Defendant Name: UBS Securities LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: UBS AG
SIC Code: 6029
CUSIP: H8920M85

Initial Case Details

Legal Case Name SEC v. UBS Securities LLC, f/k/a UBS Warburg LLC
First Document Date 28-Apr-2003
Initial Filing Format Civil Proceeding
Case Number 03-cv-02943
Allegation Type Investment Advisers/Investment Companies
Federal District Court New York, Southern District of New York

Violations Alleged

Other
• Section 17(b) Securities Act; Rule 2110, 2210, 3010 Conduct Rules of NASD; Rules 342, 401, 472, 476 NYSE

Resolutions

First Resolution Date 28-Apr-2003
Headline Total Penalty and Disgorgement $80,000,000

Related Documents:

LR-18112 28-Apr-2003 Litigation Release
SEC Sues UBS Warburg for Research Analyst Conflicts of Interest; Firm to Settle with SEC, NASD, NYSE, NY Attorney General, and State Regulators
comp18112 28-Apr-2003 Complaint
Complaint
According to the SEC: "Defendant engaged in acts and practices that created and/or maintained inappropriate influence by investment banking over research analysts, thereby creating conflicts of interest for its research analysts. Defendant failed to manage these conflicts in an adequate manner. During this time period, Defendant offered its research analysts and securities research coverage in order to assist in gaining investment banking business and receive investment banking fees. It also received payments from other investment banks to cover their investment banking clients, and made payments to other securities firms primarily for research coverage for its investment banking clients. In addition, Defendant compensated its research analysts based in part upon their contributions to Defendant's investment banking business. These relationships and activities constituted substantial conflicts of interest for Defendant's research analysts."
judge18112 31-Oct-2003 Court Docket Document
Final Judgment as to Defendant UBS Securities LLC, f/k/a UBS Warburg LLC
LR-21457 19-Mar-2010 Litigation Release
Court Approves Modifications to Global Research Analyst Settlement
On March 19, 2010, the SEC published a litigation release announcing that the Honorable William H. Pauley issued an order approving modifications to the final judgments entered against USB Securities LLC and the other firms covered by the Global Research Analyst Settlement.