☰

Empresas y finanzas

Exclusive: UBS tells brokers to keep selling risky Puerto Rico funds


    (Reuters) - UBS AG is sticking with its recommendations that some clients buy risky Puerto Rico closed-end bond funds, despite hundreds of arbitration claims by investors who blame the securities for huge losses, according to an internal document.

    UBS (UBSN.CH)told brokers that they may continue to recommend the funds to clients following a $5.2 million settlement last week with Puerto Rico's financial institutions regulator about sales practices involving the funds, according to an Oct. 9 internal memo reviewed by Reuters.

    (Reporting by Suzanne Barlyn; Editing by James Dalgleish)