Search for: "UBS Financial Services Inc."
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4 Jan, 2007 6:18 am
The New York Attorney General's Office is suing UBS Financial Services, Inc. for defrauding thousands of its customers. The lawsuit provides detailed information about a scheme where UBS moved clients from regular brokerage accounts to UBS's " ... hardly ever trade securities or hold no-load mutual
funds, a large amount of cash, or similar assets. UBS is being accused of falsely promoting InsightOne as being a brokerage program that offers
personalized advice and other types of financial planning ...
13 Nov 4:19 pm
... s a 2.5% increase. Stifel has been working to turn its business into a full-service investment bank and its subsidiary, Stifel, Nicolaus, & Co., recently completed its
buy of 56 UBS Financial Services Inc. branches,
which it purchased for at least $46 million. Stifel says the deal should ... broker-dealers that misled them about the risks associated with these investments. Related Web Resources:
Stifel Financial 3Q Profit Climbs 73%; Results Top Views, Wall Street Journal, November 9 ...
11 Jun 1:17 pm
New Hampshire securities regulators have accused UBS Financial Services, Inc. of unfair sales practices and failing to supervise its brokers who sold Lehman Brothers structured products, including so-called
"principal protected" notes.
11 Jun 1:17 pm
New Hampshire securities regulators have accused UBS Financial Services, Inc. of unfair sales practices and failing to supervise its brokers who sold Lehman Brothers structured products, including so-called
"principal protected" notes.
10 Jul 1:58 pm
... ("TRO") granted by the U.S. District Court for the Southern District of Ohio against three former employees of UBS Financial Services Inc. ("UBS"), in effect pending an arbitration
hearing before the Financial Industry Regulatory Authority ... . The expanded TRO also barred Lofton and Poland from disclosing, transmitting,
or destroying the information contained in the records of UBS or concerning its clients. Also, where the previous TRO had called for all
customer information in electronic form in ...
4 Jun 4:34 pm
According to New Hampshire securities regulators, UBS Financial Services Inc., a unit of UBS AG, misled investors regarding complex securities that were issued by Lehman
Brothers before the latter filed for bankruptcy protection in 2008. The Bureau of Securities Regulation says investors were misled when the representatives for the UBS unit told them that the securities were safe, while failing to let them know that Lehman Brothers was in trouble. The state ...
8 Jul, 2008 1:49 pm
... Section of the Massachusetts Securities Division recently filed an administrative complaint against UBS Securities, LLC and UBS Financial Services, Inc. alleging conflicts of interest and use
of misleading sales practices in the ... not sell those investments at any price. According to the Complaint: The common theme of all of the customers that contacted the Division was
that the money UBS placed into ARS was intended to be their safe money and that it would be 100 percent principal-protected and ...
9 May, 2008 8:02 am
... of persons who purchased auction rate securities from UBS AG (NYSE: UBS), UBS Securities LLC and UBS Financial Services Inc. between May 8, 2003 and ... mutual funds. On Feb. 13, 2008, all of the major broker-dealers, including UBS, withdrew their support for the auctions. The suit claims that, as a result, investors have been ... dates. • The auction rate securities were only liquid
at the time of the sale because UBS and other broker-dealers were artificially supporting and manipulating the market to ...
26 Jun, 2008 11:05 pm
... securities as safe to investors so that the company could reduce its stake in the instruments. The complaint asserts that even though UBS
insiders were calling the program an "albatross" and knew it was likely to collapse early in 2008, it continued ... action lawsuit in the U.S. District Court for the Southern District
of New York on behalf of persons who purchased auction rate securities from UBS AG (NYSE: UBS),
UBS Securities LLC and UBS Financial Services Inc. between May 8, 2003 and Feb. 13, ...
12 Aug 4:51 pm
UBS Financial Services Inc. has agreed to be fined
$100,000 and Merrill Lynch, Pierce, Fenner & Smith Inc. has consented to a $150,000 ... Ong (about $350,000 in client losses) The investigation into the activities of a
number of former UBS brokers is ongoing. Closed-End Funds Closed-End Funds are investment companies ... properly train registered individuals.
Due to this improper supervision, brokers for Merrill and UBS recommended that certain clients engage in short-term sales of CEF's bought ...
11 Jun, 2008 11:33 am
... allegedly told the investments were "as safe as cash." Healey writes: "It is a conflict that could mean UBS bears more responsibility for
its role in the auction-rate securities debacle than it has ... of persons who purchased auction rate securities from UBS AG (NYSE:
UBS), UBS Securities LLC and UBS Financial Services Inc. between May 8, 2003 and ... , 2008. Auction-rate securities investors who wish to
discuss their rights against UBS or any other broker-dealer may contact Carey & Danis toll-free ...
