NOEL K YAMEOGO

NOEL K YAMEOGO is currently employed as a Broker and/or Investment Adviser at UBS FINANCIAL SERVICES INC. located at 1501 K. STREET NW, WASHINGTON, DC, 20005.

NOEL K YAMEOGO has worked at UBS FINANCIAL SERVICES INC. since February 15, 1995

Disclosure History

NOEL K YAMEOGO has 1 Disclosure Event(s).

Date: February 16, 2012
Category: Customer Dispute
Allegations: CLIENT ALLEGES HE WAS MISLED REGARDING INVESTMENT. TIME FRAME: MARCH 18, 2003 - FEBRUARY 16, 2012.
Broker Comment: THE CLAIMANT IS UPSET BECAUSE THE NON-TRADING UNITS WHICH RESULTED FROM THE REFCO BANKRUPTCY FILING IN OCTOBER OF 2005 IN WHICH PARTNERSHIP UNITS WERE TAKEN OFF THE TOP AND PLACED IN ESCROW, WERE REPORTED ON HIS MONTHLY STATEMENTS. THESE NON-TRADING UNITS, IN CONTRAST TO THE TRADING UNITS, WHICH ALSO APPEARED ON THE STATEMENTS, HAD NO INVESTMENT VALUE. THIS WAS EXPLAINED TO THE CLIENT AT LENGTH. THE CLIENT WAS EXPECTING TO RECEIVE MORE MONIES WHEN HE ACTUALLY REDEEMED HIS TRADING UNITS. THROUGHOUT THE LAST 9 YEARS, HE WAS PRESENTED WITH SEVERAL OPPORTUNITIES TO REDEEM HIS UNITS. REDEMPTION FORMS WERE SENT TO HIM, PER HIS REQUEST, WHICH HE NEVER ACTED ON.FROM A SALES PRACTICE STANDPOINT, THE JOHN W HENRY GLOBAL TRUST, A MANAGED FUTURES FUND, WAS SUGGESTED AS PART OF AN OVERALL ASSET ALLOCATION DIVERSIFIER. THE AMOUNT INVESTED CORRESPONDED TO LESS THAN 7% OF THE CLIENT'S INVESTABLE ASSETS AT THE TIME. THE LOW CORRELATION TO TRADITIONAL ASSET CLASSES (EQUITIES AND FIXED INCOME) WAS RESPONSIBLE FOR THE TRADING UNITS ON THIS FUND (WHOSE NAME CHANGED TO R J GLOBAL TRUST AFTER CARGILL SOLD THE TRUST TO REFCO IN AUGUST 2005) BEING UP 40.97% IN 2008 WHEN EQUITY MARKETS WERE DOWN 37% ON AVERAGE.

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