The Financial Industry Regulatory Authority (FINRA) fined UBS for infractions related to risky Puerto Rican debt, an issue that exploded by orders of magnitude when the island’s debt became unsustainable.
UBS clients loaded up with risky Puerto Rican bonds, face margin calls when credit collapses
UBS AG’s Puerto Rican unit was fined $7.5 million and ordered compensate its clients to the tune of $11 million for allowing investors to borrow against risk-laden Puerto Rican...
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