26/5/2025, 5:57:03 pm

UBS Client Can’t Sue Bank Over Broker’s Alleged Affair With Wife

A UBS client, Richard Kallman, can sue broker Ira Walker but not the bank, a New York judge ruled. Kallman alleges Walker had an affair with his wife and helped her control family funds. Many claims go to arbitration, but emotional distress claims proceed to trial. The case highlights issues when brokers have personal ties with clients.