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.

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