{"id":52586,"date":"2017-05-05T16:11:00","date_gmt":"2017-05-05T19:00:00","guid":{"rendered":"http:\/\/hispanicprwire.com\/english-notice-to-ubs-puerto-rico-customers-klayman-toskes-and-carlo-law-offices-file-15-million-finra-claim-against-ubs-for-concentration-in-puerto-rico-government-bonds-and-closed-end-bond\/"},"modified":"2017-05-05T16:12:01","modified_gmt":"2017-05-05T20:12:01","slug":"aviso-a-clientes-de-ubs-puerto-rico-los-bufetes-de-klayman-toskes-y-carlo-law-offices-presentan-una-reclamacion-de-arbitraje-de-finra-por-15-millones-contra-ubs-por-concentracion-en-bonos-y-f","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/aviso-a-clientes-de-ubs-puerto-rico-los-bufetes-de-klayman-toskes-y-carlo-law-offices-presentan-una-reclamacion-de-arbitraje-de-finra-por-15-millones-contra-ubs-por-concentracion-en-bonos-y-f\/","title":{"rendered":"NOTICE TO UBS PUERTO RICO CUSTOMERS: Klayman &amp; Toskes and Carlo Law Offices File $15 Million FINRA Claim Against UBS for Concentration in Puerto Rico Government Bonds and Closed-End Bond Funds in the Wake of Puerto Rico&#8217;s Bankruptcy Filing"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">SAN JUAN, Puerto Rico<\/span>, <span class=\"xn-chron\">May 5, 2017<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212;\u00a0The Securities Arbitration Law Firm of Klayman &amp; Toskes,\u00a0 P.A., \u00a0<a target=\"_blank\" href=\"http:\/\/www.sueubspuertorico.com\/\" rel=\"nofollow\">www.sueubspuertorico.com<\/a>, together with Carlo Law Offices, P.S.C. located in <span class=\"xn-location\">Puerto Rico<\/span>, announced today that they filed a FINRA claim against UBS Financial Services Incorporated of <span class=\"xn-location\">Puerto Rico<\/span> and UBS Financial Services, Inc. (NYSE: UBS) (collectively &#8220;UBS&#8221;) for <span class=\"xn-money\">$15 million<\/span>.\u00a0The claim has been filed in the wake of <span class=\"xn-location\">Puerto Rico&#8217;s<\/span> recent bankruptcy filing, which is the largest in U.S. Municipal history. According to the Claim, the Claimant entrusted his retirement assets to UBS with an investment objective of current income and capital preservation. Contrary to these objectives, UBS concentrated his account in <span class=\"xn-location\">Puerto Rico<\/span> Government Bonds (&#8220;PRGBs&#8221;) and its <a target=\"_blank\" href=\"http:\/\/sueubspuertorico.com\/ubs-puerto-rico-funds\/\" rel=\"nofollow\">proprietary Puerto Rico closed-end bond funds<\/a> (&#8220;UBS PR CEBFs&#8221;), which are leveraged with <a target=\"_blank\" href=\"http:\/\/sueubspuertorico.com\/ubs-violations\/finra-sales-practice-violations\/ubs-bank-loans\/\" rel=\"nofollow\">UBS Bank USA Loans<\/a>.\u00a0 <\/p>\n<p>UBS purchased and held for Claimant PRGBs and UBS PR CEBFs, both of which are closely tied to the performance of <span class=\"xn-location\">Puerto Rico&#8217;s<\/span> economy. The Claimant believed the purchases were consistent with his risk tolerance. However, the <a target=\"_blank\" href=\"http:\/\/sueubspuertorico.com\/ubs-violations\/finra-sales-practice-violations\/concentration-puerto-rico-bonds\/\" rel=\"nofollow\">over concentration in these PRGBs and UBS PR CEBFs<\/a> resulted in excessive risks, which were exacerbated by the use of UBS&#8217; Bank Loans. UBS <a target=\"_blank\" href=\"http:\/\/sueubspuertorico.com\/ubs-violations\/finra-sales-practice-violations\/misrepresentation-omission-material-facts\/\" rel=\"nofollow\">failed to disclose to Claimant<\/a> the risks associated with over concentrating his account in these securities.