UBS Financial Services of Puerto Rico and UBS Financial Services, as member firms of the Financial Industry Regulatory Authority (FINRA) are required to resolve all customer disputes through the securities arbitration process. The FINRA forum is in place to resolve disputes between Puerto Rico investors and UBS Puerto Rico and UBS concerning the sale of their proprietary UBS Puerto Rico Family of Funds and Puerto Rico Municipal Bonds.
Colling Gilbert Wright & Carter, along with local counsel John Nevares, represent dozens of Puerto Rico residents in arbitration claims for damages against UBS Puerto Rico and UBS Financial Services, alleging, among other causes of action, misrepresentation as to the safety of the proprietary funds the firm marketed and sold. When the government bond market collapsed and the debt was lowered to "junk bond" status, in late 2012, Puerto Rico investors suffered catastrophic losses to their retirement savings.
If you have suffered losses as a result of purchasing closed-end municipal bond funds or Puerto Rico municipal bonds, please contact our office for a free consultation. If we decide to file your claim, our firm will advance all costs of filing and litigation and will only seek fees and cost reimbursement if there is a damage recovery. Thank you!