8 Jul, 2008 7:47 pm
... broker has filed a whistle-blower lawsuit against his former employer claiming UBS retaliated against him for cooperating with state
regulators and forced him to resign. In ... testimony led to a fraud suit filed in late June by the Massachusetts Securities Division against UBS. A senior vice president, Flynn claims he was locked out of his office twice ... of persons who purchased auction rate securities from UBS AG (NYSE: UBS), UBS Securities LLC and UBS Financial Services Inc. between May 8, 2003 and ...
25 Jul, 2008 2:47 pm
The New York Attorney General filed a civil complaint yesterday against UBS Securities LLC and UBS
Financial Services, Inc. alleging that UBS
"committed a multi-billion dollar consumer and securities fraud on the investing ... alleged conflicts of interest in UBS' different roles in
ARS securities, and alleged sales of ARS by senior officers at UBS. In support of these allegations, the NYAG complaint references information
purportedly provided by anonymous UBS customers and UBS financial advisors, ...
11 May, 2008 7:38 pm
UBS Financial Services Inc. and UBS Securities LLC, both units of UBS AG, have agreed to pay 19 Massachusetts public agencies and local governments
... and international victims of investor fraud recover their losses. Related Web Resources: UBS to return $35M to Massachusetts governments,
agencies in settlement over risky investments, International Herald ... $35 mln to US state over investments, AFP, May 8, 2008 UBS
Financial to return $37M to cities, towns, MTA, Massachusetts Municipal Association, May ...
30 Jul, 2008 9:05 pm
... last Thursday by New York State Attorney General Andrew Cuomo which alleges UBS committed multibillion-dollar fraud when it steered clients
into the auction-rate securities market ... worth of auction-rate investments at the same time they urged clients to continue buying the instruments. UBS did not comment on the personnel matter. However, as Reuters notes ... persons who purchased auction rate securities from UBS AG (NYSE: UBS), UBS Securities LLC and UBS Financial Services Inc. between May 8, 2003 ...
8 Oct, 2008 1:56 pm
... the market was about to collapse. Aufhauser is notable not only because he was a top executive at UBS but he was also the highest ranking
in-house lawyer at the Treasury Department and ... task force. Aufhauser will give up a $6 million bonus he was to receive from UBS and will
pay a $500,000 penalty. In addition, he is barred from working in the securities ... persons who purchased auction rate securities from UBS AG
(NYSE: UBS), UBS Securities LLC and UBS Financial Services Inc. between May 8, 2003 ...
22 Dec, 2008 5:18 pm
UBS Financial Services, Inc., UBS Securities, LLC, and Citigroup have reached finalized settlements with the Securities and Exchange Commission to pay tens of thousands of ARS investors
almost $30 billion. The settlements will ... for the Southern District of New York still needs to approve the settlements, and additional SEC penalties could still arise for
UBS and Citi. The SEC is also waiting to finalize the settlements-in-principle it reached with Merrill Lynch, Bank of America, Wachovia, and
...
28 Feb, 2008 3:05 pm
... transfer programs." Prudential Securities must pay an $800,000 fine, UBS Financial
Services, Inc. was fined $750,000 and Pruco Securities was hit for $100, ... fund transactions in the accounts of 5,300 households.
Merrill Lynch, Prudential Securities, UBS and Wells Fargo must take steps regarding customers who qualified for but ... inadequate supervisory
systems FINRA found that customers of Merrill Lynch, Wells Fargo, UBS and Prudential Securities eligible for the NAV programs incurred
front-end sales ...
24 Jul, 2008 12:09 pm
... at a press conference just a few minutes ago that he has sued two UBS AG units for allegedly misrepresenting to clients the risks of
auction-rate securities before the $330 ... year. Cuomo said his office has filed a lawsuit against UBS Securities LLC and UBS Financial Services Inc. for falsely selling and marketing
auction-rate securities as safe and liquid investments. "Not only is UBS guilty of committing a flagrant breach of trust between the bank and
its customers, its top executives jumped ...
25 Jul, 2008 7:18 pm
... New York Attorney General Andrew Cuomo filed a civil fraud lawsuit against UBS alleging the banking behemoth knew the auction-rate
securities market was on the verge of collapse when ... was solid. Cuomo said in a press release issued by his office: "Not only is UBS guilty
of committing a flagrant breach of trust between the bank and its customers, its top ... of persons who purchased auction rate securities from UBS AG (NYSE: UBS), UBS Securities LLC and UBS Financial Services Inc. between May 8, 2003 ...
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