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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) […]

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UBS ETRACS Investor Losses

Aidikoff, Uhl & Bakhtiari is investigating 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 index. Exchange-Traded […]

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UBS’ Yield Enhancement Strategy (“YES”) Causes Massive Losses

On August 23, 2019, an extensive article in The Wall Street Journal (“UBS Faces Client Backlash over Options Strategy”), exposed a complex investment strategy pitched as low-risk by stockbrokers at UBS Group AG (NYSE – UBS) that has triggered a backlash from clients of its securities unit. The strategy, called Yield Enhancement Strategy, or “YES,” has reportedly […]

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UBS Yield Enhancement Strategy (YES)

Aidikoff, Uhl & Bakhtiari is investigating the sale of the Yield Enhancement Strategy (“YES”) recommended by financial advisors to UBS customers.  The investigation focuses on UBS sales practices and representations made in connection with the recommendation of the UBS YES program for fixed income customers. UBS’s Yield Enhancement Strategy (“YES”) reportedly had over $5 billion under […]

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UBS Financial Services Inc. – Weehawken, New Jersey

An AWC was issued in which the firm was censured and fined $20,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it submitted ROEs to OATS that contained inaccurate, incomplete, or improperly formatted data. The findings stated that the firm submitted reports to OATS […]

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