FINRA barred former UBS Financial Services broker Jeffrey Hamilton Howell for purportedly providing false weekly account statements to a customer over a six-year period, in which he inflated the account's value by several millions of dollars.
The findings state that over the course of six years, Howell created and sent his customer over 300 weekly "Stock Tracking Reports" purporting to reflect the value of the customer's portfolio, but instead misstated the value of the account by about $3 million by the end of the six-year period.
Howell allegedly used his own personal e-mail address to send certain Stock Tracking Reports to the customer, which was in contravention of UBS policy, and which resulted in UBS' inability to preserve this customer correspondence as required by industry rules, causing inaccurate books and records.
FINRA accused Howell of altering three UBS account statements to match the Stock Tracking Reports' false information in an effort to conceal the misconduct, and noted that Howell refused to respond to FINRA's request for testimony as requested.
The AWC indicates that UBS terminated Howell's employment following the aforementioned misconduct.
If you have invested with former UBS Financial broker Jeff Hamilton Howell or with any broker or financial adviser who has provided you with false account statements, corresponded or sent you such reports using their personal e-mail address away from the firm, or whose other misconduct in contravention of firm and industry procedures and rules has proven harmful to your investments and interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for investigation and consultation.