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UBS’ Yield Enhancement Strategy (“YES”) Causes Massive Losses

On August 23, 2019, an extensive article in The Wall Street Journal (“UBS Faces Client Backlash over Options Strategy”), exposed a complex investment strategy pitched as low-risk by stockbrokers at UBS Group AG (NYSE – UBS) that has triggered a backlash from clients of its securities unit. The strategy, called Yield Enhancement Strategy, or “YES,” has reportedly […]

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Clover Technologies Leveraged Loan Collapse

Out of nowhere, a $693 million loan Clover took to the market five years ago lost about a third of its value. This collapse was surprising to insiders who trade corporate loans. Clover had been operating since 1996 when it was acquired by Golden Gate which followed an usual path of private equity buyouts — […]

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GPB Capital Investor Claims

GPB Capital describes itself as a “New York-based alternative asset management firm that seeks to acquire income-producing private companies.” GPB raised more than $1.5 billion in capital held in private limited partnerships that invest primarily in auto dealerships and waste management businesses. Investments in GPB Capital were sold by various brokerage firms including Royal Alliance […]

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Direct Lending Investments

On April 1, 2019, the SEC obtained a preliminary injunction and order appointing a receiver over registered investment adviser Direct Lending Investments, LLC. According to the SEC’s complaint, Direct Lending, through its owner and CEO Brendan Ross, engaged in a multi-year effort to manipulate the performance data for one of Direct Lending’s significant investments in […]

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UBS Yield Enhancement Strategy (YES)

Aidikoff, Uhl & Bakhtiari is investigating the sale of the Yield Enhancement Strategy (“YES”) recommended by financial advisors to UBS customers.  The investigation focuses on UBS sales practices and representations made in connection with the recommendation of the UBS YES program for fixed income customers. UBS’s Yield Enhancement Strategy (“YES”) reportedly had over $5 billion under […]

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