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Violation Tracker Individual Record

Company: UBS
Current Parent Company: UBS
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $69,800,000
Year: 2016
Date: April 15, 2016
Offense Group: financial offenses
Primary Offense: toxic securities abuses
Secondary Offense: investor protection violation
Mega-Scandal: Toxic Securities
Violation Description: The National Credit Union Administration announced that UBS would pay $69.8 million in damages and interest for claims arising from losses to Members United and Southwest, two corporate credit unions that failed during the financial crisis, related to purchases of residential mortgage-backed securities.
Level of Government: federal
Action Type: agency action
Agency: National Credit Union Administration
Civil or Criminal Case: civil
HQ Country of Current Parent: Switzerland
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.