Puerto Rican residents who invested in Puerto Rico Conservation Trust Fund notes may be able to recover their investment losses. Brokerage firms, such as UBS Financial Services, Inc. of Puerto Rico, Santander Securities, and Popular Securities, sold these notes as safe and secure investments. But the tax-free notes were secured solely by securities issued by R&G Financial Corporation, a Puerto Rican financial institution. Investors in the Puerto Rico Conservation Trust Fund lost their money when R&G Financial failed
Brokerage firms may have violated securities laws and their other legal and regulatory obligations to investors when they solicited and recommended that investors purchase the Puerto Rico Conservation Trust Fund. First, the notes were too risky for many investors. Some brokerage firms also concentrated too much of certain investors’ accounts in the Puerto Rico Rico Conservation Trust notes. Brokerage firms, including UBS and Popular Securities, appear to have failed to supervise their brokers properly to make sure that the brokers did not make unsuitable investment recommendations or sell over-concentrated positions to customers.
Puerto Rican residents, including investors from Hato Rey, Bayamón, Ponce, San Juan, Isabela, Rincón, and Mayaguez, who lost money in Puerto Rico Conservation Trust Fund Secured Notes may be able to recover their losses through FINRA arbitration. To discuss the recovery of your Puerto Rico Conservation Trust Fund investment losses, call a Spanish-speaking securities lawyer at Dimond Kaplan & Rothstein, P.A. at (888) 578-6255.
