Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Hector Mercado (Mercado), currently associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Mercado recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $500,000.00 on March 23, 2023.
Time frame: Unspecified\, \, Allegations: Claimant alleges the recommendation to invest in and hold Puerto Rico closed-end funds was unsuitable, and that his accounts were unsuitably over concentrated in Puerto Rico investments. He also alleges that the risks of investing in and concentration in Puerto Rico investments was misrepresented.