Puerto Rico Bonds FAQ
FAQs about UBS Puerto Rico Fund Cases
The attorneys at Zamansky LLC have decades of experience representing investors in securities and investment fraud cases. Currently, we are actively investigating financial losses that resulted from UBS Puerto Rico funds that were sold to investors as safe and low-risk investments. We understand that investors may have many questions about the Puerto Rico bonds cases and investment fraud in general. Below we have compiled a list of several Frequently Asked Questions (FAQs) to help assist investors.
Puerto Rico Bonds – FAQs
1- How can investors tell if they have been a victim of investment fraud?
Unless an investor is highly sophisticated, it is almost impossible to tell whether the investments recommended by a financial advisor were appropriate. Financial advisors and their firms have a legal duty to manage an investor’s assets according to the investor’s tolerance for risk and specific investment goals. They also have a duty to act with the investor’s best interests in mind. If they fail to do so, they can be held liable for financial losses. Investment fraud can occur when a financial advisor encourages an investor to invest in a highly volatile or risky venture that diminishes the investor’s savings. Fraud may also take place when an advisor acts without the investor’s knowledge or provides the investor with false, misleading or inaccurate information.
If you have lost money from investments involving Puerto Rico bonds, you should consult a knowledgeable professional, such as an investment fraud attorney at Zamansky LLC, to review your investments in order to determine whether your advisor may have engaged in fraud or misconduct.
2- Can Zamansky LLC handle my Puerto Rico bonds fraud case?
Zamansky LLC represents all types of investors across the United States and abroad, ranging from small individual investors to sophisticated high-net worth individuals and institutions. Our firm has teamed with Maria Elsie López Adames, an experienced investment fraud attorney, to help the hundreds of investors who have lost money from investments involving UBS Puerto Rico funds. These cases will be resolved through the Financial Industry Regulatory Authority (FINRA) arbitration process, rather than federal or state court, meaning that our law firm is permitted to provide legal representation to investors in Puerto Rico and across the globe.
3- What is FINRA?
The Financial Industry Regulatory Authority (FINRA) is the largest independent regulator for securities firms doing business in the United States. FINRA was formed in 2007 by the consolidation of the member regulation, enforcement and arbitration operations of the New York Stock Exchange (NYSE), NYSE Regulation, Inc., and the National Association of Securities Dealers (NASD). FINRA operates the largest dispute resolution forum in the securities industry and is dedicated to protecting investors and market integrity by making sure that the securities industry operates fairly and honestly.
4- How does the FINRA arbitration process work?
In general, arbitration is an alternative method to litigation to resolve a dispute between two or more parties. Almost all disputes involving an account with an investment advisor or brokerage firm are required to proceed through FINRA arbitration. In most instances, the FINRA arbitration process takes a little more than a year to complete.
In FINRA arbitration the “claimant,” who has been harmed by the misconduct of an investment firm, works with an investment fraud attorney to prepare and file a “Statement of Claim.” A Statement of Claim sets forth the parties’ backgrounds, the facts underlying the dispute, and the legal basis for why the investor should recover his or her losses. The “respondent” (the investment firm) then responds to the claimant’s allegations by filing an “Answer” laying out the legal arguments for why the firm is not liable for the claimant’s financial losses.
Once the arbitrators are selected by the parties and the discovery process is complete, a hearing will take place before the FINRA arbitrators. After both parties present their cases the arbitration panel will render an “award” (a final decision). The parties to the FINRA arbitration are bound by the award, unless it is successfully challenged in court.
5- What do I need to do to file a claim for investment fraud involving Puerto Rico bonds?
The first step to filing a claim is to contact an experienced securities and investment fraud attorney at our firm to help evaluate your situation. You can reach Zamansky LLC by calling (212)742-1414 or completing our online inquiry form.