UBS Financial Services of Puerto Rico faces the threat of a legal action for allegedly giving incomplete and deceptive information to clients, 16 months after the unit of the Swiss banking giant paid a fine to the Securities and Exchange Commission to settle a claim it misled Puerto Rico investors.

San Juan, Puerto Rico, law firm Vicente & Cuebas is threatening to file cases on behalf of at least 15 clients who live in the commonwealth and invested in closed end funds created by UBS, the firm's partner Harold Vicente Sr. said.

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