UBS Clients In Puerto Rico Have Legal Options
Many wealthy UBS clients were burned by sales practices related to the firm’s recommendation of proprietary mutual funds. UBS has five branches in Puerto Rico, with 132 brokers who manage money for the island’s elite, including local real estate magnates and wealthy foreigners. Unfortunately, some of the Puerto Rican mutual funds recommended to hundreds of UBS clients in Puerto Rico have plummeted in value. As reported in the New York Times, some advisors were even recommending leverage to magnify the returns of the funds. Since many of these funds have declined in value, investor losses are even greater than they would have been without margin or other tools to increase the leverage. Clients of UBS who wish to sue the firm must do so through the binding arbitration process administered by FINRA. Claims against the firm can include suitability claims, fraud, misrepresentations and omissions and other related claims. To learn about all legal options, including lawsuits, against UBS for losses in Puerto Rico related municipal bond funds, please call us.
The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (10 S. LaSalle, Suite 3500, CHICAGO, IL 60010, 312.332.4200). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.