SONIA MARGARITA POU is currently employed as a Broker and/or Investment Adviser at UBS FINANCIAL SERVICES INC. located at 250 MUNOZ RIVERA AVENUE, SAN JUAN, PR, 00918.
SONIA MARGARITA POU has worked at UBS FINANCIAL SERVICES INC. since February 07, 1991
Disclosure History
SONIA MARGARITA POU has 9 Disclosure Event(s).
Date: April 10, 2018 Category: Customer Dispute Allegations: Time frame: UnspecifiedClaimants allege investments in Puerto Rico closed-end funds were unsuitable, over concentrated, and misrepresented as safe investments. Damage Amount Requested: $430,000.00 Broker Comment: I deny the allegations as I feel they have no merit and look forward to defending myself against these allegations. Clients were completely aware of the benefits and risks associated with their investments and authorized all transactions. On numerous occasions clients were advised to diversify outside Puerto Rico and did not want to make any changes.
Date: February 01, 2018 Category: Customer Dispute Allegations: Time frame: Beginning in 2011 Claimant alleges that her investments in individual Puerto Rico bonds and closed-end funds were unsuitable and over-concentrated. Claimant also alleges that the risks associated with the investments and alleged over-concentration were not disclosed. Damage Amount Requested: $1,000,000.00 Broker Comment: I deny the allegations as I believe them to have no merit and will defend the charges. Clients were completely aware of the benefits and risks associated with their investments and authorized all transactions. On numerous occasions clients were advised to diversify outside Puerto Rico and did not want to make any changes.
Date: September 22, 2017 Category: Customer Dispute Allegations: Time frame: UnspecifiedClaimant alleges his investments in Puerto Rico closed-end funds were unsuitable, over concentrated, and misrepresented as safe investments. Damage Amount Requested: $200,000.00
Date: July 07, 2016 Category: Customer Dispute Allegations: Time Frame: January 2012 - PresentClaimant alleges unsuitable recommendations and misrepresentations in connection with the purchases of Puerto Rico closed-end municipal bond funds and First Bancorp stock. Damage Amount Requested: $300,000.00 Broker Comment: I deny the allegations as I believe them to have no merit and will defend the charges. Clients have had a relationship with me since 1994 and the investments in question were made in 2003 and 2005 and were suitable based on client's financial position and investment objectives of tax free income and no estate taxes. Client and her son were completely aware of the characteristics of the investments and authorized all transactions.
Date: April 05, 2016 Category: Customer Dispute Allegations: Claimants allege unsuitable recommendations and misrepresentations in connection with their purchases of Puerto Rico closed-end municipal bond funds and Puerto Rico municipal bonds. Time Frame: January 2012 - Present. Damage Amount Requested: $400,000.00 Settlement Amount: $85,000.00 Broker Comment: I deny the allegations as I believe I acted professionally in regards to my client. I met with the client several times at the beginning of our relationship and by phone at least once, if not twice a year, going forward to advise him and to make recommendations based on the performance of his account. I made several recommendations and he approved them - all to try and mitigate risk in the account. Just because this matter wassettled, one should not presume any liability or wrongdoing on my part whatsoever. This case was settled as a business decision to diminish the uncertainties and the cost associated with the arbitration process. I wasnot asked to contribute any personal monies toward the settlement of this case.
Date: March 04, 2016 Category: Customer Dispute Allegations: Claimants allege unsuitable recommendations and misrepresentations in connection with their purchases of Puerto Rico government bonds and Puerto Rico closed-end municipal bond funds. Time Frame: January 2012 - Present. Damage Amount Requested: $175,000.00 Settlement Amount: $80,000.00 Broker Comment: The settlement was made solely as a business decision by the firm. It does not reflect any wrongdoing on my part. I vehemently deny any allegations of wrongdoing and I did not contribute to the settlement. I discussed the benefits and risks involved with Puerto Rico bonds and closed end funds many times with clients and their daughters who had power of attorney over their accounts. When the market became volatile in 2013, I told the daughters to sell if they could not bear the uncertainty . They chose to hold the investments for a period of time before selling because they wanted to maintain the income. Overall, their closed end funds were profitable.
