Defendant Name:
UBS Securities LLC
Defendant Type:
Subsidiary of Public Company
Document Reference:
LR-21457
Document Details
Legal Case Name
SEC v. UBS Securities LLC, f/k/a UBS Warburg LLC
Document Name
Court Approves Modifications to Global Research Analyst Settlement
Document Date
19-Mar-2010
Document Format
Civil Proceeding
Case Number
03-cv-02943
Federal District Court
New York, Southern District of New York
Federal District Judge
William H. Pauley III
Allegation Type
Investment Advisers/Investment Companies
Document Summary
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.
Disgorgement & Penalty Information
Resolutions
Approving modifications to the final judgments entered against the twelve firms covered by the Global Research Analyst Settlement.
Related Documents:
SEC Sues UBS Warburg for Research Analyst Conflicts of Interest; Firm to Settle with SEC, NASD, NYSE, NY Attorney General, and State Regulators
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."
Final Judgment as to Defendant UBS Securities LLC, f/k/a UBS Warburg LLC
Global Research Analyst Settlement; SEC Consents to Termination of Undertakings in Global Research Analyst Settlement
On December 5, 2025, the SEC stated that: "[It] consented to modifications to the
October 2003 . . . and September 2004 . . . final judgments against settling firms still
covered by the Global Research Analyst Settlement, a global settlement of SEC and other
enforcement actions against twelve investment banks and two individuals. The modifications
are subject to court approval."
Notice Regarding Defendants' Rule 60(b) Motion to Modify Addendum A of Global Research Settlement
The SEC stated: "[T]he Securities and
Exchange Commission (SEC) consents to the relief sought by the motions and
agrees that the final judgments should be modified as reflected in the proposed
orders submitted by each respective Defendant. . . . Based on these unique facts and circumstances, the SEC believes
modification of the Judgment is in the public interest."
Order
The Court stated: "On December 5, 2025, Defendants . . . filed a motion . . . requesting that this Court further modify Addendum A by terminating the remaining provisions in Sections I and II. . . . Defendants' request is GRANTED."
