I Discucss The UBS Puerto Rico FINRA Developmenets With Reuters…

today.  The entire story, and my analysis of the developments, can be found in the link below.  FINRA has now agreed to lift the stay and proceed with the FINRA arbitration cases filed against Merrill Lynch and UBS for the closed end fund Puerto Rico cases.  FINRA disclosed it is furiously recruiting additional arbitrators to adjudicate these cases.  Unfortunately, it is still likely given the 1000 plus cases to be filed against Merrill Lynch and UBS there will be delays in the resolution of the claims and lawsuits against these firms given FINRA’s refusal to allow cases to be heard in South East FINRA hearing locations.

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