Defendant Name:
UBS Financial Services Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
UBS Group AG
SIC Code:
6021
CUSIP:
H4209710
Document Reference:
33-10433
Document Details
Legal Case Name
In the Matter of UBS Financial Services Inc.
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 8A Of The Securities Act of 1933, Section 15(b) of the Securities Exchange Act of 1934, and Section 203(e) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
27-Oct-2017
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
According to the SEC: "UBS disadvantaged certain retirement plan and charitable organization brokerage customers ("Eligible Customers")1 by failing to ascertain that they were eligible for a less expensive share class, and recommending and selling them more expensive share classes in certain open-end registered investment companies ("mutual funds") when less expensive share classes were available. "
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Other Compliance Related Undertaking
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$3,500,000.00
Shared:
