{"id":3100,"date":"2014-02-13T00:00:00","date_gmt":"2014-02-13T05:00:00","guid":{"rendered":"http:\/\/silverlaw.lawblogger.net\/blog\/bond-buyer-magazine-highlights-silver-law-groups-finra-arbitration-claims-against-ubs-for-puerto-rico-investors\/"},"modified":"2017-12-22T14:30:00","modified_gmt":"2017-12-22T19:30:00","slug":"bond-buyer-magazine-highlights-silver-law-groups-finra-arbitration-claims-against-ubs-for-puerto-rico-investors","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/bond-buyer-magazine-highlights-silver-law-groups-finra-arbitration-claims-against-ubs-for-puerto-rico-investors\/","title":{"rendered":"Bond Buyer Magazine Highlights Silver Law Group\u2019s FINRA Arbitration Claims Against UBS For Puerto Rico Investors"},"content":{"rendered":"<\/p>\n

UBS Financial Services of Puerto Rico has come under the scrutiny of a leading bond market commentator, The Bond Buyer<\/i> in yesterday\u2019s article titled, UBS Puerto Rico Faces Surge in Arbitration Claims<\/a>.\u00a0 Standard & Poor\u2019s, Moody\u2019s and Fitch\u2019s credit ratings agencies downgraded Puerto Rico\u2019s general obligation bonds to junk bond status, which is below the investment grade status given to most U.S. municipal bonds.\u00a0 The downgrade was predicted by UBS Financial Services\u2019 (UBS) recent report Municipal Brief: Puerto Rico Credit & Market Update<\/i><\/a> dated January 29, 2104.\u00a0 This prediction came long after UBS Financial Services of Puerto Rico branch offices mobilized its sales force with a targeted marketing campaign to sell the UBS Puerto Rico Family of Funds to investors.\u00a0 A market revelation that is too late for those Puerto Rico investors\u2019 whose portfolios are now heavily laden with UBS\u2019 proprietary closed-end funds geographically concentrated in Puerto Rico bonds<\/a>.<\/p>\n

As mentioned in our previous blog post, \u201cThe removal of Puerto Rico municipal bonds from the universe of \u2018investment grade\u2019 municipal bonds could potentially result in increased sell orders from municipal bond portfolio managers driving prices lower.\u201d\u00a0 Further price declines in Puerto Rico municipal bonds has already occurred and the effects for many UBS closed-end funds, including UBS Puerto Rico Fixed Income Funds<\/a> and UBS Puerto Rico Investors Tax Free Funds<\/a>, has been an average drop in many of the funds\u2019 net asset values (NAV) of another 5% since the announced credit ratings downgrades.<\/p>\n

Scott L. Silver, managing partner of Silver Law Group, has brought clarity to many Puerto Rico investors who have contacted his law firm.\u00a0 These investors have a better understanding of the Financial Industry Regulatory Authority (FINRA) securities arbitration process.\u00a0 The bond buyer reported, \u201chis firm has filed about three dozen claims for FINRA arbitration in the past several weeks.\u201d\u00a0 According to the Bond Buyer interview Mr. Silver pointed out that FINRA \u201crules require dealers to supervise the activities in customer accounts\u201d and said \u201chis clients\u2019 losses may be attributed to a failure by UBS to supervise their financial advisors.\u201d<\/span><\/p>\n

Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

UBS Financial Services of Puerto Rico has come under the scrutiny of a leading bond market commentator, The Bond Buyer in yesterday\u2019s article titled, UBS Puerto Rico Faces Surge in Arbitration Claims.\u00a0 Standard & Poor\u2019s, Moody\u2019s and Fitch\u2019s credit ratings agencies downgraded Puerto Rico\u2019s general obligation bonds to junk bond status, which is below the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[621,607,588,590,596,580,615,576],"tags":[],"class_list":["post-3100","post","type-post","status-publish","format-standard","hentry","category-credit-ratings-downgrades","category-failure-to-supervise","category-finra-arbitration","category-misrepresentation-and-omission-of-material-facts","category-securities-concentration","category-stockbroker-misconduct","category-ubs-puerto-rico-bond-funds","category-unsuitable-investment-advice"],"yoast_head":"\nBond Buyer Magazine Highlights Silver Law Group\u2019s FINRA Arbitration Claims Against UBS For Puerto Rico Investors — Securities Arbitration Lawyers Blog — February 13, 2014<\/title>\n<meta name=\"description\" content=\"UBS Financial Services of Puerto Rico has come under the scrutiny of a leading bond market commentator, The Bond Buyer in 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