{"id":4621,"date":"2008-06-16T12:06:33","date_gmt":"2008-06-16T12:06:33","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2008\/06\/sec_and_state_regulators_probe"},"modified":"2022-03-29T15:12:16","modified_gmt":"2022-03-29T20:12:16","slug":"sec-and-state-regulators-probe","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-and-state-regulators-probe\/","title":{"rendered":"SEC and State Regulators Probe Whether UBS Played a Role in Auction-Rate Securities Collapse"},"content":{"rendered":"

The Boston Globe says it has reviewed documents that indicate that UBS Financial Services<\/a> continued selling municipal bond investments without warning clients of the risks even though the firm already knew that trouble was brewing. Yet when the $330 billion auction-rate securities market shut down in February, UBS brokers expressed surprise at the collapse.<\/p>\n

This lack of disclosure is in contrast to UBS’s dealings with some of its bigger clients. The investment bank reportedly advised them of the pending problems at least three months before all trading ended. All this indicates that there is a possibility that UBS played a bigger part in the auction-rate securities collapse than it has owned up to, and the Securities and Exchange Commission and New Hampshire and Massachusetts regulators are investigating this matter-in addition to trying to determine whether UBS did in fact mislead investors.<\/p>\n

UBS has acknowledged that it did not give some investors enough warning, and it has refused to explain why it warned other clients about the auction-rate securities risks. If only one side of UBS did in fact know about the upcoming auction-rate securities crisis and did not warn the other side, securities attorneys say that the investment firm could be in legal hot water.<\/p>\n

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

The Boston Globe says it has reviewed documents that indicate that UBS Financial Services continued selling municipal bond investments without warning clients of the risks even though the firm already knew that trouble was brewing. Yet when the $330 billion auction-rate securities market shut down in February, UBS brokers expressed surprise at the collapse. This […]<\/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":[3865,3755],"tags":[],"class_list":["post-4621","post","type-post","status-publish","format-standard","hentry","category-auction-rate-securities","category-ubs"],"yoast_head":"\nSEC and State Regulators Probe Whether UBS Played a Role in Auction-Rate Securities Collapse — Investor Lawyers Blog — June 16, 2008<\/title>\n<meta name=\"description\" content=\"The Boston Globe says it has reviewed documents that indicate that UBS Financial Services continued selling municipal bond investments without warning — June 16, 2008\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/sec-and-state-regulators-probe\/\" 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