UBS Financial Services Inc. Securities Attorney

Investment losses stem from various causes, some of which are due to the negligence or wrongdoing of the brokerage firm the client has a relationship with. The attorneys of Gana LLP focus their practice on representing individuals and institutions in their disputes with brokerage firms, such as UBS Financial Services Inc. (UBS). The securities attorneys at our firm investigate and uncover evidence that financial firm acted wrongfully in providing services and products to clients. Securities misconduct can include unsuitable investments, fraud and false representations, breach of fiduciary duty, and failure to supervise.

UBS AG is a Swiss global financial services company that is located in Basel and Zürich, Switzerland. UBS provides investment banking, asset management, and wealth management services for private, corporate, and institutional clients worldwide. The name UBS originates from an abbreviation for Union Bank of Switzerland. The company traces its origins back to 1856, when the earliest of its predecessor banks was founded. UBS is the biggest bank in Switzerland and operates in more than 50 countries. UBS is one of the world's largest manager of private wealth assets.

UBS is affiliated with, under common control, or otherwise performs business under the company names Paine, Webber, Jackson & Curtis Inc., PaineWebber Inc., UBS Financial Services Incorporated of Puerto Rico, Paine, Webber, Jackson & Curtis Incorporated of Puerto Rico, UBS PaineWebber Incorporated of Puerto Rico, UBS Fund Advisor, LLC, UBS Global Asset Management, Allegis Capital LLC, Brinson Partners, DSI International Management, Inc., UBS Realty Investors LLC, UBS Securities LLC, Brunswick UBS Warburg, and UBS Willow Management, LLC.

UBS – By the Numbers:

  • CRD# 8174
  • SEC# 8-16267
  • 424 Regulatory Events
  • 393 Customer Complaints
  • Revenue: $29.59 billion
  • Net Income: $4.43 billion
  • Assets: $1.51 trillion
  • Employees 62,628 - 2012

UBS – In the News:

UBS – Libor Rate Fixing – UBS agreed to pay $1.5 billion to settle charges surrounding allegations of Libor rate fixing and U.S. prosecutors also filed criminal conspiracy charges against two former UBS traders allegedly at the heart of the scheme. Regulators described the alleged activities at UBS as "epic in scale," with dozens of traders and managers in a UBS-led ring of banks and brokers conspiring to skew interest rates. The U.S. Commodity Futures Trading Commission stated that UBS "seriously compromised" the integrity of financial markets through its practices. Further, according to regulators traders openly boasted about their prowess at moving the influential rates up or down at their whims. According to regulators, one star trader posted a comment electronically in 2007 stating that Libor "is too high cause I have kept it artificially high.”

SEC v. UBS Securities LLC, SEC Release No. 9438 (Aug. 6, 2013) – The Securities and Exchange Commission fined UBS Securities $50 million concerning allegations that the firm violated securities laws while structuring and marketing a collateralized debt obligation (CDO) by failing to disclose that it retained millions of dollars it received in the course of acquiring collateral for the CDO. The SEC’s investigation found that UBS received $23.6 million in upfront payments while acquiring credit default swaps (CDS) as collateral. The SEC alleges that rather than transferring this cash to the CDO, UBS retained the full amount of upfront payments in addition to its disclosed fee of $10.8 million. The SEC alleged that UBS then marketed the deal using materials that omitted any reference to its retention of the upfront payments and misrepresented that the CDO had to acquire all collateral at either fair market value or the price it was acquired by UBS.

FINRA v. UBS Financial Services, Inc., AWC No. 2008015443301 - The Financial Industry Regulatory Authority (FINRA) fined UBS Financial Services, Inc., $2.5 million and required UBS to pay $8.25 million in restitution concerning allegations of omissions and statements that misled investors regarding the "principal protection" feature of 100% Principal-Protection Notes (PPNs) Lehman Brothers Holdings Inc. issued prior to its September 2008 bankruptcy filing. FINRA alleged that from March to June 2008, UBS advertised and some UBS financial advisors described the notes as principal-protected investments and failed to emphasize they were unsecured obligations of Lehman Brothers.

Our firm has represented hundreds of investors in investment claims against brokers and brokerage firms that have taken advantage of their clients. Our attorneys can help you detect and uncover suspicious activity in your accounts. Our consultations are free and we welcome all inquiries.

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