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December 2015 Archives

SEC and FINRA hit UBS with Combined $34 Million Fine

The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) fined UBS Wealth Management for claims related to the offer and sale of the Puerto Rico bond fund. The SEC's fine totaled $15 million. The money will go into a fund for the damaged investors. The FINRA fine totaled $18.5 million, and $11 million of the fine will be paid as restitution to 165 customers.

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