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June 30, 2015 7:03 AM ET

Capital Markets

Company Overview of UBS Financial Services Incorporated of Puerto Rico

Company Overview

UBS Financial Services Incorporated of Puerto Rico is a financial services firm that offers underwriting services. The firm is based in San Juan, Puerto Rico. UBS Financial Services Incorporated of Puerto Rico operates as a subsidiary of UBS Financial Services Inc.

250 Munoz Rivera Avenue - Penthouse

Hato Rey

San Juan, PR 00918

United States

Phone:

787-250-3681

Key Executives for UBS Financial Services Incorporated of Puerto Rico

Compensation as of Fiscal Year 2014.

UBS Financial Services Incorporated of Puerto Rico Key Developments

UBS to Lay Off Employees in Puerto Rico

UBS AG plans to lay off about 40 employees at its Hato Rey, Puerto Rican unit UBS Financial Services Inc. of Puerto Rico as part of a restructuring plan. The layoffs are expected to mainly impact financial advisory and support staff citing a lack of performance.

The Securities Arbitration Law Firm of Klayman & Toskes, P.A. and Carlo Law Offices, P.S.C. File Claim Against UBS Financial Services Incorporated of Puerto Rico and UBS Financial Services

The Securities Arbitration Law Firm of Klayman & Toskes, P.A. together with Carlo Law Offices, P.S.C. announced that they filed a claim against UBS Financial Services Incorporated of Puerto Rico and UBS Financial Services Inc. on behalf of two retirees. The claim seeks to recover $1.5 million in damages sustained as a result of investing in UBS Puerto Rico Closed End Bond Funds (UBS PR CEBFs), including Puerto Rico Investors Tax Free Fund III, Puerto Rico AAA Portfolio Bond Fund and Puerto Rico Investors Bond Fund. According to the claim, the claimants, who are in their 70s, are unsophisticated investors who invested their hard earned life savings with UBS to devise a portfolio that would provide for their retirement years. After retiring, the claimants looked to UBS to devise a retirement portfolio to provide them with income and financial security. UBS recommended that they take out a loan through UBS Bank USA and use their securities account at UBS as collateral. Claimants followed this recommendation and the recommendation by UBS to purchase its proprietary UBS PR CEBFs that were concentrated in Puerto Rico Government Bonds (PRGBs), as well as individual PRGBs. With the securities account serving as collateral, the claimants wanted a low risk portfolio that would provide income. However, unbeknownst to claimants, their accounts with UBS incorporated a high degree of risk. They were exposed to concentration, leverage, and lack of liquidity. Had this information and the true nature of the risks of these investments been revealed to and known by claimants, or properly disclosed, they absolutely would not have invested their savings in these products.

The Securities Arbitration Law Firm of Klayman & Toskes and Carlo Law Offices File $2 Million Claim Against UBS Financial Services Incorporated of Puerto Rico and UBS Financial Services Inc. on Behalf of Non-Profit Organization to Recover Losses Sustained in Puerto Rico Closed-End Bond Funds

The Securities Arbitration Law Firm of Klayman & Toskes, P.A. together with Carlo Law Offices, P.S.C. announced that they filed a claim against UBS Financial Services Incorporated of Puerto Rico and UBS Financial Services Inc. on behalf of a non-profit organization based in Puerto Rico. The claim seeks to recover $2 million in damages sustained as a result of investing in UBS Puerto Rico Closed End Bond Funds: Puerto Rico Fixed Income Fund and Puerto Rico Fixed Income Fund IV. According to the Claim, the non-profit organization that was created with the purpose of protecting certain employees, and improving their work conditions as well as their social and financial interests, opened an account with UBS to utilize the firm's expertise to recommend a safe, low risk investment that the Claimant could invest its savings into for the benefit of its members. The Claimant could not risk subjecting the savings designed to protect its members to high risk investments. Knowing this objective, UBS solicited the Claimant to invest in its proprietary PR CEBFs. UBS promoted and sold the UBS PR CEBFs with the stated investment objectives of current income with preservation of capital. However, these funds were too risky to maintain these objectives. UBS failed to disclose to the Claimant the danger associated with the UBS PR CEBFs in that they are leveraged, lack diversification, lacked liquidity, and trade on a secondary market that is controlled and operated by UBS. Moreover, the Claimant received no benefit from the tax free funds as they are an exempt, non-profit organization. Trusting UBS, the Claimant invested over $2 million into two of the UBS PR CEBFs. By trusting UBS and its financial advisor, the Claimant's savings has been severely affected and is still compromised.

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