According to BrokerCheck records financial advisor Mark Augusta (Augusta), currently employed by Hilltop Securities, Inc. (Hilltop Securities) has been subject to at least an astonishing 19 customer complaints and one employment termination for cause. According to records kept by The Financial Industry Regulatory Authority (FINRA), Augusta’s customer complaints allege that…
The securities attorneys at Gana Weinstein LLP are currently investigating previously registered broker Mariondy Fernandez (Fernandez). According to BrokerCheck Records held by the Financial Industry Regulatory Authority (FINRA), Fernandez has been subject to 19 customer disputes, 10 of which are still pending. The majority of these disputes concern violations of…
The law offices of Gana Weinstein LLP continue to report on investor related losses and potential legal remedies due to recommendations to invest in Puerto Rico bonds and bond funds. The island has been meeting with creditors before a U.S. bankruptcy judge in the largest public finance restructuring case. The…
Our securities fraud attorneys are investigating customer complaints filed with The Financial Industry Regulatory Authority (FINRA) against Samuel Koltun (Koltun) currently associated with RBC Capital Markets, LLC (RBC) alleging unsuitable investments in Puerto Rico municipal bonds among other claims. According to brokercheck records Koltun has been subject to six customer…
This is the second regulatory action that our firm has tracked concerning brokerage firms recommending concentrated positions in Puerto Rico bond funds without having appropriate supervisory system and procedures designed to identify and review concentrated securities purchases in Puerto Rico closed-end funds. As we reported, The Financial Industry Regulatory Authority…
As our firm has written about on numerous occasions, our firm is currently representing investors who purchased the UBS Puerto Rico closed-end-bond funds and other Puerto Rico municipal debt. The allegations our firm has brought on behalf of clients focuses on UBS’ sales tactics and recommendations to its customers to…
Albert Einstein once defined insanity as “doing the same thing over and over again and expecting different results.” While UBS does not challenge Einstein’s theories in physics it does challenge his thoughts on insanity. According to several news sources, including Financial Advisor Magazine and Reuters, UBS has told its brokers…
On October 9, 2014, Puerto Rico’s Office of the Commissioner of Financial Institutions (OCFI) has settled its claims with UBS Financial Services Incorporated of Puerto Rico (UBS Puerto Rico) over UBS’s sale of closed-end mutual funds in Puerto Rico. The OCFI conducted a routine examination from October 15, 2013 through…
The law offices of Gana Weinstein LLP has recently filed securities arbitration case on behalf of an investor against UBS Financial Services, Inc. and UBS Financial Services, Inc. of Puerto Rico (UBS) involving allegations that UBS’ misleading sales tactics and inappropriate recommendations surrounding Puerto Rico bonds in the Claimant’s portfolio.…
On Monday, April 14, 2014, the Financial Industry Regulatory Authority (FINRA) announced that it would lift the hold that it had put on some cases related to the collapse of Puerto Rico Bond Funds. FINRA has been able to expand its pool of arbitrators that will be available to hear…