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UBS Puerto Rico Fixed Income Fund

Puerto Rico Investors May Recover Losses Sustained in UBS Puerto Rico Fixed Income Funds

There may be hope for investors to recover their losses who were advised by UBS Financial Services of Puerto Rico to invest in UBS Puerto Fixed Income Funds. UBS Financial Services of Puerto Rico is obligated to avoid any misrepresentations or omissions of materials facts concerning investment recommendations. As the syndication underwriter for the UBS Puerto Rico Fixed Income Funds, UBS is required to give unbiased, accurate information and refrain from providingunsuitable investment advice. UBS Financial Services of Puerto Rico is required to supervise the activities of its financial advisors and investment losses that are the result of unsuitable investment recommendations can be attributed to the failure to supervise its financial advisors.

UBS Financial Services of Puerto Rico, as underwriter, is required to conduct adequate due diligence to determine the accuracy of information provided by the Prospectus and Offering documents, including the risks associated with leverage and the ability manage and hedge these risks. UBS Financial Services of Puerto Rico failed to disclose excessive markups and markdowns charged for the management of the proprietary closed-end funds which was the result of conflicts of interest between UBS, third-parties and Puerto Rico investors.

UBS Financial Services of Puerto Rico reported the Net Asset Values for the following closed-end funds managed solely by UBS Asset Managers as of February 19, 2014:

  • Puerto Rico Fixed Income Fund, Inc. ($3.156)
  • Puerto Rico Fixed Income Fund II, Inc. ($3.713)
  • Puerto Rico Fixed Income Fund III, Inc. ($3.611)
  • Puerto Rico Fixed Income Fund IV, Inc. ($4.639)
  • Puerto Rico Fixed Income Fund V, Inc. ($3.975)
  • Puerto Rico Fixed Income Fund VI, Inc. ($4.947)
  • Tax Free Puerto Rico Fund, Inc. ($4.843)
  • Tax Free Puerto Rico Fund II, Inc. ($4.215)

Why Pursue a FINRA Securities Arbitration Claim?

According to FINRA, unsuitable investment advice, securities concentration, failure to supervise the activities of financial advisors, and fraudulent misrepresentations and omissions of material facts are among the claims that are available to investors against UBS Financial Services of Puerto Rico and their financial advisors in an individual securities arbitration claim filed with FINRA. Investors also may pursue claims for violations of the Puerto Rico Uniform Securities Act by UBS Financial Services of Puerto Rico.