WESLEY DAY TATE is currently employed as a Broker and/or Investment Adviser at UBS FINANCIAL SERVICES INC. located at ONE TOWER LANE-STE 1700, OAKBROOK TERRACE TOWER, OAKBROOK, IL, 60181.
WESLEY DAY TATE has worked at UBS FINANCIAL SERVICES INC. since July 11, 2011
Disclosure History
WESLEY DAY TATE has 2 Disclosure Event(s).
Date: February 20, 2004 Category: Customer Dispute Allegations: CLIENT ALLEGED UNSUITABLE AND UNAUTHORIZED TRANSACTIONS - MARCH 2000. Damage Amount Requested: $63,828.62 Settlement Amount: $5,000.00 Broker Comment: THE CLAIM WAS SETTLED FOR $5,000.
Date: January 11, 1995 Category: Customer Dispute Allegations: MISREPRESENTATION, SUITABILITY, ASSERTEDLOSSES: $13,900,000.00 Damage Amount Requested: $13,900,000.00 Damages Granted: $400,000.00 Broker Comment: IN A 2-1 DECISION, THE PANEL RENDERED AN AWARDAGAINST SMITH BARNEY AND TATE FOR A TOTAL OF $1,800,000.00TATE RECOMMENDED THAT CUSTOMER PLACE 75% OF ITS CASHIN SHORT-TERM OR FLOATING RATE BONDS AND 25% IN LONGER-TERMFIXED RATE PREFERRED STOCKS. CUSTOMER PLACED 25% OF ITS CASH WITHTATE TO BE INVESTED IN FIXED RATE PREFERRED. LATER CUSTOMER RAISED$86M IN A PUBLIC OFFERING AND PLACED $40M WITH TATE. SHORTLYTHEREAFTER, INTEREST RATES ROSE AND FIXED RATE INVESTMENTSDROPPED. SMITH BARNEY CONTENDED THAT CUSTOMER'S TIME HORIZON FOR ITSLONG-TERM MONEY WAS MINIMUM OF TWO YEARS. HAD CUSTOMER LEFT ITSPORTFOLIO INTACT THROUGH DECEMBER 1995, IT WOULD HAVE HAD APOSITIVE TOTAL OF $6.1M; INDEED THE ACTUAL PORTFOLIO RESULTEDIN A POSITIVE TOTAL RETURN OF $3.6M.
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