Monday, December 28, 2015

$800,000 Chipi v UBS of Puerto Rico Award

In December 2015, a FINRA arbitration panel in San Juan, PR ordered UBS Financial Services and UBS Financial Services of Puerto Rico to pay $800,000 in compensatory damages, interest, attorneys’ fees and expert costs after finding UBS liable for various claims including breach of contract, breach of a broker’s duty to supervise, negligent and intentional misrepresentation, fraud and deceit and violations of FINRA’s Rules of fair practice over UBS Puerto Rico's sale of UBS Puerto Rico municipal bond closed end funds. You can read the award here. Dr. McCann testified on liability and damages.

No comments:

Post a Comment

Please keep comments appropriate. Malicious comments or solicitations will be removed.