Roberto Fortuno is Facing an Investor Dispute

Roberto Fortuno (CRD #: 2323674), a broker registered with UBS Financial Services, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on February 22, 2024. Details concerning this disclosure are disclosed. 

Puerto Rico Bond Allegations 

On December 1, 2023, investors alleged that Roberto Fortuno recommended that they invest in and hold unsuitable Puerto Rico closed-end funds. They further alleged that Roberto Fortuno misrepresented the risks of investing in and concentrating in PR investments. Major credit agencies downgraded bonds issued by Puerto Rico in 2014, the beginning of a serious, nationwide debt crisis. 

The investors are seeking $800,000. 

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable. This rule also prohibits overconcentration, as placing too much of a portfolio in a single sector exposes the investor to unnecessary risk. 

Background Information 

Roberto Fortuno has passed the following exams: 

• Series 66 Uniform Combined State Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• Series 79TO Investment Banking Registered Representative Examination 
• SIE – Securities Industry Essentials Examination 
• Series 3 National Commodity Futures Examination 
• Series 7 General Securities Representative Examination
• Series 9 General Securities Sales Supervisor – Options Module Examination 
• Series 10 General Securities Principal Examination 
• Series 24 General Securities Principal Examination 

He is a registered broker in Florida, New Jersey, New York, and Puerto Rico. He is also a registered investment adviser in Florida, New Jersey, and Puerto Rico. 

Roberto Fortuno has registered with the following firms: 

• UBS Financial Services 
• UBS Financial Services Incorporated of Puerto Rico 
• Lehman Brothers (CRD #: 7506) 
• Lehman Brothers Puerto Rico (CRD #: 10890) 
• Lehman Government Securities (CRD #: 19655) 

Kurta Law Can Help 

If you have worked with Roberto Fortuno and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.