Defendant Name:
UBS Global Asset Management (Americas) Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
UBS AG
SIC Code:
6021
CUSIP:
H8923133
Document Reference:
IA-3356
Document Details
Legal Case Name
In the Matter of UBS Global Asset Management (Americas) Inc.
Document Name
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
Document Date
17-Jan-2012
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Monetary Penalties:
Civil Penalty
Individual:
$300,000.00
Shared: