UBS Securities LLC was recently fined $320,000 by FINRA and required to revise its written supervisory procedures regarding OATS compliance, order handling, sales transactions, soft dollar accounts and trading, the firm’s use of multiple market participant identifiers, preventing anti-intimidations/coordination, quoting and trading rules, and books and records. Without admitting or denying the findings, UBS Securities LLC consented to the entry of findings that it transmitted reports to OATS that contained inaccurate, incomplete or improperly formatted data and it incorrectly submitted execution reports that it should not have submitted.
This is not the first time that UBS Securities has been investigated by the regulators regarding a possible securities violation. According to UBS Securities’ FINRA Broker Report, the Firm has been the subject of 116 regulatory events and has also been named in at least 9 arbitration/customer complaints related to various types of securities fraud.
If you have questions about investments you made with UBS Securities, or if you believe that you have been the victim of a securities fraud, The White Law Group may be able to help. To speak to a securities attorney, please call our Chicago office at 312-238-9650 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.
For more information on The White Law Group, visit http://www.whitesecuritieslaw.com.