UBS AG was ordered by the Financial Industry Regulatory Authority (FINRA) to buy back an investor's Puerto Rico bond fund for $1 million. A San Juan FINRA arbitration panel found two UBS units liable to the 66+ year-old investor whose losses were $737,000 only four years after he opened his account in 2011. This FINRA ruling is one of the first involving the risky bonds. Also, on May 14th. a FINRA arbitration panel ordered UBS AG to pay an investor $200,000 for losses in the PR bond funds.
According to Rueters, some of the PR bond funds lost one-half to nearly two-thirds of their value between March 2011 and October 2013. This was due to fears about the size of Puerto Rico's debt and the weakness of its economy. The island has still not recovered.
UBS is defending against hundreds of arbitration claims filed with FINRA, seeking more than $900 million.
Securities attorney Lars Soreide of Soreide Law Group, is still actively filing cases against broker/dealers for investors who suffered substantial losses from Puerto Rican bond investments. Call (888) 760-6552, for a free consultation if you've invested in Puerto Rico Bond Funds.
Soreide Law Group is investigating potential investor claims involving Blue Owl Capital Corporation (NYSE: OBDC), including whether brokers and financial advisors properly explained the risks surrounding this publicly traded business development company and its related private credit platform. OBDC invests primarily in loans to middle-market companies and is often marketed as an income-generating investment. However, […]
Investors potentially experienced sales practice violations by securities broker Mark Perry Kissinger [CRD: 4546631, Frisco, Texas], given the disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Kissinger worked for NYLIFE Securities LLC since November 27, 2018, and Eagle Strategies LLC since March 15, 2023. Read on for a better understanding about the disclosures involving this […]
Investors have reportedly disputed the sales practices of securities broker Robert Steven Wilkinson [CRD: 1180321, Oakland, California], according to publicly available information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Wilkinson worked for Western International Securities Inc. from November 26, 2013, to June 5, 2025, and later registered with LPL Financial LLC beginning June 5, […]
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