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Violation Tracker Individual Record

Company: UBS Securities LLC and UBS Financial Services, Inc.
Current Parent Company: UBS
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $11,150,000,000
Year: 2008
Date: August 8, 2008
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: toxic securities abuses
Mega-Scandal: Toxic Securities
Violation Description: UBS agreed to buy back $11 billion in securities and pay $150 million in penalties as part of the resolution of multistate litigation alleging it misled customers in the marketing and sale of auction rate securities.
Level of Government: state
Action Type: agency action
Agency: Multistate Attorneys General Case
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.