Violation Tracker Individual Record
: UBS Financial Services Inc.
Current Parent Company
Parent at the Time of the Penalty AnnouncementPenalty
to see this data field
: October 2, 2019
: financial offenses
: investor protection violation
: FINRA censured and fined UBS Financial Services Inc. $2 million for the firm's repeated failures in timely addressing municipal short positions and in inaccurately representing the tax status of thousands of interest payments to customers. FINRA also required UBS to pay restitution to customers who may have incurred any increased state tax liabilities, to pay the IRS to relieve customers of any additional federal income tax owed, and to certify within 90 days that the firm has taken appropriate corrective measures.
Level of Government
: agency action
: Financial Industry Regulatory Authority
Civil or Criminal Case
HQ Country of Current Parent
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)
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Current parent company note
: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log