UBS 'unethical' in mortgage-backed securities pricing
UBSGAM settles SEC mispricing charges for $300,000
An investment arm of UBS failed to follow the investment professional's code of ethics when it mispriced mortgage-backed securities in 2008, according to a director at a global investment advisory organisation.
UBS Global Asset Management (UBSGAM) has paid $300,000 to the US Securities and Exchange Commission (SEC) to settle charges that it misled investors by incorrectly pricing securities in three of its mutual funds in 2008, as discovered by the regulator during the course of an SEC
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