Plaintiffs allege unsuitable investment recommendations, fraudulent and negligent misrepresentations, and omissions of material information regarding investments in Plaintiffs' account.

$157,779.00

Time frame: Unspecified Claimants alleges the recommendations to invest in and hold Puerto Rico Closed-End Bond Funds and Puerto Rico Government Bonds were unsuitable and that his accounts were unsuitably over-concentrated in those investments. Claimant also alleges that the risk of concentration in Puerto Rico investments was misrepresented.

$1,000,000.00

$150,000.00

Representative denies the allegations made against him in this proceeding. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. As of 1/4/2021, UBS has settled this case for $150,000. The representative was not asked to contribute to the settlement.

Time frame: Unspecified Claimant alleges her investments in Puerto Rico closed-end funds and securities were unsuitable, over-concentrated, and misrepresented as safe investments.

$250,000.00

$135,000.00

Claimants allege, inter alia, unsuitability with respect to recommendations to purchase and hold Puerto Rico bonds and closed end funds in account - 2014 to 2017

$320,000.00

$78,000.00

In order to avoid the costs and uncertainties of litigation, Morgan Stanley agreed to pay Claimants $78,000.00 in full and final settlement of any and all claims asserted by Claimants in this proceeding. This is a separate settlement from that of Santander Securities settlement of $85,000 with the status date of 11/23/2020.

Client's allege over-concentration, scalping, violations of securities laws and FINRA rules, negligence, breach of suitability duty, breach of duty to engage in fair dealings, breach of fiduciary duty, breach of contract and failure to supervise, negligent misrepresentation (Puerto Rico municipal bonds and Puerto Rico open end funds). Includes request for interest, costs and rescission.

$750,000.00

Rafael Gonzalez is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. As of 07/07/2020, the Firm has settled this case for $750,000. The representative was not asked to contribute to the settlement.

Client alleges unsuitability, over-concentration, breach of fiduciary duties, negligence, negligent supervision, failure to supervise, fraud, breach of contract, and violations of securities laws and rules (Puerto Rico closed-end funds). Includes request for rescission, punitive damages, interest, costs and fees.

$45,000.00

Rafael Gonzalez is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy.As of 5/26/20, the Firm settled this matter for $45,000. The representative was not asked to contribute to the settlement.

Time frame: Unspecified. Allegations: Claimants allege that their investments in Puerto Rico securities, including UBS Puerto Rico closed-end bond funds and Puerto Rico municipal bonds, were unsuitable and over-concentrated. Claimants also allege that the risks associated with the investments and alleged over-concentration were not disclosed.

$133,000.00

$67,650.00

Claimants allege, inter alia, unsuitability with respect to recommendation to hold Puerto Rico bonds investment in accounts - 2014 to 2018

$9,000.00

In order to avoid the costs and uncertainties of litigation, Morgan Stanley agreed to pay Claimants $9,000.00 in full and final settlement of any and all claims asserted by Claimants in this proceeding. This is a separate settlement from that of Santander Securities settlement of $95,000 with the status date of 12/16/2020.

Client alleges over-concentration, scalping, violations of securities laws and FINRA rules, negligence, negligent misrepresentation and omission, negligence in violation of industry standards, breach of suitability duty, breach of duty to engage in fair dealings, breach of fiduciary duty, breach of contract and failure to supervise (Puerto Rico municipal bonds and open-end funds). Includes request for interest, costs and rescission.

$500,000.00

$120,000.00

Client alleges, among other things, unsuitability, overconcentration, breach of fiduciary duties, negligence, negligent supervision, failure to supervise, fraud, breach of contract, and violations of securities laws and rules (Puerto Rico closed-end funds and open ended funds). Includes request for rescission, punitive damages, interest, and fees.

$100,000.00

Rafael Gonzalez is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. As of 12/9/19, the Firm has settled this case for $100,000. The representative was not asked to contribute to the settlement.

Client alleges breach of fiduciary duty, negligence, fraud, failure to supervise and breach of contract (Puerto Rico municipal bonds and closed-end funds).

$150,000.00

$75,000.00

Rafael Gonzalez is not a named respondent to this arbitration. The claims are believed to stem from the unprecedented turmoil experienced in the Puerto Rico economy. As of 08/06/2018, the firm has settled this case for $75,000. The representative was not asked to contribute to the settlement.

CLIENTS ALLEGE BREACH OF FIDUCIARY DUTY, BREACH OF CONTRACT, CONTRACTUAL NEGLIGENCE, FRAUD AND CONSTRUCTIVE FRAUD, AND FAILURE TO SUPERVISE AND CONTROL.

$500,000.00

$75,000.00

Santander's comments: RAFAEL GONZALEZ IS NOT A NAMED RESPONDENT TO THIS ARBITRATION. As of 12/2/2016, the firm has settled this case for $75,000. The representative was not asked to contribute to the settlement.

CLIENT ALLEGES BREACHES OF FIDUCIARY DUTY, BREACH OF CONTRACT, CONTRACTUAL NEGLIGENCE, FRAUD AND FAILURE TO SUPERVISE AND CONTROL.

$500,000.00

$200,000.00

RAFAEL GONAZALEZ IS NOT A NAME RESPONDENT TO THIS ARBITRATION. Santander's comments: As of 8/5/2016, the firm has settled this case for $200,000. The representative was not asked to contribute to the settlement.

TIME FRAME: 2005 CLAIMANT ALLEGES THAT FA MISREPRESENTED THE RISKS OF CLOSED-END FUNDS INVESTMENT.

$500,000.00

$125,000.00

TIME FRAME: 2004-2006 CLAIMANTS ALLEGE UNSUITABLE RECOMMENDATIONS AND MISREPRESENTATIONS IN CONNECTION WITH THEIR PURCHASE OF CLOSED-END PUERTO RICO MUNICIPAL FUNDS.

$295,778.00

$150,000.00

TIME FRAME: 2002-PRESENT CLAIMANTS ALLEGE OVERCONCENTRATION IN PUERTO RICO CLOSED-END FUNDS AND BONDS THAT EXPOSED THEM TO A HIGH DEGREE OF UNDISCLOSED RISK AND WAS UNSUITABLE.

$320,038.00

$137,500.00

CLIENT ALLEGES HER INSTRUCTIONS TO PURCHASE A LOW RISK, NON PUERTO RICO FUND WITH A 7% AVERAGE RATE WERE NOT FOLLOWED . TIME FRAME: JANUARY 27, 2005 - JULY 20, 2012.

$29,939.45

FINANCIAL CONSULTANT DENIES ALLEGATIONS. FINANCIAL CONSULTANT ALLEGES THAT AT ALL TIMES HE FOLLOWED CUSTOMER INSTRUCTIONS.