UBS

Citigroup settlement with SEC rejected

By Shirley Li | November 29, 2011

A federal judge challenged a decades-old practice of the Securities and Exchange Commission (SEC) Monday, by rejecting a $285 million settlement between the SEC and Citigroup.
Litigation: Is FINRA still fine?

By Matthew Ingber | October 27, 2011

On Oct. 5, 2011, the 2ndCircuit held in Fiero Brothers v. FINRAthat the Financial Industry Regulatory Authority (“FINRA”) lacks the power to sue its members to collect fines it imposes in disciplinary proceedings. The decision arose from FINRA’s suit against the Fiero Brothers securities firm to recover a $1,000,000 fine.
DOJ cracks down on offshore banking

By Steven Andersen | October 4, 2011

Swiss bankers indicted for helping U.S. clients hide billions from the IRS.
UBS shareholders may not file securities fraud lawsuits

By Ashley Post | September 20, 2011

Last week, UBS announced that a rogue trader caused it to lose more than $2 billion from unauthorized trades. Today, Reuters reports that UBS shareholders have yet to file any class action lawsuits against the Swiss bank.
Rogue UBS trader causes $2 billion loss

By Ashley Post | September 15, 2011

This morning, Switzerland-based UBS announced that a rogue trader caused it to lose more than $2 billion from unauthorized trades. As a result, the bank may report a loss for the entire third quarter.