According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), former UBS broker James Carlson allegedly violated securities laws. Between October 2014 and June 2015, Carlson allegedly executed 39 discretionary transactions in the accounts of 13 customers. He had not obtained prior written authorization from the customers to exercise discretion in their accounts, and UBS had not accepted the customer accounts as discretionary accounts. UBS prohibits discretionary trading in non-discretionary accounts. For this, Carlson was suspended from the industry for 15 days and fined $5,000. James Carlson was previously registered with Morgan Stanley in Greensboro, North Carolina from October 2000 until April 2007, Morgan Stanley in Greensboro from April 2007 until June 2009 and Morgan Stanley in Greensboro from June 2009 until February 2011. He is currently registered with UBS in Greensboro, and has been since February 2011.
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