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UBS advisor investigated for allegedly recommending unapproved 99 Acquisition Group investments

Market News
25 Jun 2026, 05:22 WIB
Meyer Wilson Werning
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Bearish
UBS advisor investigated for allegedly recommending unapproved 99 Acquisition Group investments

Meyer Wilson Werning, an investor protection law firm, is investigating UBS advisor Daniel Merithew Allen for allegedly recommending unapproved investments in 99 Acquisition Group LLC to clients. This practice, known as "selling away," violates FINRA rules and could expose UBS to liability. The 99 Acquisition Group dissolved in 2024 after a failed business deal. Investors affected may seek recovery through arbitration if supervisory failures are proven.

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