trending Market Intelligence /marketintelligence/en/news-insights/trending/waYoA-gZpXmllicwR8V0Pw2 content esgSubNav
Log in to other products


Looking for more?

Contact Us
In This List

SEC fines UBS Financial Services $15M for supervisory failures


Banking Essentials Newsletter: June Edition

Case Study

กรณีศึกษา A Bank Takes its Project Finance Assessments to a New Level


Financial Institutions Factor Transition Risk into Climate-Related Stress Testing


Banking Essentials Newsletter: May Edition, Part-2

SEC fines UBS Financial Services $15M for supervisory failures

The SEC has charged UBSFinancial Services Inc. with failing to properly educate and train itssales force on critical aspects of certain complex financial products it sold toretail investors.

UBS Financial has agreed to pay about $8.2 million in disgorgementand $798,316 in interest along with a $6 million penalty.

The regulator found that the company did not develop and implementpolicies and procedures to educate and train its registered representatives forthe sale of reverse convertible notes so that they could form a reasonable basisto make suitable recommendations.

UBS Financial consented to the SEC's order without admittingor denying the findings.