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The Silver Law Group Files FINRA Arbitration Claim Against UBS Financial Services of Puerto Rico on Behalf of Retired Couple in Puerto Rico

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SAN JUAN, Puerto Rico, Feb. 11, 2014 (GLOBE NEWSWIRE) -- The Silver Law Group announces the recent filing of a securities arbitration claim with Financial Regulatory Industry Authority (FINRA) (Case No. 14-00036) against UBS Financial Services and UBS Financial Services of Puerto Rico ("UBS") located at the Ponce, Puerto Rico branch office. The FINRA arbitration claim filed on behalf of retired couple is for damages in excess of $630,000. According to the FINRA securities arbitration claim, UBS recommended that the septuagenarian retired couple concentrate the vast majority of their retirement savings into UBS proprietary closed-end bond funds, managed or co-managed by UBS, and municipal bonds. Additionally, the arbitration claim alleges that UBS recommended the use of the UBS Puerto Rico Bond Funds as collateral for UBS Bank Loans. The UBS proprietary closed-end funds used as collateral included:

According to Scott L. Silver, Managing Partner of the Silver Law Group, "UBS Asset Managers had the ability to leverage the investments made in the UBS bond mutual fund portfolios up to 50% of the value of the underlying portfolio geographically concentrated in Puerto Rico bonds which assumed considerably more risk than my clients understood. To add to this risk, the retired couple was advised to collateralize their investment accounts for UBS Bank Loans." Mr. Silver explains further, "When the Puerto Rico Municipal market declined, the portfolio suffered precipitous declines in 2013."

Silver Law Group is conducting current investigations of UBS Financial Services of Puerto Rico and its representatives located at the San Juan, Ponce, Hato Rey, Guaynabo and Mayaguez branch offices for violations of FINRA rules and regulations. These sales practice regulations require adherence to the securities industry standards of care designed to protect the investing public. UBS is required to provide, and investors should be able to reasonably rely upon UBS financial advisors for competent, suitable investment advice for securities held in their brokerage accounts. UBS is required to supervise the activities in customer accounts and losses may be attributed to the failure to supervise their financial advisors. Investors may be able to recover their losses from UBS in a securities arbitration claim filed with FINRA for negligence and/or unsuitable investment advice.

The Silver Law Group has Martindale Hubbell "AV" Preeminent Peer Review™ rated lawyers committed to the advocacy of investor rights for Puerto Rico investors who suffered UBS Bond Fund Losses. If you are interested in learning more about our investigation or your legal rights, you are encouraged to contact our law firm for a free consultation. Our attorneys have significant experience representing investors in FINRA arbitration claims and are working closely with Puerto Rico counsel. If you have questions about your legal rights, or have been the victim of investment fraud, please contact us Toll Free at (855) 755-4799 for a free consultation.

Destination URL http://www.ubsbondfundlosses.com/press-releases/retired-couple-files-finra-arbitration-against-ubs-puerto-rico.html

CONTACT: Scott L. Silver, Esquire Silver Law Group 11780 W. Sample Road Coral Springs, Florida 33065 (855)755-4799 ssilver@silverlaw.com

Source:Silver Law Group

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