UBS Puerto Rico Investment Losses & Recovery Options

UBS Financial Services was fined $750,000 by the Financial Industry Regulatory Authority (FINRA) over the misclassification of municipal bond interest payments. FINRA claimed that UBS paid out $1,165,000 in tax-free interest to 4,371 clients who held municipal bonds from July 2009 through December 2013. But UBS was actually short on the bonds, so the interest came from them directly and was taxable as ordinary income. The bank “agreed in principal with the IRS to make a payment to relieve its customers of the burden of filing amended tax returns and paying additional federal income tax.” If you invested money with UBS, you may be able to recover some of that money by suing them in the FINRA arbitration process. Please call our securities law offices based in Chicago, Illinois at 312-332-4200. The call is free with no obligation.

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.

Tags: FINRA, IRS, UBS