Complaint: Baltimore Advisor Jeremy Reed Failed to Follow Instructions

UBS Financial Services advisor Jeremy Reed (CRD# 5929998) allegedly failed to follow a customer’s instructions, according to a pending investor complaint against him. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor based in Baltimore, Maryland. 

Mr. Reed’s BrokerCheck report discloses one investor complaint. Filed in September 2022, it alleges that as a representative of UBS Financial Services, he failed to follow the customer’s instructions to change to “a more defensive and protective position.” The pending complaint alleges damages of $85,217.04.

Under FINRA Rule 2010, brokers like Jeremy Reed are required to “observe high standards of commercial honor and just and equitable principles of trade.” The failure to follow a customer’s instructions in one of many types of unethical conduct that might be found to FINRA Rule 2010, provided the activities occur “in the conduct of [the member’s] business.” FINRA Rule 2111, meanwhile, requires brokers to “have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile.” More information on these rules is available via FINRA.

According to the Financial Industry Regulatory Authority, Jeremy Reed holds 11 years of securities industry experience. Based in Baltimore, Maryland, he has been a broker and an investment advisor with UBS Financial Services since 2015. His past registrations include Morgan Stanley (Columbia, Maryland; 2013-2015) and Alms and Associates (Columbia, Maryland; 2011-2012). His credentials include the passage of six securities industry qualifying exams: the National Commodity Futures Examination, or Series 3; the Retail Off-Exchange FOREX Examination, or Series 34; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, California, Colorado, Delaware, the District of Columbia, Florida, Georgia, Illinois, Maryland, Michigan, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and West Virginia. (Information current as of October 19, 2022.)

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