The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) fined UBS Wealth Management for claims related to the offer and sale of the Puerto Rico bond fund. The SEC's fine totaled $15 million. The money will go into a fund for the damaged investors. The FINRA fine totaled $18.5 million, and $11 million of the fine will be paid as restitution to 165 customers.
If you believe you have been victimized by securities fraud, financial malpractice, or theft by a FINRA registered broker, please call the securities attorneys of the Costello Law Group at (877) 418-0003 for a free consultation.