A FINRA arbitration panel issued an award of damages to Greco & Greco clients against UBS of Puerto Rico on February 23, 2018. The arbitration involved multiple Puerto Rico customers of UBS who had been invested primarily in UBS Puerto Rico Closed-End Mutual Funds and Puerto Rico Bonds. The award,…
In this FINRA Arbitration held in Jackson, Mississippi, Greco & Greco represented a retiree who was cold-called by a New York broker. The broker’s investments ultimately lost a significant amount of the client’s savings in several overconcentrated stock positions. The FINRA panel awarded $80,000 in damages, $15,000 in punitive damages…
In this case taken pro bonoby Greco & Greco, the FINRA arbitrator awarded the full amount of compensatory damages and interest requested based on claims of negligence, breach of fiduciary duty, and unsuitable recommendations. The arbitrator found that the brokerage firm “failed to recommend suitable investments based on [Claimant’s] request,…
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…