Friday, September 17, 2021

Latest Posts

SEC: Forces UBS to return $8 million to investors in complex ETF product

SEC: Forces UBS to return $8 million to investors in complex ETF product

  • SEC filed a settled action against UBS Financial Services Inc. for compliance failures relating to sales of volatility linked ETP
  • This is the sixth matter arising from the Enforcement Division’s ETP Initiative
  • As described the ETP at issue is designed to track short-term volatility expectations in the market as measured against derivatives of a volatility index
  • According to the order, the issuer of the product warned UBS that it was not appropriate to hold the product for extended periods
  • The order finds that UBS prohibited brokerage representatives from soliciting sales of the product
  • According to the order, UBS prohibited the financial advisers from making additional recommendations
- Advertisement -

Latest Posts

Don't Miss