\u00a0Ultimately, the Claimant suffered losses which were precipitated by margin calls since his illiquid securities were utilized as collateral. <\/p>\n<p>The sole purpose of this release is to <a target=\"_blank\" href=\"http:\/\/sueubspuertorico.com\/ubs-violations\/current-investigations\/\" rel=\"nofollow\">investigate<\/a>, on behalf of our clients, the sales practices of UBS in connection with <a target=\"_blank\" href=\"http:\/\/sueubspuertorico.com\/ubs-violations\/finra-sales-practice-violations\/unsuitable-investment-advice\/\" rel=\"nofollow\">unsuitable investment recommendations<\/a> provided to their customers. Current and former customers of UBS who have information relating to the investment advice provided by UBS related to Puerto PRGBs and UBS PR CEBFs, are encouraged to contact <span class=\"xn-person\">Steven D. Toskes<\/span> of Klayman &amp; Toskes or <span class=\"xn-person\">Osvaldo Carlo<\/span> of Carlo Law Offices, at (787)268-6444, or visit our website: <a target=\"_blank\" href=\"http:\/\/www.sueubspuertorico.com\/\" rel=\"nofollow\">www.sueubspuertorico.com<\/a>.<\/p>\n<p><b>About Klayman &amp; Toskes, P.A.<br \/><\/b>K&amp;T is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation, on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm represents high net-worth, ultra-high-net-worth, and institutional investors, such as non-profit organizations, unions, public and multi-employer pension funds. K&amp;T has office locations in <span class=\"xn-location\">California<\/span>, <span class=\"xn-location\">Florida<\/span>, <span class=\"xn-location\">New York<\/span> and <span class=\"xn-location\">Puerto Rico<\/span>.<\/p>\n<p>Destination URL: \u00a0<a target=\"_blank\" href=\"http:\/\/nasd-law.com\/notice-to-ubs-puerto-rico-customers-klayman-toskes-and-carlo-law-offices-file-15-million-finra-claim-against-ubs-for-concentration-in-puerto-rico-government-bonds-and-closed-end-bond-funds-in-the\/\" rel=\"nofollow\">http:\/\/nasd-law.com\/notice-to-ubs-puerto-rico-customers-klayman-toskes-and-carlo-law-offices-file-15-million-finra-claim-against-ubs-for-concentration-in-puerto-rico-government-bonds-and-closed-end-bond-funds-in-the\/<\/a> <\/p>\n<p><b><u>Contact:<br \/><\/u><\/b>Klayman &amp; Toskes, PA<br \/><span class=\"xn-person\">Steven D. Toskes, Esq.<\/span> <br \/>Lcdo. <span class=\"xn-person\">Osvaldo Carlo<\/span><br \/>(787)268-6444<\/p>\n<\/div>\n<p> <\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p><span class=\"xn-location\">SAN JUAN, Puerto Rico<\/span>, <span class=\"xn-chron\">May 5, 2017<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212;\u00a0The Securities Arbitration Law Firm of Klayman &amp; Toskes,\u00a0 P.A., \u00a0<a target=\"_blank\" href=\"http:\/\/www.sueubspuertorico.com\/\" rel=\"nofollow\">www.sueubspuertorico.com<\/a>, together with Carlo Law Offices, P.S.C. located in <span class=\"xn-location\">Puerto Rico<\/span>, announced today that they filed a FINRA claim against UBS Financial Services Incorporated of <span class=\"xn-location\">Puerto Rico<\/span> and UBS Financial Services,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-52586","post","type-post","status-publish","format-standard","hentry","category-negocios-y-finanzas"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/52586","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=52586"}],"version-history":[{"count":0,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/52586\/revisions"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=52586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=52586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=52586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}