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:
IA-5781
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 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
Document Date
19-Jul-2021
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
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”)."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Remedial Acts or Efforts Before the Resolution
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:
