It was recently reported in the New York Times that UBS Puerto Rico is now investigating it's own brokers over the sales of leveraged bond funds. One such fund is the Tax Free Puerto Rico Fund II which has a leverage ratio of fifty-three percent. Recently, one broker was put on administrative leave for the recommending this fund to a client and suggesting he borrow money to invest in this fund.
A financial advisor of UBS Financial Services Inc. of Puerto Rico, David Lugo, is being investigated for alleged sales of proprietary municipal and leveraged bond funds, including the Tax Free Puerto Rico Fund II.
The Securities and Exchange Commission, SEC, issued a Cease-and-Desist Order in an Administrative Proceeding, on May 1, 2012, against UBS Puerto Rico. UBS Puerto Rico agreed to pay $26 million in disgorgement to settle charges that it sold allegedly mispriced closed end funds to investors.
Please see the most recent blog articles regarding Soreide Law Group and the lawsuits filed against UBS at:
https://www.securitieslawyer.com/securitieslawyerblog/?p=3907
https://www.securitieslawyer.com/securitieslawyerblog/?p=3903
If you purchased funds from UBS of Puerto Rico (https://www.securitieslawyer.com/ubspuertoricofundloss.html), or through UBS in the United States, please call (888) 760-6552 for a free consultation on how you may be able to recover your investment losses. Soreide Law Group (https://www.securitieslawyer.com) is currently representing investors nationally and internationally against UBS.
Investors potentially experienced sales practice violations by securities broker Matthew R. Carbray [CRD: 4565811, Northampton, Massachusetts], based on public information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Carbray has worked for Kestra Investment Services LLC since July 21, 2006, and Kestra Advisory Services LLC since April 19, 2016. Continue reading to learn more about Carbray’s […]
Investors apparently complained about securities broker Juan Pablo Benavides [CRD: 4288007, Miami, Florida], given the public information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Benavides has worked for Merrill Lynch as a securities broker since November 22, 2000, and as a financial advisor since March 15, 2004. See below to find out more about […]
Investors potentially incurred losses because of securities broker Sandy Meyer Leff [CRD: 1796695, Atlanta, Georgia], according to information disclosed through Financial Industry Regulatory Authority (FINRA) BrokerCheck. Leff has worked for Carter Terry Company Inc. as a securities broker since October 6, 2016, and as a financial advisor since October 21, 2016. Keep reading to discover […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com