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UBS follows Morgan Stanley in leaving broker protocol
November 30, 2017
UBS is withdrawing from the Protocol for Broker Recruiting Agreement, making it the second wirehouse and original member of the arrangement to do so after Morgan Stanley withdrew from it in October. The brokerage sent a memo to its advisors Monday morning notifying them the firm would no longer be a member of the agreement […]
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UBS Reverse Convertible Note Losses
October 3, 2016
On September 28, 2016, the U.S. Securities & Exchange Commission announced that it had imposed severe monetary penalties on UBS Financial Services in connection with the firm’s activities involving nearly $10.7 billion of stock-linked reverse convertible notes (“RCNs”) that had been sold to approximately 44,000 customer accounts between 2011 and 2014. (“In the Matter of […]
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UBS to Pay $19.5 Million Settlement Involving Notes Linked to Currency Index
October 14, 2015
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 […]
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AUB investigates UBS Puerto Rico for losses in bond funds
October 4, 2013
Aidikoff, Uhl & Bakhtiari 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 to […]
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UBS Fined By FINRA For Lehman Principal Protected Note Meltdown
April 12, 2011
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 […]
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