In a recent Reuters' article, Miguel A. Ferrer, the former chairman of UBS Financial Services Inc of Puerto Rico, a unit of UBS AG, told a meeting of their brokers on June 2, 2011, in San Juan, that they needed to change their mindset or leave. This was according to an audio recording in Spanish […]

The Securities and Exchange Commission (SEC) announced on May 1, 2012, that they  charged UBS Financial Services Inc. of Puerto Rico and two executives with making misleading statements to investors, concealing a liquidity crisis, and masking its control of the secondary market for 23 proprietary closed-end mutual funds. UBS Puerto Rico will settle the SEC’s charges by […]