UBS Former Brokers File FINRA Claim

According to reports, many UBS registered stockbrokers have been laid off, due to the fallout related to UBS’s Puerto Rican closed-end bond funds. Seven brokers who were laid off by UBS filed a $25 million arbitration claim with the Financial Industry Regulatory Authority (FINRA) on Friday. The registered representatives claim that UBS misled its brokers and customers about the UBS Puerto Rican closed-end bond funds. They also claim that UBS allegedly made material misstatements and omissions about the funds. The brokers then claimed they were threatened, lied to and pressured by the firm to sell the Puerto Rican products, or face termination. If you lost money in Puerto Rican closed-end bond funds, you may be able to recover those losses in the FINRA arbitration forum. Please call our Chicago-based securities law firm to find out how you can bring claims against UBS. The call is free with no obligation. We represent dozens of clients who suffered losses with UBS’ Puerto Rican closed-end bond funds.

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