KEVIN PATRICK PORTER is currently employed as a Broker and/or Investment Adviser at UBS FINANCIAL SERVICES INC. located at 8 Wright Street, WESTPORT, CT, 06880-4701.
KEVIN PATRICK PORTER has worked at UBS FINANCIAL SERVICES INC. since May 13, 2005
KEVIN PATRICK PORTER has 2 Disclosure Event(s).
Date: October 25, 2007 Category: Regulatory Initiated By: STATE OF NEW YORK INSURANCE DEPARTMENT Allegations: VIOLATION OF SECTION 21109(A)(4) OF THE INSURANCE LAW REGARDING LATE PAYMENT OF ADDITIONAL FEE FOR LICENSE RENEWAL APPLICATION. Resolution: Stipulation and Consent SanctionDetails: Sanctions: Monetary/Fine SanctionDetails: Amount: $500.00 Sanction Details: PAYMENT OF THE FINE WAS MADE ON 10/26/2007. Broker Comment: I AM SIGNING THIS FORM AND ACKNOWLEDGING THAT A FINE WAS ASSESSED FOR LATE PAYMENT OF A REGISTRATION FEE BUT I STRONGLY FEEL THAT IS AN ADMINISTRATIVE ERROR AND SHOULD NOT BE ON MY U4. IN ESSENCE WHAT OCCURRED WAS THAT AN INVOICE FOR AN ADDITIONAL FEE FOR MY NEW YORK INSURANCE LICENSE WAS SENT TO MY FORMER FIRM, SMITH BARNEY, WHILE I WAS IN TRANSITION TO MY NEW FIRM, UBS. SMITH BARNEY NEVER FORWARDED THE INVOICE; THEREFORE, I WAS UNDER THE IMPRESSION THAT I WAS COMPLETELY UP-TO-DATE WITH ALL MY REGISTRATIONS. SUBSEQUENTLY, WE WERE NOTIFIED THAT MY NEW YORK LICENSE WAS SUSPENDED DUE TO THE NON PAYMENT. WE QUICKLY BROUGHT ALL THE PAYMENTS UP TO DATE, PAID A $500 FINE AND REINSTATED MY LICENSE. THIS WHOLE MATTER IS AN EXAMPLE OF BUREAUCRACY AT ITS WORST AND REPRESENTS A WASTE OF TIME FOR EVERYONE INVOLVED.
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