A FINRA arbitration panel has awarded more than $521,000 to UBS Financial Services Inc. clients, to cover damages in a case related to the clients' investments in Puerto Rican bonds and closed-end bond funds.

The clients accused the company of violating the Puerto Rico Uniform Securities Act, securities fraud, common law fraud, and constructive fraud, unsuitability, for breaching fiduciary duty, negligence and negligent supervision and for breaching the contract. They had originally requested compensatory damages of $840,000, plus interest, costs, expert witness fees, and FINRA fees, attorneys fees.