{"id":4824,"date":"2017-12-22T14:03:24","date_gmt":"2017-12-22T20:03:24","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4759"},"modified":"2022-04-03T15:57:05","modified_gmt":"2022-04-03T20:57:05","slug":"ubs-not-fully-disclose-risks-involved-puerto-rico-bond-funds-investors-brokers-reports-cnbc","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/ubs-not-fully-disclose-risks-involved-puerto-rico-bond-funds-investors-brokers-reports-cnbc\/","title":{"rendered":"UBS Did Not Fully Disclose the Risks Involved in Puerto Rico Bond Funds to Investors and Brokers, Reports CNBC"},"content":{"rendered":"

According to a recent CNBC<\/em> investigation, not only did UBS Puerto Rico (UBS-PR) fail to disclose to investors the risks involved in the bond funds UBS pushed on the island\u2019s residents, but also the brokerage firm neglected to fully apprise its own brokers of the incredible risks. While these findings are not new, the CNBC<\/em> probe digs deeper into the matter.<\/p>\n

The majority of these investors were island locals, who have now also been further devastated as a result of Hurricane Maria. Already, UBS has come under fire and paid hundreds of millions of dollars in securities settlements and awards from FINRA arbitration panels over losses investors sustained when these investments failed dramatically more than four years ago. UBS also has settled with regulators, including the U.S. Securities and Exchange Commission and FINRA, and paid over $60 million for its wrongful conduct and abuse of investors. The firm did not, however, deny or admit to wrongdoing.<\/p>\n

UBS Executives Purportedly Knew Puerto Rico Bonds Would Fail<\/strong>
\n CNBC\u2019s <\/em>investigative team obtained approximately \u201c2,000 pages of confidential documents\u201d that display conversations and the \u201cinner workings\u201d between UBS executives in Puerto Rico and the U.S. mainland prior to the funds\u2019 collapse. According to the documents, as far back as a year before the Puerto Rico funds failed, UBS management already knew that problems were brewing and they discussed what could happen if the firm did not deal with these issues immediately.<\/p>\n

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

According to a recent CNBC investigation, not only did UBS Puerto Rico (UBS-PR) fail to disclose to investors the risks involved in the bond funds UBS pushed on the island\u2019s residents, but also the brokerage firm neglected to fully apprise its own brokers of the incredible risks. While these findings are not new, the CNBC […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3922,4039,3755],"tags":[],"class_list":["post-4824","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-municipal-bonds","category-puerto-rico-bond-funds","category-ubs"],"yoast_head":"\nUBS Did Not Fully Disclose the Risks Involved in Puerto Rico Bond Funds to Investors and Brokers, Reports CNBC — Investor Lawyers Blog — December 22, 2017<\/title>\n<meta name=\"description\" content=\"According to a recent CNBC investigation, not only did UBS Puerto Rico (UBS-PR) fail to disclose to investors the risks involved in the bond funds UBS — December 22, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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