By Robert H. Rex, Esq.
If you purchased some of the more than $10 billion in UBS proprietary Puerto Rico bond funds and have suffered losses as a result, you may be able to recover damages through FINRA arbitration.
The bond funds include the following:
Puerto Rico Fixed Income Fund VI, Inc
It is believed that many investors were sold these investments on margin or by other financing methods raising the issue of the suitability of such a recommendation. Puerto Rico’s contracting economy has caused many of these investments to decline in value dramatically making it difficult for investors relying on the promised distributions to meet daily living expenses.
This is not the first time UBS has had issues with the sale of Puerto Rican municipals. See this for more information.
To discuss your options for recovery of damages with an experienced securities attorney, call us at 561 391 1900.