“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.”

http://www.rawstory.com/rs/2013/08/06/swiss-bank-pays-50-million-to-settle-sec-charges-from-2007-financial-meltdown/

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