Violation Tracker Individual Record

Company: 
UBS AG
Current Parent Company: 
UBS
Penalty: 
$90,800,000
Year: 
2011
Date: 
May 4, 2011
Offense Group: 
competition-related offenses
Primary Offense: 
price-fixing or anti-competitive practices
Violation Description: 

UBS AG paid $90.8 million to settle multistate charges of anticompetitive and fraudulent conduct in the municipal bond derivatives industry, which took the form of bid-rigging, submission of non-competitive courtesy bids and submission to government agencies, among others, of fraudulent certifications of compliance with U.S. Treasury regulations. This was part of a larger $160 million settlement that also included federal agencies: https://violationtracker.goodjobsfirst.org/violation-tracker/-ubs-ag

Level of Government: 
state
Action Type: 
agency action
Agency: 
Multistate Attorneys General Case
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.