The allegations read: The customer alleges he suffered losses through unsuitable and materially misleading investment advise given by ofsc, including unsuitable over-concentration of his previously diversified retirement account in risky puerto rico municipal bonds and puerto rico bond funds; unsuitable and misleading advise and risk disclosure failures concerning pr bond and pr funds and unsuitable and misleading advice and failure to diversify out of these as the puerto rican economy suffered a severe downturn and its credit rating collapse from early 2012 through 2013.
