{"id":1726,"date":"2015-10-14T11:00:26","date_gmt":"2015-10-14T11:00:26","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/10\/ubs_to_pay_195m_over_notes_tie"},"modified":"2022-03-22T14:26:43","modified_gmt":"2022-03-22T19:26:43","slug":"ubs-to-pay-195m-over-notes-tie","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/ubs-to-pay-195m-over-notes-tie\/","title":{"rendered":"UBS To Pay $19.5M Over Notes Tied to Currency Index"},"content":{"rendered":"

\t\t\t\tUBS AG (UBS)<\/a> has agreed to pay $19.5 million to resolve SEC charges accusing the firm of making misleading or false statements and omissions in offering materials for structured notes<\/a> connected to a proprietary strategy for foreign exchange trading. The firm is accused of falsely stating to investors in the United States the structured notes linked to the V10 Currency Index with Volatility Cap were dependent upon a systematic and transparent strategy for currency trading that employed market prices to calculate the financial instruments that were underlying the index. The SEC said that UBS made undisclosed hedging trades, which lowered the index price by as much as 5%. The firm is settling without denying or admitting to the regulator’s findings.<\/p>\n

About 1900 US investors purchased approximately $19M of structured notes connected to the index from December ’09 to November ’10. The SEC contends UBS did not have an effective procedure, policy, or process for making sure that the individuals mainly responsible for the offering documents for the notes in the US knew that UBS employees in Switzerland were taking part in practices that could hurt the price inputs for calculating the V10 Index. The firm also purportedly did not disclose that it took unwarranted markups on hedging trades, hedged trades with non-systemic spreads, and traded prior to certain hedging transactions.
\n Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

UBS AG (UBS) has agreed to pay $19.5 million to resolve SEC charges accusing the firm of making misleading or false statements and omissions in offering materials for structured notes connected to a proprietary strategy for foreign exchange trading. The firm is accused of falsely stating to investors in the United States the structured notes […]<\/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":[3752,3755],"tags":[],"class_list":["post-1726","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-ubs"],"yoast_head":"\nUBS To Pay $19.5M Over Notes Tied to Currency Index — Investor Lawyers Blog — October 14, 2015<\/title>\n<meta name=\"description\" content=\"UBS AG (UBS) has agreed to pay $19.5 million to resolve SEC charges accusing the firm of making misleading or false statements and omissions in offering — October 14, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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