Soreide Law Group is investigating possible investor claims against UBS Financial Services securities representative and sales supervisor Dario Suarez (CRD#: 1143417, Ponce, PR). Alarmingly, FINRA BrokerCheck reports 72 investor claims regarding Suarez’s sales practice violations. Investors brought a steadily increasing amount of disputes against Suarez since 2014 regarding unsuitable Puerto Rico bonds. Here’s a summary of some recent claims:

UBS Customer Indicates David Suarez Made Bad Puerto Rico Municipal Bond Recommendations

A customer of UBS Financial Services Inc. brought FINRA Arbitration #: 19-01946 on July 15, 2019. Allegedly, Dario Suarez, or those under his control, recommended that the customer buy Puerto Rico municipal bonds. Supposedly, Suarez should not have invested the customer’s assets in the Puerto Rico Bonds. Not only that, but Suarez falsely detailed the risks with holding large portions of the municipal bonds in the customer’s account. Apparently, by overconcentrating the account, the customer’s risks increased drastically and caused the customer losses. For this reason, the customer demanded between $50,000 and $100,000.00 in damages in this pending matter.

Investor Brings Arbitration Claim Indicating Suarez Misrepresented Risks Of Puerto Rico Funds

Suarez reports that a UBS Financial Services customer disputed Dario Suarez’s sales practices in bringing FINRA Arbitration #: 19-01769. Allegedly, Suarez misrepresented information about the risks of Puerto Rico Closed End Funds and Puerto Rico Municipal Bond funds. In addition, the customer contended that those Puerto Rico investments were inappropriate or unsuitable. For these alleged sales practice violations, the customer seeks compensatory relief of $115,000.00 in this ongoing matter.

UBS Financial Customer Files Arbitration Indicating Dario Suarez Over-Concentrated Investments

A customer of UBS Financial Services brought FINRA Arbitration #: 19-01885 on July 5, 2019. Apparently, this customer, like the other customers, invested in Puerto Rico closed end funds and municipal bonds because of Dario Suarez. Apparently, Suarez exposed the customer to unreasonable risks by overconcentrating these assets in the risky investments. For this reason, the customer demanded $1,000,000 to resolve the allegations of unsuitability, over-concentration, and misrepresentation. This claim is pending a resolution as of August 29, 2019.

In most of the 72 claims, Dario Saurez is subject to misrepresentation, unsuitability, and over-concentration claims against UBS as it relates to Puerto Rico investments. Evidently, after Puerto Rico dealt with a government debt crisis spanning nearly four decades, its bonds were downgraded in 2014, eventually causing investors to experience drastic losses.

Lars Soreide Highest Ethical Standard Award 2018

Lars Soreide Highest Ethical Standard Award 2018

Experienced losses through investing with securities broker Dario Saurez? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have suffered losses due to misconduct of brokers and brokerage firms.