pending dispute.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulative, deceptive, or otherwise fraudulent tactics to influence investors’ decisions. Misrepresenting an investment’s features, risks, or potential returns violates this rule.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. An investor’s profile includes information about their risk tolerance, financial goals, and age.

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

Background Information

Simon Clarke has passed the following exams:

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

Simon Clarke is a registered broker in 22 states and a registered investment adviser in New Jersey and Texas.

He has previously worked for Credit Suisse Securities (USA) (CRD#:816) and Donaldson Lufkin & Jenrette Securities Corporation (CRD#:7560).

Kurta Law Can Help

If you worked with Simon Clarke 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.