Fernando Luis Castillo Rivera (CRD#: 1260734, San Juan, Puerto Rico) has been a registered representative of UBS Financial Services Inc. since June 6, 1984. Rivera disclosed on Financial Industry Regulatory Authority (“FINRA”) BrokerCheck that his activities have led customers to file FINRA Arbitration #14-02509, alleging Rivera committed sales practice violations.
The customers have claimed that unsuitable investment recommendations and misrepresentations had been made to them with regard to the customers’ closed-end Puerto Rico municipal bond fund purchases. As a result of the poor investment advice and misrepresentations, the customers have requested $500,000.00 in damages. The arbitration is still underway.
Rivera has disclosed a total of 16 customer-initiated investment-related disputes from UBS Financial Services customers that refer to sales practice violations including unsuitability and misrepresentations. Some of the more recently filed disputes include the following:
On July 11, 2018, a customer of UBS Financial Services filed FINRA Arbitration #18-02495. The customer alleged that it was not appropriate for Rivera to have recommended UBS Puerto Rico Closed-End Funds. Apparently, there was an over-concentration of those investments in the customer’s account, which the customer claimed to be unsuitable. In addition, the customer stated that the investments were misrepresented, and important information about the investments had not been disclosed. Therefore, the customer requested $100,000.00 in damages. The arbitration is pending.
Several UBS Financial Services customers filed FINRA Arbitration #16-02847 on September 29, 2016. According to the customers, Rivera was responsible for making misrepresentations and poorly advising the customers concerning their purchases of closed-end funds. Because of this, UBS Financial Services agreed to pay the customers a total of $700,000.00 to settle the allegations of misrepresentation and unsuitability.
On June 28, 2016, a customer of UBS Financial Services filed a complaint with the firm contending that Rivera was involved with misrepresented and unsuitable structured products being purchased by the customer. Moreover, it was alleged that the customer’s investment account had not been properly managed. Because of this, a total of $87,579.00 in damages has been requested by the customer. UBS Financial Services denied the customer’s complaint on August 23, 2016.
The remainder of the customers have referenced allegations of misrepresentations, omissions and unsuitable investment recommendations. So far, 12 customer disputes have been settled for a total of $2,222,500.00 in damages.
If you have suffered losses by investing with Fernando Luis Castillo Rivera, call (888) 760-6552 for a free consultation with Soreide Law Group’s experienced counsel. Our firm has recovered millions of dollars for investors who have been victim to broker and brokerage firm misconduct. We represent clients on a contingency fee basis and advance all costs.
Pending customer claims on BrokerCheck name Michael Graham (CRD 3263494) and list LPL Financial as the firm. Each claim is pending and unproven, and no arbitrator has ruled on any of them. The customers allege that Graham misrepresented guaranteed principal and returns on a secured loan related to a real estate deal.
An SEC decision involving Titan Securities (CRD 131392) of Plano, Texas became final on August 7, 2026, according to FINRA's October 2026 Disciplinary and Other FINRA Actions report. The decision fined the firm $50,000. The record lists the firm as JTA Securities Management, Inc. dba Titan Securities.
Every settled customer dispute on Peter Maller's BrokerCheck report names Lincoln Financial as the firm. Maller holds CRD number 2322403. The newest dispute, filed on March 5, 2024, settled on August 15, 2024 for $12,500 against alleged damages of $50,000. The claimants alleged that the representative represented an oil and gas investment as safe.
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