Jose Irizarry Permanently Barred by FINRA After Involvement in UBS Puerto Rico Fiasco

After 17 years in the securities industry, Irizarry has been permanently barred

Jose Irizarry began working in the financial services industry in the early 1990’s. During his long career, he worked for various firms, including Merrill Lynch, Pierce, Fenner & Smith in New York, PaineWebber in New Jersey and most recently for UBS Financial Services in San Juan Puerto Rico.

As of August, 2015, Irizarry has been permanently barred by the FINRA following a 3-month suspension in which he failed to request termination of his suspension in the specified time-frame.

During his tenure at UBS Financial Services in San Juan, Puerto Rico, he was accused of misrepresentations, unsuitability and over concentration concerning investments in Puerto Rico municipal Bonds and closed-end bond funds. The complaint, which alleges damages in excess of $800,000, was filed in August of 2015.

In addition, a judgment of over $500,000 was made against Irizarry in civil court by Popular Auto, Inc. in September of 2011.

UBS is the largest Wall Street bank in Puerto Rico. Over the last decade, UBS of Puerto Rico packaged and sold its own proprietary bond fund to investors throughout Puerto Rico. Many of these investors allege UBS created these alternative investments under false pretenses, telling investors the funds offered a low risk alternative when, in reality, the structure of the funds were highly leveraged and speculative.

We currently represent over one hundred families in securities arbitration claims against UBS alleging that the UBS bond funds were misrepresented to the investors and that many investors were overconcentrated in the funds.

If you used Irizarry for financial services or are interested in learning more about the disciplinary action against him, it’s recommended that you seek the services of an experienced securities attorney.

The attorneys at Silver Law Group are industry leaders in the field of FINRA and securities arbitration with unique experience in the UBS bond fiasco. Our services are on a contingency-fee basis, which means we are only compensated if there is a recovery of losses. Contact us today for a complimentary consultation.