Reuters UBS AG VX: Reuters UBS AG VX 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, according to Euro News. However, brokers should continue to evaluate investment recommendations in a manner consistent with UBS policies and rules, the firm said in the four-page memo, written in a question and answer format. the Financial Industry Regulatory Authority is Wall Streets industry-funded watchdog and By Suzanne Barlyn UBS told brokers that they may continue to recommend the funds to clients following a $5.2 million settlement last week with Puerto Ricos financial institutions regulator about sales practices involving the funds, according to an Oct. 9 internal memo reviewed by Reuters.
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