Defendant Name: UBS Global Asset Management (Americas) Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: UBS AG
SIC Code: 6021
CUSIP: H8923133

Initial Case Details

Legal Case Name In the Matter of UBS Global Asset Management (Americas) Inc.
First Document Date 17-Jan-2012
Initial Filing Format Administrative Action
File Number 3-14699
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Related Violations Alleged

UBS Global Asset Management (Americas) Inc. is alleged to have aided and abetted an unidentified individual or entity's violation of Rules 22c-1, 38a-1 Investment Company Act.
UBS Global Asset Management (Americas) Inc. is alleged to have caused an unidentified individual or entity's violation of Rules 22c-1, 38a-1 Investment Company Act.
UBS Global Asset Management (Americas) Inc. is alleged to have caused an unidentified individual or entity's violation of Rule 22c-1, 38a-1 Investment Company Act.

Resolutions

First Resolution Date 17-Jan-2012
Headline Total Penalty and Disgorgement $300,000

Related Documents:

2012-8 17-Jan-2012 Press Release--Administrative Proceeding
SEC Charges UBS Global Asset Management for Pricing Violations in Mutual Fund Portfolios
On January 17, 2012, the SEC announced that it "charged an investment advisory arm of UBS with failing to properly price securities in three mutual funds that it managed, resulting in a misstatement to investors of the net asset values (NAVs) of those funds. The misconduct was revealed during the course of an SEC examination, minimizing investor harm."
IA-3356 17-Jan-2012 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 203(e) of the Investment Advisers Act of 1940 and Sections 9(b) and 9(f) of the Investment Company Act of 1940, Making Findings, and Imposing Remedial Sanctions, Civil Penalties and a Cease-and-Desist Order
On January 17, 2012, the SEC instituted settled administrative and cease-and-desist proceedings against UBS Global Asset Management (Americas) Inc. ("UBSGAM"). According to the SEC: "This proceeding concerns the misstatement of the Net Asset Values ('NAVs') of certain registered investment companies (the 'Funds') managed by UBSGAM. UBSGAM failed to cause certain fixed-income securities in the portfolios of the Funds to be valued in accordance with the Funds' fair valuation procedures. UBSGAM's failure to properly fair value these securities resulted in a misstatement of the NAVs of the Funds."