RICHARD SCOTT HENNINGSEN is currently employed as a Broker and/or Investment Adviser at UBS FINANCIAL SERVICES INC. located at 3000 A STREET, SUITE 100, ANCHORAGE, AK, 99503.
RICHARD SCOTT HENNINGSEN has worked at UBS FINANCIAL SERVICES INC. since July 17, 2013
Disclosure History
RICHARD SCOTT HENNINGSEN has 1 Disclosure Event(s).
Date: June 19, 2008 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT HE WAS APPROACHED ABOUT AN ALTERNATIVE INVESTMENT (AUCTION RATE SECURITIES) FOR THE MONEY HELD IN HIS LOW INTEREST SAVINGS ACCOUNT THAT WOULD BE A SAFE, VERY LIQUID ALTERNATIVE WHICH WOULD EARN A BIT MORE INTEREST. CLIENT FURTHER STATES THAT THESE AUCTIONS HAVE NOW FAILED. DAMAGES ARE ESTIMATED TO BE IN EXCESS OF $5,000. Damage Amount Requested: $5,000.00 Settlement Amount: $250,000.00 Broker Comment: THE COMPLAINT AROSE IN CONNECTION WITH THE INDUSTRY EIDE BREAKDOWN OF LIQUIDITY IN THE MARKET FOR AUCTION RATE SECURITIES ("ARS"). THE FIRM AGREED TO REPURCHASE THE ARS SECURITIES AT ISSUE AT PAR VALUE FROM THE CLIENT PURSUANT TO A GLOBAL REPURCHASE AGREEMENT IT ENTERED INTO WITH SEVERAL REGULATORY BODIES. THIS WAS NOT A SETTLEMENT OF A DISPUTE BETWEEN THE CLIENT AND THE REPRESENTATIVE AND WAS NOT BASED ON THE MERITS OF THE CLIENT'S SPECIFIC CONCERNS OR ANY FINDING OF FAULT OR WRONGDOING BY THE NAMED REPRESENTATIVE. THE NAMED REPRESENTATIVE WAS NOT A PARTY TO, AND DID NOT AGREE TO OR PARTICIPATE IN, THE REPURCHASE AGREEMENT BETWEEN THE FIRM AND THE RELEVANT REGULATORY BODIES. THE NAMED REPRESENTATIVE DID NOT MAKE ANY PAYMENTS TO THE CLIENT AND THE NAMED REPRESENTATIVE WAS NOT ASKED TO AND DID NOT CONTRIBUT TO THE SETTLEMENT AMOUNT. THE LISTED "SETTLEMENT AMOUNT" REPRESENTS ONLY THE GROSS INITIAL PAR VALUE OF THE ARS POSITION AND DOES NOT TAKE INTO ACCOUNT THE ACTUAL VALUE OF THE ARS POSITION AT THE TIME THE FIRM RECEIVED IT BACK FROM THE CLIENT IN CONNECTION WITH THE SETTLEMENT. THIS MATTER IS BEING REPORTED AS A SETTLEMENT PURSUANT TO THE REQUIREMENTS OF FINRA REGULATORY NOTICE 09-12.
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