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Mass. Hits UBS With Fraud Suit.

Authors :
Ackerman, Andrew
Source :
Bond Buyer; 6/27/2008, Vol. 364 Issue 32908, p1-6, 2p
Publication Year :
2008

Abstract

The article reports on the securities fraud charges filed by Secretary of State William Galvin against UBS Securities LLC and UBS Financial Services for selling retail investors auction-rate paper in Massachusetts. According to Galvin, both companies sold auction rate paper to retail investors as liquid, safe, money-market instruments even though the defendants knew it was not. A hearings officers within the department's securities division will hear the five-count administrative complaint.

Details

Language :
English
ISSN :
07320469
Volume :
364
Issue :
32908
Database :
Complementary Index
Journal :
Bond Buyer
Publication Type :
Periodical
Accession number :
33061124