ANITA M BRENNAN is currently employed as a Broker and/or Investment Adviser at UBS FINANCIAL SERVICES INCORPORATED OF PUERTO RICO located at 250 MUNOZ RIVERA AVENUE, SAN JUAN, PR, 00918.
ANITA M BRENNAN has worked at UBS FINANCIAL SERVICES INCORPORATED OF PUERTO RICO since April 18, 2000
Disclosure History
ANITA M BRENNAN has 7 Disclosure Event(s).
Date: February 14, 2018 Category: Customer Dispute Allegations: Time frame: Unspecified. Claimant alleges her investments in Puerto Rico closed-end funds andgovernment bonds were unsuitable, over-concentrated, and misrepresented as safe investments. Damage Amount Requested: $415,000.00
Date: July 28, 2016 Category: Customer Dispute Allegations: Claimants allege misrepresentations, unsuitability and over concentration concerning their investments in closed-end funds. Time frame: unspecified. Damage Amount Requested: $500,000.00 Broker Comment: In addition to my stating that this case contained inaccurate information, on 8/25/2016, Plaintiffs' Counsel filed an amended Statement of Claim in which my name was removed as being involved in any of the sales practice allegations. I will seek to have this case official removed from my record once this case reaches resolution.
Date: July 05, 2016 Category: Customer Dispute Allegations: Claimants allege misrepresentations, unsuitability, and over concentration concerning their investments in closed-end funds and Puerto Rico municipal bonds. Time frame: unspecified. Damage Amount Requested: $2,038,356.66 Broker Comment: I deny all allegations as stated by Plaintiffs' Counsel. The principal client maintained a 25 plus year relationship with the financial advisors. The client was completely aware of the characteristics of the investments held in the various portfolios. We met regularly, some times more than once a month in person. We carried out a full service wealth management approach, supported by consulting services. The clients were aware and approved all transactions up until the time we serviced the accounts, more or less 2012. The investment recommendations we made during that period, were suitable based on the client's investment objectives, risk, income needs and tax consideration. We always acted in the best interest of the clients. The client decided to terminate our relationship for personal and family reasons beyond our control. We are not responsible for purchases made or lack of rebalancing during the Puerto Rico crisis after the client left.
Date: April 19, 2016 Category: Customer Dispute Allegations: Time frame: unspecified. Claimants allege misrepresentations, unsuitability, and over concentration concerning their investments in closed-end funds and Puerto Rico municipal bonds. Damage Amount Requested: $773,506.47 Broker Comment: I deny all allegations as stated by Plaintiffs' Counsel. This client opened his account around 1996, making his first purchase of the Puerto Rico CEFs with another broker. (I did not begin my employment with UBS until 2000 so the client had been investing in CEFs before I was even an employee of the Firm). The client continued to purchase Puerto Rican investments in subsequent years through the original broker. I had no control over nor offered any advice or recommendations regarding these additional purchases. I inherited the client relationship in late 2012, in name only, as a junior member of our team was the main contact for this client. She remained the primary point person on the client's account until which time, I reassigned the account. I want to be very clear, I absolutely never made any recommendations nor advised the client to buy any CEFs or Puerto Rican investments. I furthermore never advised this client to hold on to his investments as I was not the primary contact. I have been incorrectly included in this statement of claim. The allegations made against me are false and factually inaccurate and I will seek all remedies afforded to clear my name.
Date: December 18, 2015 Category: Customer Dispute Allegations: Claimants allege misrepresentations, unsuitability, and over concentration concerning their investments in Puerto Rico municipal bonds and closed-end funds. Time frame: 2014-2015. Damage Amount Requested: $2,037,894.03 Broker Comment: This client and their accounts were inherited after the purchase of the CEFs has already taken place. All claims and allegations relate to the prior financial advisor and not from any recommendations made by myself. I deny all the allegations as they are factually inaccurate. Furthermore, Plaintiffs Counsel sent an email dated January 22, 2016 to FINRA, advising that they had made a mistake and that I was not involved in the alleged activity and was filing an amended Statement of Claim removing me from the case.
Date: October 14, 2015 Category: Customer Dispute Allegations: Time frame? Not StatedClaimant alleges unsuitability, overconcentration, and misrepresentations involving the recommendation of a Puerto Rico closed-end funds. Damage Amount Requested: $795,000.00
Date: September 10, 2015 Category: Customer Dispute Allegations: Claimant alleges her investments in Puerto Rican closed-end bond funds and Puerto Rican bonds were unsuitable, overconcentrated and misrepresented as safe investments. Time Frame: July through December 2013. Damage Amount Requested: $260,000.00 Settlement Amount: $150,000.00 Broker Comment: I was not the FA involved in the purchase of any Puerto Rico fixed income investments not was I ever associated with the person making the allegations. I never recommended or solicited the purchase of any product nor did I recommend diversification - as I have done with any client I inherited or serviced. This person was never my client and I never spoke to her. The allegations are totally false and untrue and the FIRM settled this matter solely as a business decision to avoid the costs associated with arbitration.
More Information
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A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
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