Defendant Name: UBS Financial Services Inc.

Defendant Type: Subsidiary of Public Company

Document Reference: 34-99579

Document Details

Legal Case Name In the Matter of UBS Financial Services Inc.
Document Name Order Authorizing the Transfer to the U.S. Treasury of the Remaining Funds and Any Funds Returned to the Fair Fund in the Future and Terminating the Fair Fund
Document Date 21-Feb-2024
Document Format Administrative Proceeding
File Number 3-20401
Allegation Type Investment Advisers/Investment Companies
Document Summary The Commission ordered that: "A. the remaining funds in the amount of $20,487.50 that are infeasible to return to investors, and any funds returned to the Fair Fund in the future that are infeasible to return to investors . . .; B. the Fair Fund is terminated."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
The Commission ordered that: "A. the remaining funds in the amount of $20,487.50 that are infeasible to return to investors, and any funds returned to the Fair Fund in the future that are infeasible to return to investors . . .; B. the Fair Fund is terminated."
Fair Funds
Monetary Penalties:

Disgorgement

Individual:     $96,344.00 Shared:    

Civil Penalty

Individual:     $8,000,000.00 Shared:    

Pre-Judgment Interest

Individual:     $15,930.00 Shared:    

Total Penalty

Individual:     $8,112,274.00 Shared:    

Related Documents:

IA-5781 19-Jul-2021 Administrative Proceeding
Order instituting Administrative and Cease-and-Desist Proceedings, pursuant to Sections 203(E) and 203(K) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On July 19, 2021, the SEC instituted settled cease-and-desist proceedings against UBS Financial Services Inc. stating: "This matter concerns UBS’s failure to adopt and implement written policies and procedures reasonably designed to prevent unsuitable investments in volatility-linked-exchange-traded products (“ETPs”) between January 2016 and January 2018 (the “Relevant Period”)."
2021-130 19-Jul-2021 Press Release--Administrative Proceeding
UBS Settles Charges Related to Investments in Complex Exchange-Traded Product
The SEC stated that: "[It] filed a settled action against UBS Financial Services Inc. for compliance failures relating to sales of a volatility linked exchange-traded product (ETP)."