UBS's Dark Pool Was Shady
This was a big week for the SEC, including levying a $14.4 million fine against UBS Securities for doing bad stuff in its dark pool.
New Hire Roundup: Hedge Fund Association Names Regional Co-Directors
Also in new hires, Sen. Rob Portman, R-Ohio, announced that Zach Rudisill will assume the role of tax counsel on his staff.
UBS to Pay SEC $50M for Misrepresenting CDO
The SEC said that the head of the U.S. CDO group at UBS stated, “Let’s see how much money we can draw out of the deal.”
Several notable compliance-related measures have been approved—or tabled—by the Securities and Exchange Commission, Financial Industry Regulatory Authority and state securities regulators over the past couple of months that should be on advisors’ and brokers’ radar.
BDs Subpoenaed on Alt Sales to Seniors
William Galvin, the Massachusetts regulator, is setting his sights on alt investment sales to seniors, calling such products "accidents waiting to happen."
SEC Names Butler to Head New Office of Credit Ratings
The SEC’s Office of Credit Ratings was created by the Dodd-Frank Act and is responsible for overseeing the nine registered Nationally Recognized Statistical Rating Organizations (NRSROs).
UBS Pays $8M Fine to Settle SEC’s Short-Sale Case
The SEC charged UBS Securities Thursday with faulty record-keeping practices related to short sales, and UBS agreed to pay an $8 million penalty to settle the enforcement action.
FINRA Fines UBS $12 Million Over Short Sales
FINRA demands that UBS Securities pay $12 Million for Regulation SHO violations and supervisory failures.
Pioneer Investments has introduced a closed-end fund that gives investors exposure to catastrophe bonds or "cat bonds." Cats are issued by insurers to help spread...