JANE WASSERSTROM is currently employed as a Broker and/or Investment Adviser at OPPENHEIMER & CO. INC. located at 825 3RD AVENUE, 17TH FLOOR, NEW YORK, NY, 10022.
JANE WASSERSTROM has worked at OPPENHEIMER & CO. INC. since April 10, 2018
JANE WASSERSTROM has 2 Disclosure Event(s).
Date: February 27, 2018 Category: Employment Separation After Allegations Firm Name: UBS FINANCIAL SERVICES INC Termination Type: Discharged Allegations: The investigation uncovered that the employee violated firm policy by (i) failing to call a client to confirm a wire request (ii) instructing support staff to process the disbursement. Broker Comment: On November 20, 2017, I received an email from a long-standing client requesting a wire transfer of funds on hand with UBS to a bank account which he designated in the email. To comply with company policy, I emailed the client telling him that I would need verbal (oral) confirmation of his emailed instruction. The client emailed that he was unavailable to speak with me at that time. I advised my assistant to send the wire transfer by the close of business on that day believing-consistent with my past practice with this and other clients-that the necessary oral confirmation would occur during the course of the day. I was completely unaware that my client's email account had been hacked and that my follow-up with the client was instead going to a hacker rather than my client. Unfortunately, on the same day, I was compelled to leave the office midday to attend to the medical needs of my brother who is disabled and over whom on that day I had sole responsibility for monitoring his care. After speaking with the client on the morning of November 21, 2017, I found out that he did not make the request and his email had been hacked. I quickly took action to reverse the transfer, and neither the client nor UBS suffered any loss or liability. I also immediately alerted management to explain that the client's email account had been hacked in addition to advising of the issues concerning my brother which had served to distract me on the day in question. I heard nothing more from management about the incident until more than 3 months later (on Tuesday, February 27, 2018), when I was informed that a decision had been made to terminate my employment, effective immediately. I was given no notice, no warning, nor "progressive discipline" (as had been the case with others in similar circumstances). Appreciating a financial institution's obligation to promptly and properly document "reportable events," I continue to believe that termination of my 12 year tenure of employment with UBS was not a necessary response to the issue presented in this instance.
Date: July 05, 2011 Category: Customer Dispute Allegations: TIME FRAME: MAY 2008CLAIMANT ALLEGES THAT, IN MAY 2008, UBS RECOMMENDED THAT HE SELL TOBACCO BONDS & REINVEST THE PROCEEDS OF $234,456 IN FANNIE MAE PREFERRED STOCK. CLAIMANT ALLEGES THAT THIS RECOMMENDATION WAS UNSUITABLE. Settlement Amount: $105,500.00 Broker Comment: I WAS NOT NAMED AS A RESPONDENT IN THE COMPLAINT AND I ASSERT THAT I MADE NO UNSUITABLE RECOMMENDATIONS WITH RESPECT TO THE FANNIE MAE PREFERRED STOCK AT ISSUETHE PRECIPITOUS DECLINE IN THE VALUE OF THE PREFERRED WAS DUE TO CATACLYSMIC ECONOMIC EVENTS AND GOVERNMENTAL ACTIONS THAT COULD NOT HAVE BEEN ANTICIPATED. THE CASE WAS SETTLED TO AVOID FURTHER DEFENSE COSTS AND I WAS NOT ASKED TO CONTRIBUTE ANY MONIES TOWARD THE SETTLEMENT OF THIS MATTER.
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A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.
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