UBS charged by SEC, pays $8 million

Swiss bank settles charges related to “naked” short sales

One would think there’s a giant, bronze statue of Eliot Ness standing in the middle of the Enforcement Division of the Securities and Exchange Commission (SEC) with their dogged pursuit of wrongdoers these days.

Hours after the SEC issued a statement to pat itself on the back for a job well done by setting a record for the most cases it’s brought in a single year, news broke that they’re back to pounding the pavement.

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