Defendant Name:
UBS O'Connor, LLC
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
UBS AG
SIC Code:
6021
CUSIP:
H8923133
Document Reference:
34-69680
Document Details
Legal Case Name
In the Matter of UBS O'Connor, LLC
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 21C of the Securities Exchange Act of 1934, 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
03-Jun-2013
Document Format
Administrative Proceeding
Allegation Type
Market Manipulation
Document Summary
On June 3, 2013, the SEC issued an administrative and cease-and-desist order instituting an order against UBS O'Connor, LLC. According to the SEC: "These proceedings arise out of violations of Rule 105 of Regulation M ('Rule 105') by UBS O'Connor, a Chicago, Illinois based registered investment adviser and manager of nine funds. UBS O'Connor violated Rule 105 sixteen times between January 2009 and March 2011 in connection with certain short sales it effected within the Rule 105 restricted period and subsequent purchases of the securities in firm commitment public offerings." On June 3, 2013, the SEC announced that UBS O'Connor, LLC submitted an offer of settlement that the Commission accepted. Pursuant to the settlement, UBS O'Connor LLC consented to the entry of a cease-and-desist order and remedial sanctions against it.
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$3,787,590.00
Shared:
Civil Penalty
Individual:
$1,140,000.00
Shared:
Pre-Judgment Interest
Individual:
$369,766.00
Shared:
