An arbitration panel awarded customers of UBS Wealth Management in Puerto Rico more than $4.8 million in their lawsuit against the brokerage firm, according to law firm Shepherd, Smith, Edwards & Kantas. The firm has filed and continue to pursue lawsuits against the brokerage firms and its brokers that were “involved in selling these toxic […]
UBS has been ordered to pay tens of millions of dollars in various arbitration claims to date, including awards of approximately $9 million, $15 million, $18 million, and now $19 million.
UBS Financial Services Inc. and UBS Financial Services Inc. of Puerto Rico were slammed with an $18 million arbitration verdict by the Financial Industry Regulatory Authority released Monday, legal firm Sonn and Erez PLC confirmed in a statement.
UBS Financial Services Inc. will be closing its Guaynabo branch and consolidating the operation with its Hato Rey headquarters effective Feb. 20, the company announced Wednesday.
UBS Puerto Rico is cutting 40 out of 100 positions as part of a restructuring announced earlier this year that could also entail closing at least two of its five local offices. The layoffs are effective immediately.
UBS Puerto Rico has been restructured into two separate divisions and its top management has been reshuffled as part of changes that include the exit of long-time chairman Miguel Ferrer, who will leave his post July 31, a high-ranking executive said Thursday.
As part of its commitment to educating clients and provide advice beyond investing, UBS Financial Services Inc. of Puerto Rico recently held its most recent “Speaker Series” workshop, featuring high-ranking company officials who shared their insight on financial issues that are locally relevant.
Three of the largest securities litigation law firms in the mainland U.S. — Bernstein Litowitz Berger & Grossmann LLP; Grant & Eisenhofer P.A.; and Kessler Topaz Meltzer & Check LLP — have joined forces with renown local lawyer, Andrés W. López, to discuss investors’ options and remedies for losses suffered from investments in UBS-offered Puerto […]
The Office of the Financial Institutions Commissioner announced it has entered into an agreement with Utah-based UBS Bank USA through which the latter will transfer a securities-backed loan portfolio worth $562 million to UBS Financial Services Inc. of Puerto Rico.
UBS Financial Services Inc. of Puerto Rico recently held a breakfast meeting with Puerto Rico credit union clients to discuss the island’s financial outlook for 2014.
A day after the Securities and Exchange Commission absolved two of its top Puerto Rico financial advisors of charges of misleading or defrauding customers, UBS Financial Services looked to clear the air with its client base through an extensive letter in which it addressed a number of public allegations regarding its recent business practices.
The UBS Puerto Rico Family of Funds' Board of Directors has appointed recognized economist José J. Villamil as an independent director.
UBS Puerto Rico executives announced Wednesday the creation of the U.S. Municipal & Income Fund Inc., an additional investment alternative to its existing portfolio of funds.
Government Development Bank of Puerto Rico President Juan Carlos Batlle recently addressed a group of UBS clients on the outlook for the island’s credit as part of the company’s “UBS Speaker Series” cycle that began earlier this year.
Transparency and free-flowing information on the government’s behalf are crucial to keeping the island’s standing in the U.S. credit market, which is keeping close tabs on what is being done locally, several representatives of the investment community said Thursday during the first day of the Puerto Rico Credit Conference in San Juan.
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