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UBS to Pay $19.5 Million Settlement Involving Notes Linked to Currency Index

Case Is Agency’s First Against an Issuer of Retail Structured Notes The Securities and Exchange Commission today announced that UBS AG has agreed to pay $19.5 million to settle charges that it made false or misleading statements and omissions in offering materials provided to U.S. investors in structured notes linked to a proprietary foreign exchange […]

Securities law firm investigates UBS Puerto Rico for losses in bond funds

The firm continues to investigate the sales practices of Wall Street firms in recommending bond funds to it’s clients. In May 2012 the SEC issued a Cease-and-Desist Order against UBS Puerto Rico. Pursuant to the order, UBS Puerto Rico agreed to pay $26 million in disgorgement and settle charges that it sold allegedly mispriced closed end funds […]

UBS Fined By FINRA For Lehman Principal Protected Note Meltdown

The Financial Industry Regulatory Authority imposed a $2.5 million fine on UBS AG’s (UBS) wealth-management services unit and ordered $8.25 million in restitution in settlement of charges that it had misled investors about the risk of default in certain Lehman Brothers Holdings Inc. notes. In the months leading up to Lehman’s collapse, UBS Financial Services […]

UBS Hit With $81 Million Auction Rate Securities Award By FINRA Arbitration Panel

A FINRA arbitration panel ordered UBS AG on Tuesday to pay $81 million in damages to a Bethesda, Maryland-based cellphone marketer that purchased auction-rate securities through the U.S. brokerage. FINRA documents posted online showed a panel comprised of three public arbitrators ordered to pay the damages to Kajeet Inc, which purchased student-loan auction-rate securities that […]

Charges Settled for Former UBS Broker who Sold Auction-Rate Securities

David Shulman, the former UBS executive who was suspended by UBS in July 2008, has agreed to pay a $2.75 million fine over insider trading charges connected to auction-rate securities sales and be suspended from employment by a broker or dealer until next January. “While thousands of UBS customers received no warning about the auction-rate […]