“UBS agreed to pay nearly $50 million to settle charges over its disclosures related to a money-losing 2007 investment vehicle linked to sub-prime loans, a US agency announced Tuesday. UBS presented inaccurate or incomplete information about upfront payments in marketing literature to investors and in submissions to the CDO’s directors, the SEC said. When the CDO was liquidated in 2007, outside investors lost approximately $130 million in the CDO, according to an SEC administrative order. In the settlement, UBS agreed to pay about $50 million in disgorgement, interest and penalties. The bank did not admit or deny the SEC’s findings.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Opponents vote to shoot Egypt’s president Morsi into space
Researchers create battery that recycles sewage into energy
David Miranda: I was treated like a threat to the United Kingdom
Amazon Hiring 5,000 in Warehouses to Meet Customer Demand
Unlocked iPhones Are Hard Currency in Brazil, Italy, Other Countries
Dubai offers gold to fight obesity epidemic
China “fully prepared” for currency war: central banker
Russia Says World Is Nearing Currency War as Europe Joins
92-year-old homeowner shoots, kills intruder
Most Untrustworthy US Police Departments Receive Military Weapons
Bitcoin developers offer $10,000 virtual bounty to fix mystery Mac bug
Dismantle the euro, says Nobel-winning economist who backed it
Quicken Loans founder: Detroit bankruptcy a 'step toward a better and brighter tomorrow'
School districts drop federal lunch program after kids won't eat
Turkey mine collapse: Erdogan told protesters they would be slapped