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Exclusive - Recording shows how UBS drove reluctant brokers to sell high-risk Puerto Rico funds

Feb 07, 2015    

REUTERS - In April 2011, two years before their prices sank, a slew of bond funds that were being sold by UBSs Puerto Rico arm appeared to its brokers to be such risky investments that they balked at promoting them to their clients. Their misgivings became so great that when a group of brokers was asked by the firm why they werent selling more of the funds shares they came up with a list of 22 reasons, according to people familiar with the matter. The concerns, which the brokers said were based on their own views and feedback from clients, included allegations the funds suffered from low liqui...

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