Blog
SEC Fines UBS Financial Services, Inc
The Securities and Exchange Commission today announced settled charges against broker-dealer UBS Financial Services Inc. for failing to report suspicious transactions in customer accounts. UBS agreed to pay a $5 million civil penalty to resolve the SEC’s charges, and separately agreed to pay $10 million to the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) […]
Exchange-Traded Products (ETPs)
On May 15, 2020, the Financial Industry Regulatory Authority (FINRA) issued a Regulatory Notice (“Oil-Linked Exchange-Traded Products”), which highlighted the fact that Exchange-Traded Products (ETPs), which provide different types of exposure to the oil market through several product structures, might not be understood by investors or investment professionals and that the performance of such products […]
FINRA Proposes Enhancements to Protect Senior Investors from Financial Harm
On April 16, 2020, the Financial Industry Regulatory Authority (FINRA) issued an alert which stated that “there is no higher priority for FINRA than protecting senior investors from financial exploitation. Thus, every year we bring dozens of enforcement actions against brokers who harm senior investors, either through fraud schemes, conversion, churning of accounts, or otherwise.” […]
Attorneys investigate UBS ETRACS Investor Losses
Attorneys are providing notice of their investigation of UBS Financial Services, Inc. (“UBS”) for possible sales practice violations, including but not limited to failing to disclose material risks associated with its ETRACS product. ETRACS Exchange Traded Notes are senior, unsecured, unsubordinated debt securities that are designed to track the total return of a specific market […]