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Silver Law Group Continues to Pursue Securities Arbitration Claims Against UBS Puerto Rico for Investment Losses in UBS Proprietary Closed-End Bond Funds

BOCA RATON, Fla., May 13, 2015 (GLOBE NEWSWIRE) -- Silver Law Group (www.silverlaw.com) represents many investors in arbitrations against UBS Financial Services, Inc. and UBS Financial Services, Inc. of Puerto Rico (“UBS”) involving the sale of UBS Puerto Rico closed-end bond funds (the “Bond Funds”). According to several news stories, UBS’ alleged misconduct has led to regulatory investigations by the SEC, FINRA and the Office of the Commissioner of Financial Institutions of Puerto Rico (OCFI). According to reports, UBS is now the subject of several hundred FINRA arbitration claims for losses in the Bond Funds. FINRA CRD records reflect UBS has settled many cases and, at least one FINRA Panel has awarded an investor damages for losses in the Funds.

UBS recently reached a settlement with OCFI which requires UBS to pay $1,681,742 to only 34 customers identified by OCFI that suffered losses and a fine of $3,500,000 to OCFI. OCFI recognizes on its website that these 34 individuals were merely a sample selection of customers and that it will not pursue the claims on behalf of all investors that may have lost their money as a result of UBS’ misconduct. The OCFI acknowledges that UBS has stipulated in its customer agreement that any claim may be submitted to arbitration through FINRA.

Silver Law Group is representing investors in FINRA arbitration claims against UBS and other brokerage firms. These aggrieved investors lost substantial portions of their portfolios when the Bond Funds collapsed in value causing many to lose retirement funds and other damages. According to the Prospectus and Offering documents for the Bond Funds, UBS and its financial advisors characterized the Bond Funds’ investment objective as current income consistent with the preservation of capital. UBS and its financial advisors recommended that Puerto Rican residents maintain concentrated positions in their family of proprietary Bond Funds.

Silver Law Group is helping many investors try to recover their losses and we are working closely with many Puerto Rico based lawyers and accountants with clients who have suffered losses but do not understand the FINRA arbitration process. If you have questions about your legal rights, or have been the victim of investment fraud, please contact Scott Silver or Adolfo Anzola of the Silver Law Group for a free consultation at ssilver@silverlaw.com or Toll Free at (800) 975-4345. Our lawyers speak English and Spanish. Silver Law Group represents institutional and retail investors in claims for securities and investment fraud. We maintain a website, www.ubsbondfundlosses.com, to provide investors with additional information specific to investors in Puerto Rico bond funds.

Contact:
Scott L. Silver, Esq.
Silver Law Group
11780 W. Sample Road
Coral Springs, Florida 33065
Toll Free: (800) 975-4345
ssilver@silverlaw.com

For more information on recovering investment losses on a contingency fee basis, please visit www.silverlaw.com.


Source:Silver Law Group