JOSE DAVID MENDEZ PEREZ 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.
JOSE DAVID MENDEZ PEREZ has worked at UBS FINANCIAL SERVICES INCORPORATED OF PUERTO RICO since May 07, 2003
Disclosure History
JOSE DAVID MENDEZ PEREZ has 18 Disclosure Event(s).
Date: March 14, 2018 Category: Customer Dispute
Date: February 12, 2018 Category: Customer Dispute Allegations: Time frame: 2006-2013 Claimant's Counsel alleges unsuitability, misrepresentation and over concentration in Puerto Rico municipal bonds and also alleges recommendation to hold. Damage Amount Requested: $10,000,000.00
Date: October 23, 2017 Category: Customer Dispute Allegations: Timeframe: 2001-PresentClaimant alleges unsuitability in regards to the overconcentration of their account in Puerto Rico municipal bonds and an unsuitable recommendation to hold these bonds based on misleading representations regarding the bonds safety. Damage Amount Requested: $10,000,000.00
Date: September 05, 2017 Category: Customer Dispute Allegations: Allegations as stated by Claimant: Time frame: 2008- Present Claimant's Counsel alleges that the client's account was over concentrated in unsuitable CEFs and PR Bonds and the risks associated were misrepresented. Counsel further alleges there was an unsuitable hold recommendation made to retain the Puerto Rican investments as well as alleging the use of an illegal loan recycling to further purchase more securities. Damage Amount Requested: $1,800,000.00
Date: August 11, 2017 Category: Customer Dispute Allegations: Time frame: 2001- Present Claimant alleges unsuitable advice regarding overconcentration in Puerto Rico municipal bonds and a recommendation to hold these bonds during 2012 and 2013 based on allegedly misleading representations about the bonds and the Puerto Rico economy. Damage Amount Requested: $3,000,000.00
Date: May 17, 2017 Category: Customer Dispute Allegations: Time frame: 2010-2013Claimant alleges overconcentration, unsuitability and misrepresentations involving the recommendations of Puerto Rico municipal bonds. Damage Amount Requested: $100,000.00
Date: April 19, 2017 Category: Customer Dispute Allegations: Time frame: 2011-2017Claimants allege that their investments in Puerto Rican closed-end bond funds and Puerto Ricobonds were unsuitable, over concentrated and misrepresented. Damage Amount Requested: $381,299.61
Date: September 27, 2016 Category: Customer Dispute Allegations: Time frame:2010-2013One out of three unrelated Claimants alleges, through her Estate, that her FA recommended that she concentrate her account in unsuitable and risky closed end funds without diversification. She alleges damages of $80,000 out of the combined $250,000 requested by all Claimants. Damage Amount Requested: $250,000.00 Settlement Amount: $100,000.00
Date: October 14, 2015 Category: Customer Dispute Allegations: Time Frame: unspecifiedClaimants allege unsuitability, overconcentration, misrepresentations, and fraud involving the recommendation of closed-end funds PR bonds. Damage Amount Requested: $1,800,000.00 Settlement Amount: $520,000.00
Date: September 15, 2015 Category: Customer Dispute Allegations: Claimant alleges unsuitability, overconcentration, and misrepresentations involving the recommendation of Puerto Rico closed-end funds and Puerto Rico Bonds. Damage Amount Requested: $158,416.01
Date: July 08, 2015 Category: Customer Dispute Allegations: TIME FRAME - 2010 - 2015CLIENT ALLEGES SUITABILITY, OVERCONCENTRATION AND MISREPRESENTATION IN REFERENCE TO INVESTMENTS IN CLOSED END FUNDS. Damage Amount Requested: $500,000.00 Settlement Amount: $130,000.00
Date: April 09, 2015 Category: Customer Dispute Allegations: TIME FRAME - 2008 - 2015. CLIENT'S COUNSEL ALLEGES SUITABILITY AND MISREPRESENTATION IN REGARDS TO PURCHASES OF CEFS INVESTMENTS IN CLIENT'S ACCOUNTS. Damage Amount Requested: $642,367.00
Date: August 19, 2014 Category: Customer Dispute Allegations: TIME FRAME: 2009-PRESENTCLAIMANTS ALLEGE THAT RECOMMENDATIONS OF CLOSED-END FUNDS AND MUNICIPAL BONDS WERE UNSUITABLE BECAUSE THE INVESTMENTS WERE UNDULY RISKY AND FURTHER ALLEGE THAT FAS FAILED TO DISCLOSE MATERIAL INFORMATION. Damage Amount Requested: $921,270.00 Settlement Amount: $410,000.00 Broker Comment: I DISAGREE WITH THE ALLEGATIONS THE CLIENTS ARE STATING.ALL TRADES DONE DURING MY PARTICIPATION ON THE ACCOUNT, UNTIL OCTOBER 2012, WERE DISCUSSED, EXPLAINED AND APPROVED BEFORE EXECUTION BY THE CLIENTS.
