CLIENT'S COUNSEL ALLEGES SUITABILITY, OVER-CONCENTRATION AND MISREPRESENTATION IN REFERENCE TO PURCHASES OF CEFS AND PUERTO RICO GOVERNMENT BONDS IN CLIENT'S ACCOUNTS. TIME FRAME - 2006 TO PRESENT.

$175,000.00

$110,000.00

I DENIED THESE ALLEGATIONS AS ALLEGED AND KNOW THEM TO BE FALSE. WHILE I DID KNOW THIS CLIENT WHEN WE WERE AT ANOTHER FIRM, I WAS NEVER AN FA NOR DID I EVER RECOMMEND ANY INVESTMENTS OR SOLICIT ANY PRODUCTS. THE CLIENT WAS ASSIGNED TO AN FA AT THAT FIRM AND I ONLY HELPED TO SERVICE THE ACCOUNT AS A CSA: I DID NOT MAKE ANY RECOMMENDATIONS WHATSOEVER. WHEN I LEFT THIS FIRM AND CAME TO UBS, THE CLIENT WANTED TO FOLLOW ME. MY NEW POSITION AT UBS WAS AS A COMPLIANCE OFFICER - NOT AS A BROKER OR IN MY OLD POSITION AS A CA, SO I TOLD HIM I COULD NOT HELP SERVICE IS ACCOUNT BUT I COULD RECOMMEND AN FA AT UBS TO MANAGE HIS ACCOUNT. I RECOMMENDED AN FA WHO HAS MANAGED THE CLIENT'S ACCOUNT SINCE THAT TIME. AGAIN, LET ME SAY THAT I WAS NOT INVOLVED IN THE RECOMMENDATION OR SOLICITING OF ANY INVESTMENT FOR THIS CLIENT. I WAS NEVER A BROKER DURING THE TIME THAT I HAVE KNOWN THIS CLIENT AND THIS CLIENT WAS ALREADY FULLY INVESTED IN CEFS AND BONDS BEFORE I EVEN FIRST MET HIM. I INTEND TO DEFEND MYSELF AGAINST THIS FACTUALLY INACCURATE STATEMENT OF CLAIM AND WILL SEEK ALL REMEDIES AFFORDED TO ME TO HAVE THIS MATTER REMOVED FROM MY RECORD.