Violation Tracker Individual Record

Company: 
UBS
Current Parent Company: 
UBS
Penalty: 
$69,800,000
Year: 
2016
Date: 
April 15, 2016
Primary Offense: 
toxic securities abuses
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 Parent: 
Switzerland
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking & securities
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.