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Violation Tracker Individual Record

Company: UBS Warburg and UBS PaineWebber
Current Parent Company: UBS
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $25,000,000
Year: 2003
Date: August 19, 2003
Offense Group: financial offenses
Primary Offense: investor protection violation
Mega-Scandal: Brokerage House Conflicts of Interest
Violation Description: UBS agreed to pay $25 million to a group of states to settle allegations that its investment banking interests had undue influence on its securities research. This was part of a larger $80 million settlement involving the SEC; see the Violation Tracker (click here)
Level of Government: state
Action Type: agency action
Agency: Multistate Financial Regulators 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.