{"id":1307,"date":"2013-08-30T10:55:23","date_gmt":"2013-08-30T10:55:23","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2013\/08\/securities_headlines_ubs_to_pa"},"modified":"2022-03-10T16:38:22","modified_gmt":"2022-03-10T22:38:22","slug":"securities-headlines-ubs-to-pa","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-headlines-ubs-to-pa\/","title":{"rendered":"Securities Headlines: UBS to Pay $4.5M Over Unregistered Assistants, $6M Ponzi Scam Allegedly Funded Reality Show, & Cherry Picking Allegations Lead to SEC Charges"},"content":{"rendered":"

\t\t\t\tUBS Settles Unregistered Assistant Allegations for $4.5M<\/strong><\/p>\n

UBS AG (UBS) <\/a>has agreed to pay $4.5 million to settle state regulator allegations that its assistants may not have been licensed in the states where they conducted business. The New Jersey Bureau of Securities, which led the securities case, contends that for about six years, the financial had “client service associations” that lacked the necessary state registrations take orders.<\/p>\n

An unknown amount of unsolicited trades were reportedly involved in these transactions between 2004 through 2010 when UBS had about 2,277 sales assistants on staff. The fine will be divided between the 50 States, DC, Virgin Islands, and Puerto Rico. By settling, the Zurich-based bank is not denying or admitting to the allegations. However, in late 2010 it modified its order-entry system so that employee state-registration statuses could be validated. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

UBS Settles Unregistered Assistant Allegations for $4.5M UBS AG (UBS) has agreed to pay $4.5 million to settle state regulator allegations that its assistants may not have been licensed in the states where they conducted business. The New Jersey Bureau of Securities, which led the securities case, contends that for about six years, the financial […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3792,3801,3760,3755],"tags":[],"class_list":["post-1307","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-ponzi-scams","category-sec","category-sec-enforcement","category-ubs"],"yoast_head":"\nSecurities Headlines: UBS to Pay $4.5M Over Unregistered Assistants, $6M Ponzi Scam Allegedly Funded Reality Show, & Cherry Picking Allegations Lead to SEC Charges — Investor Lawyers Blog — August 30, 2013<\/title>\n<meta name=\"description\" content=\"UBS Settles Unregistered Assistant Allegations for $4.5M UBS AG (UBS) has agreed to pay $4.5 million to settle state regulator allegations that 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