Date: July 07, 2014 Category: Customer Dispute Allegations: TIME FRAME: 2011-PRESENTCLAIMANTS ALLEGE THAT FA RECOMMENDED UNSUITABLY HIGH CONCENTRATION OF CLOSED-END FUNDS AND FAILED TO DISCLOSE THE RISKS OF THE INVESTMENT. Damage Amount Requested: $200,000.00 Settlement Amount: $105,000.00
Date: June 02, 2014 Category: Customer Dispute Allegations: TIME FRAME: 2008-2011. CLAIMANT ALLEGES "EXCESSIVE TRADES" CAUSED IT TO INCUR "EXCESSIVE" FEES AND COMMISSIONS. Damage Amount Requested: $500,000.00 Settlement Amount: $115,000.00 Broker Comment: I DENY THE ALLEGATIONS AND BELIEVE THEM TO BE WITHOUT SUBSTANCE. I BROUGHT THIS CLIENT TO UBS FROM A CONTRA FIRM AND MANAGED IT UNTIL THE END OF 2009. I MAINTAINED A COMMERCIAL RELATIONSHIP WITH THE CLIENT FOR OVER 20 YEARS. THE TRADE NOW IN DISPUTE WAS DISCUSSED, EXPLAINED AND APPROVED BY THE BOARD OF DIRECTORS.I MAINTAIN THAT I SOLD THIS PRODUCT CORRECTLY AND THE CLIENT RATIFIED IT'S PURCHASE.
Date: March 14, 2014 Category: Customer Dispute Allegations: TIME FRAME: 2009-PRESENT. CLAIMANTS ALLEGE THAT FAS RECOMMENDED OVERLY-CONCENTRATED POSITIONS IN RISKY SECURITIES. Damage Amount Requested: $299,000.00 Settlement Amount: $84,500.00 Broker Comment: I DENY ALL THE ALLEGATIONS AS STATED BY THE CLAIMANT. ALL THE RISKS ASSOCIATED WITH THIS INVESTMENT WERE PROPERLY DISCLOSED TO THE CLIENT UPON THE RECOMMENDATION OF THESE INVESTMENTS.
Date: February 25, 2014 Category: Customer Dispute Allegations: TIME FRAME: 2012-PRESENTCLAIMANTS ALLEGE THAT FA MADE UNSUITABLE RECOMMENDATIONS TO PURCHASE AND THEN TO HOLD CLOSED-END FUNDS, AND MISREPRESENTED THE RISKS OF THE INVESTMENT. Damage Amount Requested: $50,000.00 Settlement Amount: $14,000.00
Date: December 27, 2013 Category: Customer Dispute Allegations: TIME FRAME: 2007-PRESENTCLAIMANT ALLEGES MISREPRESENTATIONS AND UNSUITABILITY CONERNING RECOMMENDATIONS OF CLOSED-END FUNDS. Damage Amount Requested: $10,000,000.00 Settlement Amount: $2,500,000.00 Broker Comment: I DENIED THE ALLEGATIONS SINCE ALL THE RISKS ASSOCIATED WITH THE INVESTMENT WERE PROPERLY DISCLOSED TO CLIENT FROM MY PERSON AND CONSULTING GROUP
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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