The arbitrators, as is typical, did not provide reasons for their decision. A Financial Industry Regulatory Authority ( FINRA ) arbitration panel in San Juan has ordered UBS to pay an investor $ 1.45 billion for losses incurred by its Puerto Rico closed - end bond funds after finding other UBS units liable in a case that involved securities fraud , misrepresentation and other misdeeds . As we have previously noted , UBS is already defending itself against hundreds of customer complaints and arbitration claims , collectively seeking $ 1.5bn in compensation from assets that have lost much of their value due to fears over the size of Puerto Rico 's debt burden and the weakness of the economy .
A Financial Industry Regulatory Authority ( FINRA ) arbitration panel in San Juan has ordered UBS to pay an investor $ 1.45 billion for losses incurred by its Puerto Rico closed - end bond funds after finding other UBS units liable in a case that involved securities fraud , misrepresentation and other misdeeds . As we have previously noted , UBS is already defending itself against hundreds of customer complaints and arbitration claims , collectively seeking $ 1.5bn in compensation from assets that have lost much of their value due to fears over the size of Puerto Rico 's debt burden and the weakness of the economy .