Business News: UBS to pay $49.8 million to settle SEC fraud - TopicsExpress



          

Business News: UBS to pay $49.8 million to settle SEC fraud charges over CDO: (Reuters) - UBS AG agreed to pay $49.8 million to settle U.S. Securities and Exchange Commission charges it misled investors about a mortgage bond transaction it structured prior to the 2008 financial crisis, the regulator said on Tuesday. The SEC said the payment resolves a probe into ACA ABS 2007-02, a collateralized debt obligation (CDO) that the Swiss bank created in 2007. According to the regulator, UBS received $23.6 million in upfront payments while acquiring credit default swaps as collateral for the CDO. ... Get Full Details From News Source u.robinspost/3mFVXR
Posted on: Tue, 06 Aug 2013 17:12:05 +0000

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