Swiss bank to pay $50 million to settle SEC claim that it misled investors in collateralized debt obligations about its use of their funds.
By Gregory Mott & Joshua Gallu, Bloomberg|August 06, 2013 at 02:48 PM
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UBS AG, Switzerland’s largest bank, will pay almost $50 million to settle U.S. regulatory claims that a brokerage unit improperly retained millions of dollars of upfront cash it received while acquiring collateral for a financial product.
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