GLENDALE, CALIFORNIA
Have you lost money investing in variable annuities through UnionBanc Investment Services Securities? We are currently investigating allegations made against UnionBanc Investment Services Securities, a Glendale, California-based securities brokerage firm. FINRA (the Financial Industry Regulatory Authority) brought a regulatory action against the brokerage firm, making allegations that it failed to supervise certain variable annuity transactions between January 2016 and December 2018.
In particular, FINRA alleged that UnionBanc Investment Services Securities failed to adequately supervise transactions involving living benefit riders, in which customers may have lost living benefits during an annuity exchange. To settle these allegations, UnionBanc Investment Services Securities agreed to pay a $100,000 fine.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Phoenix, Arizona; Seattle, Washington; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including California. Our attorneys have represented over one thousand investors against many brokerage firms in the past.