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W. Scott Greco, working with local Puerto Rico co-counsel, represented multiple customers in FINRA arbitration hearings in 2019 against UBS of Puerto Rico that resulted in monetary awards to the customers.

The first, a case involving overconcentration in risky UBS Puerto Rico closed end funds, resulted in an award of $4,813,161.00 which were the principal losses from February, 2013 forward, despite UBS’s claims that the accounts had a net out of pocket profit.

The second FINRA arbitration award in 2019 involved overconcentration in a few Puerto Rico bonds, and resulted in an arbitration award of $195,000 including attorney fees, again despite UBS claims of a net out of pocket profit.