Date: October 07, 2015 Category: Customer Dispute Allegations: Time frame? Not statedClaimant alleges unsuitability, overconcentration, and misrepresentations involving the recommendation of a Puerto Rico closed-end fund and non-purpose loan. Damage Amount Requested: $1,290,000.00 Settlement Amount: $175,000.00 Broker Comment: I deny the allegations as I feel they have no merit and look forward to defending myself against these allegations. The above settled amount does not represent a settlement made with my client.
Date: March 31, 2015 Category: Customer Dispute Allegations: TIME FRAME: 2013-2015CLAIMANT ALLEGES THAT HER INVESTMENTS IN PUERTO RICAN GOVERNMENT BONDS AND PUERTO RICAN CLOSED-END FUNDS WERE OVERCONCENTRATED, UNSUITABLE AND MISREPRESENTED. Damage Amount Requested: $200,000.00 Settlement Amount: $75,000.00 Broker Comment: The client's claim is unfounded. I presented the risks and benefits associated with the investments made in her account. The client's account provided a positive total return on the investments at issue. I did my best to help this client with her investments and the client had expressed satisfaction with the service I provided. Additionally, in connection with her anticipated move to Illinois, I recommended quality Illinois bonds but the client decided to hold the PR closed end funds and PR municipal bonds until she was ready to move because she did not like the yield on the Illinois bonds compared to the PR investments. I was ready to defend myself in this matter and the settlement was made solely as a business decision by the firm and does not reflect any wrongdoing on my part or on the part of the firm whatsoever. Nor did I contribute to the settlement.
Date: November 03, 2000 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT BROKER TOLD HIM THAT IF HIS ACCOUNT DID NOT INCREASE IN VALUE AFTER THREE YEARS, HE WOULD RECEIVE ALL OF HIS MONEY BACK. Damage Amount Requested: $13,648.66 Broker Comment: THE ALLEGATIONS CUSTOMER HAS MADE ARE WRONG. WHEN OPENING THE ACCOUNT I PERSONALLY EXPLAINED IN DETAIL WHAT HIS INVESTMENT ALTERNATIVES WERE. HE WAS THINKING OF PUTTING THE FUNDS IN A CERTIFICATE OF DEPOSIT BUT THOUGHT CD RATES WERE TOO LOW. I EXPLICITLY TOLD HIM THAT HE COULD LIQUIDATE HIS INVESTMENTS BEFORE MATURITY AT THE MARKET VALUE. IF INTERESTS RATES WERE HIGHER, PRICES COULD BE LOWER JUST AS IF INTEREST RATES WERE LOWER PRICES COULD BE HIGHER. ON AUGUST 17, 2000 I SPOKE TO CUSTOMER AND EXPLAINED THAT HIS ACCOUNT HAD A LOWER MARKET VALUE DUE TO THE FACT THAT INTEREST RATES HAD BEEN RISING SINCE JUNE 1999 AND BOND PRICES WERE LOWER. AFTER THIS CONVERSATION HE SAID HE UNDERSTOOD THE FLUCTUATIONS IN HIS ACCOUNT AND WOULD WAIT UNTIL DECEMBER 2000 TO SEE IF THERE WAS AN IMPROVEMENT. CUSTOMER COMES EVERY MONTH PERSONALLY TO PICK UP HIS CHECKS AND ON SEVERAL OCCASIONS WE TALKED ABOUT HIS ACCOUNT. AT THE END OF 1998, I SUGGESTED THAT HE COULD LIQUIDATE THE ACCOUNT AND PUT THE FUNDS WHERE HE FELT MORE COMFORTABLE. AT THAT TIME THE MARKET VALUE WAS ABOVE $135,000 (AMOUNT ORIGINALLY DEPOSITED), HOWEVER, HE DECIDED TO KEEP HIS INVESTMENTS. I WISH TO EMPHASIZE THAT P R TAX FREE FUNDS ARE SOLD VIA PROSPECTUS.
More Information
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