The struggling Puerto Rican municipal bond market is forcing the Financial Industry Regulatory Authority Inc. (FINRA) to hire more arbitrators in Puerto Rico, after they were swamped with over 200 investor lawsuits.
After Detroit filed bankruptcy last summer, Puerto Rico's municipal bond market has been struggling. Investors are afraid of Puerto Rico's municipal debt of over $70 billion causing the S&P Index to drop 15.24% over the past year. This has opened the floodgates on claims against the broker/dealers who sold the Puerto Rico municipal bonds. UBS was one of the largest sellers of municipal bonds in Puerto Rico.
FINRA is now actively recruiting arbitrators in Puerto Rico to handle the high number of cases. FINRA can also send arbitrators from Florida or other nearby states.
Fort Lauderdale-based, Soreide Law Group, and attorney Lars Soreide, are actively filing cases against broker/dealers for losses sustained by Puerto Rican bond investments. Call (888) 760-6552 if you invested in Puerto Rico Bond Funds.
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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