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FINRA Orders Ex-UBS Rep to Pay $541,722 for Dispute Over Promissory Notes

FINRA ordered an ex-advisor to pay $541,722 in compensatory damages to UBS, his former firm, after he failed to repay 11 promissory notes as required when he resigned. So reports Think Advisor.

UBSUBS had requested that Jason Lee Seifert repay $582.257 in damages and $120,000 in attorney’s fees.

Seifert denied UBS’ allegations and actually requested substantial sums from the company. He said the firm made “substantial errors and misrepresentations” during his transition to UBS from his prior employer. Seifert had requested $3.55 million in compensatory damages, as well as another $764,000 in exemplary damages.

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